Walgreens Boots Alliance and McKesson agreed to acquire German wholesale JV.

Walgreens Boots Alliance and McKesson agreed to create a joint venture that will combine their respective pharmaceutical wholesale businesses in Germany, Alliance Healthcare Deutschland and GEHE Pharma Handel. WBA will have a 70% controlling equity interest in the joint venture and McKesson will have a 30% ownership interest. Financial terms were not disclosed. “Combining our wholesale operations is the right decision to secure the long-term success of both businesses. This is a strategic step that will offer benefits for all. We are creating a sustainable company to drive success for our customers and the German healthcare system,” Ornella Barra, WBA Co-Chief Operating Officer.