Walgreens Boots Alliance will promote its pharmaceutical wholesale enterprise to AmerisourceBergen in a $6.5 billion money and inventory deal.
Pharmaceutical wholesalers basically act as middlemen, buying medicine from producers after which distributing them to prospects like drugstore chains.
Walgreens says it’s going to now have the flexibleness to put money into and give attention to its retail enterprise which, like others, has been rattled by the COVID-19 pandemic.
AmerisourceBergen pays practically $6.three billion in money and a couple of million shares of its frequent inventory for Walgreens’ Alliance Healthcare enterprise, the businesses mentioned Wednesday. The businesses can even lengthen their U.S. distribution settlement by three years, till 2029.
Shares of AmerisourceBergen, primarily based in Chesterbrook, Pa., jumped greater than 6% in early buying and selling. Shares of Walgreens Boots Alliance, primarily based in Deerfield, Unwell., rose greater than 2%.