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Alliance UniChem to enter Russian pharmaceutical wholesale market
Having already agreed to merge with Boots Group Plc, European healthcare group Alliance UniChem has now set its sights on the Russian pharmaceutical wholesale market. Alliance UniChem has reached an agreement to acquire a 96% controlling stake in Russia's A.P. Apteka Holding Ltd, for approximately GBP18 million.
Ian Meakins, Alliance UniChem chief executive, said the acquisition would give the company access to a market estimated to be worth over GBP3 billion. The Russian pharmaceutical wholesale market is also expected to grow at low double digit growth rates for the foreseeable future.
"This transaction is in line with our strategy of gaining a presence in important new geographical territories and will enable us to enter the Russian market as a significant and important participant," Mr Meakins explained.
Source: Pharmaceutical Business