A big Boots the Chemist signal hangs over the fron entrance to their Oxford Road department Might 4, … [+]
Walgreens Boots Alliance gained’t be promoting its Boots pharmacies in the UK following a strategic overview of potential consumers.
Walgreens decision announced Tuesday means its Boots and No7 Magnificence Firm companies will stay beneath current possession, ending a overview that started in January.
“Since launching the method, the worldwide monetary markets have suffered surprising and dramatic change,” Walgreens Boots Alliance mentioned Tuesday in an announcement. “On account of market instability severely impacting financing availability, no third occasion has been in a position to make a suggestion that adequately displays the excessive potential worth of Boots and No7 Magnificence Firm. Consequently, WBA has determined that it’s in the very best pursuits of shareholders to maintain specializing in the additional progress and profitability of the 2 companies.”
The overview of the U.Okay. operations comes as Walgreens is spending billions of {dollars} on its U.S. drugstore operations on the path of chief government officer Roz Brewer, who took over as CEO final 12 months. Walgreens has invested greater than $6 billion in main care developer VillageMD to escalate the growth of doctor-staffed clinics throughout the U.S. beneath a brand new “Walgreens Well being” enterprise.
However Brewer mentioned Tuesday the Boots operation stays strong and has been rising in a troublesome market.
“It’s an thrilling time for these companies, that are uniquely positioned to proceed to seize future alternatives introduced by the rising healthcare and wonder markets,” Brewer mentioned. “The Board and I stay assured that Boots and No7 Magnificence Firm maintain sturdy elementary worth, and long run, we are going to keep open to all alternatives to maximise shareholder worth for these companies and throughout our firm.”
