BERN, Switzerland — Alliance Boots on Friday announced that it has distributed its equity interest in Galenica, its Swiss associate, to the group’s ultimate parent company, AB Acquisitions Holdings, in accordance with the terms of the agreement with Walgreens reached last year.
Galenica continues as an associate of AB Acquisitions Holdings. Stefano Pessina, executive chairman of Alliance Boots, continues as non-executive director of Galenica while Etienne Jornod, executive chairman of Galenica, stays as a non-executive director of Alliance Boots.
Galenica is a diversified group active throughout the healthcare market which, among other activities, develops, manufactures and markets pharmaceutical products, runs pharmacies, provides logistical and database services and sets up networks. The Galenica Group enjoys a leading position in all its business sectors — Pharma, Logistics, Retail and HealthCare Information. A large part of the group’s income is generated by international operations.