Skip to content
Search

Latest Stories

Walgreens abandons £5bn sale of Boots UK

Walgreens Boots Alliance on Tuesday (June 28) scrapped the plan to sell its UK high street pharmacy chain saying no third party was able to make an adequate offer due to the turmoil in global financial markets.

Walgreens' move to call off the sale comes as private equity bidders Apollo Global and TDR faced headwinds in raising financing for the deal, as banks were wary of underwriting large chunks of the financing due to tough market conditions.


Boots was initially valued at as much as £8bn with the auction process being led by Goldman Sachs.

Global economic uncertainty and rising inflation have triggered a spike in interest rates as central banks have rushed to take action in the most widespread tightening of monetary policy for more than two decades, making deal financing costlier and harder to access.

Walgreens had put its Boots UK business up for sale after announcing a strategic review in January as the second-largest US pharmacy chain renewed its focus on domestic healthcare.

The company said the decision to retain Boots and No7 Beauty Company was also underpinned by their ongoing strong performance.

Brokerage Evercore ISI said the announcement was not a surprise, noting it was likely disappointing to the management team that had hoped to refocus the company on its US pharmacy and healthcare businesses.

"We see a potential future sale as still likely within the next few years if macro environment becomes more stable," Evercore said in its note.

The 173-year-old Boots business includes 2,200 stores in the United Kingdom, including pharmacies, health and beauty stores.

Along with, Apollo Global and TDR, Indian billionaire Mukesh Ambani’s Reliance Industries was also one of the early bidders for Boots UK.

More For You

RPS Wales calls for urgent investment in pharmacy workforce at Senedd meeting

Third from the left: Eluned Morgan, First Minister of Wales

Photo credit: RPS

Invest in pharmacy workforce: RPS Wales urges Senedd members

Members of the Senedd (MSs) were briefed on the increasing pressures facing pharmacy teams and the urgent need for action to support their health and wellbeing at an event hosted by the Royal Pharmaceutical Society (RPS) Wales.

The event, held on Wednesday, brought together MSs, including first minister Eluned Morgan, to discuss the findings of RPS’ latest Workforce Wellbeing Survey.

Keep ReadingShow less
Imported dengue reach record high, warns UKSHA

Most dengue cases were linked to travel to Southern and South-Eastern Asia.

Getty Images

Imported dengue cases hit record high – Consult your pharmacist before you travel

The UK Health Security Agency (UKSHA) has warned that imported dengue cases in England, Wales, and Northern Ireland (EWNI) have reached their highest level since dengue surveillance began in 2009.

New data from the agency reveals that 904 dengue cases were reported among returning travellers in these countries in 2024, a sharp increase from 631 in 2023.

Keep ReadingShow less
Henry Gregg named as new NPA chief executive

Henry Gregg (left) with Sir Chris Whitty

Pic credit: Henry Gregg/X

Henry Gregg named as new NPA chief executive

The National Pharmacy Association (NPA) has announced Henry Gregg will be the organisation’s new chief executive from May.

Gregg, who is currently director of external affairs at Asthma + Lung UK, replaces Paul Rees who departed in January.

Keep ReadingShow less
Kelso Pharma continues expansion with £140M funding boost

Kelso Pharma will use the funds to support further acquisitions and expand in the UK and Europe.

Getty Images

Kelso Pharma secures over £140m of acquisition funding

Kelso Pharma has secured more than £140 million of acquisition funding to support its expansion in the UK and across Europe.

The specialty pharmaceuticals business today (27) confirmed that a proportion of the funding was used for its acquisition of ALTURiX last month, a deal that doubled the size of the company’s UK business.

Keep ReadingShow less
Community pharmacist accessing GP Connect Access Record on Cegedim Rx platform

GP Connect Access Record will make a patient’s relevant medical information available to pharmacy.

Getty Images

Cegedim Rx activates GP Connect Access Record

Community pharmacy IT supplier Cegedim Rx has made GP Connect Access Record functionality available across its clinical services platform, providing registered pharmacy professionals with enhanced access to patient medical information.

The new feature, now live on Cegedim Rx’s Pharmacy Services platform, allows community pharmacies to retrieve relevant medical data when delivering NHS clinical services.

Keep ReadingShow less