Walgreens takes $1.2B stake in drug wholesaler

Walgreens Boots Alliance is spending nearly $1.2 billion to own a 15 percent stake in AmerisourceBergen, a pharmaceutical wholesaler that supplies its drugstores, mail order and specialty pharmaceutical businesses, reports Crain’s Chicago Business.

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Through the transaction, Walgreens will hold 22.7 million shares in the drug supplier, with warrants to purchase an additional 22.7 million. Walgreens and AmerisourceBergan signed a 10-year supply agreement in 2013.

Walgreens will also increase the number of its drugstores this year through its $9 billion purchase of rival drugstore chain Rite Aide. The transaction is expected to close later this year.

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