McKesson to sell 28 pharmacies for retail approval of Rexall Health acquisition

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To gain regulatory approval for its proposed $3 billion acquisition of Canadian pharmacy chain Rexall Health, McKesson entered a consent agreement with Canada's Competition Bureau, according to IGDRetailAnalysis.com.

Under terms of the agreement, San Francisco-based McKesson agreed to sell 28 of Mississauga, Ontario-based Rexall's 470 pharmacies, reports CBC News. The pharmacies are located in communities throughout Ontario, Alberta, Saskatchewan, British Columbia and the Northwest Territories.

In addition, McKesson agreed to contain the exchange of sensitive information between its wholesale business and Rexall's retail business.

McKesson is Canada's biggest wholesaler of pharmaceutical products, according to CBC News.

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