Alliance Unichem Plc has linked up with Galenica Holding Ltd, Switzerland's largest pharmaceutical wholesaler, in a deal which will allow it to develop a chain of pharmacies in that country.
Alliance Unchem announced on November 23 that it had agreed to take a 10 per cent stake in Galenica, with a possible extension of up to a 25 per cent stake which would be worth £65m.
Galenica has over 50 per cent of the Swiss wholesaling market for pharmacies, medical practices and drug stores. It is also the third largest provider of over-the-counter medicines to the Swiss market. Galenica reported a pre-tax profit of SFr43.2m (£16.9m) on a turnover of SFr1,774m in 1998.
Galenica's recently established retail division, which owns four pharmacies, will become the basis of a chain of pharmacies in Switzerland. Mr Jeff Harris (chief executive, Alliance Unichem) said that this chain would be formed through a combination of franchises, joint ownership schemes with independent pharmacists and through an owned chain in which pharmacists might also invest directly.
In addition, Alliance Unichem's joint venture prewholesaling business, UDG, is to be merged with Galenica's European prewholesaling business.
Moss acquisition Alliance Unichem Plc's United Kingdom retail division, Moss Pharmacy, has bought three pharmacies owned by Astro Ltd and trading as Dallas Chemists at Ruislip, Northwood and Harrow, north London. The purchase was undertaken by issuing new shares worth £2.7m. The purchase brings the total number of pharmacies acquired by Moss this year to 63 and the total number of outlets in England, Scotland and Wales to 627.