Profit at Walgreens Boots Alliance, the world’s largest pharmacy operator and the owner of the UK pharmacy chain, fell by more than a fifth to $821m in the three months to November as the American company took a charge linked to an investment in a Chinese pharmaceuticals wholesaler.
Despite revenue climbing nearly 8% from $28.5bn to $30.7bn, its shares were down by 6.1% at $70.92 by mid-morning in New York yesterday, knocking about $4bn off the group’s value to about $70bn.
Boots became part of Walgreens Boots Alliance when Walgreens took over the Anglo-Swiss Alliance Boots in 2014. Walgreens Boots Alliance has 13,200 pharmacies around the world and a presence in 25 countries.
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