WBAD

(redirected from Walgreens Boots Alliance Development GmbH)
AcronymDefinition
WBADWalgreens Boots Alliance Development GmbH (Berne, Switzerland)
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In a recent conference call with analysts, Standley said Rite Aid will focus on six areas: strengthening the management team; redefining and enhancing the customer and patient experience; engaging with third-party payers to create a sustainable business model; evaluating purchasing options for prescription drugs (as part of the asset sale to WBA, Rite Aid has the option to buy generics for a period of 10 years through Walgreens Boots Alliance Development GmbH); streamlining operations; and driving growth at EnvisionRx.
The consideration for the transaction will be nearly $5.2 billion in cash, the assumption by Walgreens Boots Alliance of the related real estate leases and the grant of an option to Rite Aid, exercisable through May 2019 and subject to certain conditions, to become a member of Walgreens Boots Alliance's group purchasing organization, Walgreens Boots Alliance Development GmbH. Walgreens Boots Alliance will also assume certain limited store-related liabilities as part of the new transaction.
The consideration for the transaction will be $5.18 billion in cash, the assumption by WBA of the related real estate leases and the grant of an option to Rite Aid--exercisable through May 2019 and subject to certain conditions --to become a member of WBA's group purchasing organization, Walgreens Boots Alliance Development GmbH. WBA will also assume certain limited store-related liabilities as part of the new transaction.
Through the deal, AmerisourceBergen will receive the right to distribute Walgreena[euro](tm)s branded and generic pharmaceutical products, which it will access through the recently established JV Walgreens Boots Alliance Development GmbH.
The joint entity, to be headquartered in Bern, will operate under the Walgreens Boots Alliance Development GmbH name, the company added without disclosing further details.
-- The search for synergies is being led by Walgreens Boots Alliance Development GmbH (WBAD), a joint venture established to help the partnership between Walgreen Co.
Perhaps the most significant achievement of the partnership is the establishment of Walgreens Boots Alliance Development GmbH, a joint venture based in Bern, Switzerland.
Jeff Berkowitz, now president of Walgreens Boots Alliance Development GmbH, will be president of pharma and global market access, including responsibility for specialty pharmacy.
Based in Bern, Switzerland, Walgreens Boots Alliance Development GmbH is the engine that will enable the partners to realize their aggressive synergy targets.
In addition, AmerisourceBergen will access generics and related pharmaceutical products through Walgreens Boots Alliance Development GmbH, the joint venture established by those two companies last fall.