Germany's Celesio Purchased by McKesson

The purchase of German company Celesio has been announced by US pharmaceutical distributor McKesson.

The purchase of German company Celesio has been announced by US pharmaceutical distributor McKesson. The deal is valued at more than $8 billion.

The combined company "will be one of the largest pharmaceutical wholesalers and providers of logistics and services in the healthcare sector worldwide," the German firm said in a statement.

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The total transaction, including McKesson's takeover of Celesio's outstanding debt is valued at approximately $8.3 billion (6.3 billion euros, the statement added.

Both firms will keep their own separate brands.

The combined firm is expected to have annual revenue of more than $150 billion, employing some 81,500 people in 20 countries worldwide.

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Earlier in the month, shares in McKesson rose sharply after the Wall Street Journal reported news of the buy-out.

Source-AFP

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