Alibaba Health to acquire 14% stake in pharma firm for $61.3m

Alibaba Health to acquire 14% stake in pharma firm for $61.3m

Alibaba Health Information Technology, a subsidiary of Chinese giant Alibaba Group, is set to acquire a 14.54 per cent stake in local pharmaceutical company Guizhou Ensure Chain Pharmacy Company Limited for CNY421.8 million ($61.3 million).

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