Jan. 6 (UPI) — Walgreens Boots Alliance mentioned Wednesday it has bought the majority of its Alliance Healthcare enterprise to AmerisourceBergen Corp. for almost $6.5 billion.

The deal consists of $6.275 billion in money together with $2 million shares of AmerisourceBergen widespread inventory. The 2 firms have had ties since 2013. Walgreens holds 30% of AmerisourceBergen inventory.

“This deal will allow important worth creation for each firms and can generate new synergies along with these already captured,” Stefano Pessina, govt vice chairman and CEO of Walgreens Boots Alliance, mentioned in an announcement. “It’s a logical step following the success of our long-term strategic relationship with AmerisourceBergen, which has been a powerful and trusted accomplice since 2013.”

The businesses additionally agreed to increase and develop their industrial agreements. The U.S. distribution settlement shall be prolonged till 2029 and their partnership is being expanded to incorporate a dedication to pursue further alternatives in sourcing and distribution. The Alliance Healthcare UK will keep a distribution accomplice of Walgreens till 2031.

“AmerisourceBergen’s very important function within the well being system as a key pillar of pharmaceutical innovation and entry has been on full show over the previous 12 months,” Steven Collis, chairman, president and CEO of AmerisourceBergen, mentioned within the assertion. “AmerisourceBergen’s monetary and strategic place allows this subsequent evolution of enhancing our skill to supply healthcare capabilities throughout areas and ship modern options for our upstream and downstream companions.”