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Rumor: Gome Partners With Walgreens For Pharmacies
Tags: 493.HK, Beijing Golden Elephant Pharmacy, Gome, Li Fuqing, Pengtai Investment, Walgreens, retail,
Chinese electronics retailer Gome (493.HK) has set up a pharmacy chain joint venture with American pharmacy Walgreens, reports China Industrial Economy News quoting insiders from Beijing Tongzhou District administrative department. The report said the JV's first pharmacy will be located in Beijing suburb Tongzhou. However, the Tongzhou Investment Promotions Bureau denied the report. Gome announced in March that the pharmacy industry will be one of its focuses in 2006. According to the report, Gome subsidiary Pengtai Investment will operate the chain of pharmacies for Gome and Beijing Golden Elephant Pharmacy vice general manager Li Fuqing has already started work at Gome.
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