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Walgreens Boots Alliance on Tuesday (June 28) scrapped the plan to sell its UK high street pharmacy chain saying no third party was able to make an adequate offer due to the turmoil in global financial markets. Walgreens' move to call off the sale comes as private equity bidders Apollo Global and TDR faced headwinds in raising financing for the deal, as banks were wary of underwriting large chunks of the financing due to tough market conditions. Boots was initially valued at as much as £8bn with the auction process being led by Goldman Sachs. Global economic uncertainty and rising inflation have triggered a spike in interest rates as central banks have rushed to take action in the most widespread tightening of monetary policy for more than two decades, making deal financing costlier and harder to access. Walgreens had put its Boots UK business up for sale after announcing a strategic review in January as the second-largest US pharmacy chain renewed its focus on domestic healthcare. The company said the decision to retain Boots and No7 Beauty Company was also underpinned by their ongoing strong performance.

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A surrogate mother often faces criticism and judgment from others for the choice she have made. However, those are less problematic when compare to the risks that she takes for her own family, friends and spouse. These risks can be daunting and cause challenges she might not have considered before getting involved. These risks can be anything from medical and health concerns to finances and job security and often family and personal risks as well. Medical risk is a huge factor, when a woman becomes a surrogate often times, she and the donors would have to undergo intense examination. These exams range from blood, health tests to the initial process of the implanting of the eggs from the donor. In the beginning the clinic will bring her and the egg donor together to begin a lengthy process of sequencing ovulation cycles. The clinic would put the surrogate mother on birth control and steroids, such as Luprin. These medications are meant to get both the surrogate mother and the donor's cycles on the same schedule. This is crucial because the surrogates' uterus needs to be ready for the embryos. Just having to deal with the pain of insemination and testing can be unbearable, not to mention the unpleasant side effects from all the medication and actual insemination process. However, that is just part of it. The surrogates are also faced with depression, sleep disturbance, guilt and the difficulty to remain unattached. These factors alone cause many surrogates to face the fact that they are walking a long road that not many others might have the strength to do. Many clinics offer support groups and counseling. Aside from medical and emotional risks, there might also be legality issues with the laws of the state they reside in. What kind of laws protect the surrogate, what rights does she have to things such as privacy? And there are also finances to consider. Generally, surrogate mothers are responsible for all insurance costs. As a surrogate you should be financially

Perrigo, one of the world's largest providers of self-care products has appointed Ronald van Workum as Sales Director Germany, Customer Strategy & Implementation DACH Cluster. van Workum will continue to drive the successful integration of HRA Pharma into the Perrigo network, with a focus on well-known brands such as Abtei, Compeed and Granu Fink. He most recently held the position of Head of Key Account Management for Perrigo in Europe, based in the Netherlands. Prior to joining Perrigo he worked for Procter & Gamble in several countries, including Singapore, and in various functions, including: Market Strategy Planning Manager for the Gillette brand; and in Europe as multifunctional Team Leader Emerging Channels. The company also announced Tobias Geiger has been promoted from his role as Finance Director of the Perrigo DACH Cluster, which he held since April 2020, to General Manager of the Perrigo DACH Cluster. During this time, he successfully supported the implementation and stabilisation of the DACH cluster. He also led several business optimisations with his teams, such as the implementation of SAP in Switzerland, process digitalisation and the creation of a DACH Finance Business Partner Model. Before joining Perrigo, Geiger worked for Sanofi for more than 10 years in various leadership positions in DACH and in Latin America.

Leo Pharma, one of the leaders in medical dermatology, has appointed Kasper Künzel as Interim Vice President and General Manager for its UK and Ireland business. Kasper is an established leader within Leo Pharma, having previously been Vice President, IPO Preparedness Office, at Leo Pharma in Denmark. Kasper brings over 17 years of pharmaceutical experience, previously taking on local and global leadership positions across Leo Pharma in functions including R&D, Finance and Commercial. Having first joined Leo Pharma in Denmark in a financial function, his previous roles include General Manager in South Korea, Vice President of Corporate Transformation, and Director of R&D Business Finance He commented: "I am delighted to join the Leo Pharma UK and Ireland team and continue to build on the company's strong heritage in these markets. The UK and Ireland team are committed to the Leo Pharma values as a leader in medical dermatology, and I'm looking forward to all we can achieve together this year.

Chiesi Farmaceutici, the international, research-focused biopharmaceuticals and healthcare group has acquired Amryt Pharma, a global biopharmaceutical company dedicated to developing novel treatments for rare diseases. More than 300 million people worldwide are affected by rare diseases, including those who are living with ultra-rare metabolic and dermatologic conditions who still have no approved treatment. The acquisition reinforces Chiesi's commitment to deliver innovative treatments to patients with highly unmet medical needs. As a benefit corporation and a B Corp, Chiesi strives to create a world where it is common to have a therapy for all diseases and acts as a force for good, for society and the planet. Chiesi's Head of Chiesi Global Rare diseases Giacomo Chiesi commented: "We are excited to add the Amryt family to our company in this acquisition that demonstrates our commitment to rare diseases and aligns with our growth strategy through partnerships beyond internal research and development." Chiesi's new CEO Giuseppe Accogli said: "By joining forces and expertise we will be able to grow our capabilities and further strengthen our position to provide a positive impact on patients living with rare diseases." With regard to the financing of the deal, cash consideration has been partially financed through a EUR 700m syndicated loan led by BNP Paribas and Crédit Agricole as Global Coordinators and ESG Structuring Banks, acting alongside BPER and Deutsche Bank as Mandated Lead Arrangers. Crédit Agricole is Loan Agent too. Lenders have been advised by Clifford Chance, while Baker and McKenzie has assisted Chiesi Farmaceutici.

Members of the House of Lords debated the National Insurance Contributions (Secondary Class 1 Contributions) Bill on Monday (6 January) during its second reading. Lord Livermore, financial secretary to the Treasury, opened the debate, emphasising that the Bill was necessary to "repair the public finances, to protect working people and to rebuild our public services." He highlighted the economic challenges faced by the government, including a £22 billion black hole in the public finances and several unfunded commitments inherited from the previous administration. Livermore stressed the government's number one commitment is "economic and fiscal stability" and the measures in this Bill would ensure that "not a single penny of day-to-day government spending will be funded by borrowing" within three years.

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PanOptica has raised up to $45m in a Series B financing to fund the clinical program for its lead compound, PAN-90806, a pharmacologically unique small-molecule selective inhibitor of VEGF

The English health secretary has fumbled the opportunity to prevent a crisis in the NHS this winter. She either does not understand or value the role of community pharmacy as the third pillar of patient access to essential healthcare. Her announcement that she wants community pharmacy to provide more services to take the strain off A&E departments and GP surgeries comes on the same day DHSC announces no new long-term investment to sustain the sector. Does she not understand that as a result of years of government underinvestment in England the network is in decline with random closures across the country? Too many pharmacies are temporarily closed every day due to workforce shortages beyond the control of pharmacy owners. Adding a new service here and there, even with some additional funding, does not address the longer term viability of the network which needs to know which patient services it will be expected to provide over the next 10 years - not just the next few months - and how those will be adequately remunerated. Asking more from our sector with no new investment is a strategy which is bound to fail. The pharmacy contract remains economically illiterate. The sector's finances need open heart surgery not a couple of paracetamol tablets.

Manish Menda, Director, Mya Health Credit

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