Alliance Boots executive chairman Stefano Pessina confirmed his commitment to becoming a global leader at a celebratory ceremony for the retailer’s joint venture in China.

Speaking today in Guangzhou, China, Pessina said: “We are extremely delighted to be celebrating the launch of our joint venture into the Chinese market, which is rapidly expanding and will soon be among the world’s largest pharmaceutical markets.

“Our aim is to further develop our international presence in new areas and this is a significant step towards meeting our ambition of becoming a global leader.”

Pessina was celebrating the formation of a 50:50 joint venture between Alliance Boots and Chinese partner Guangzhou Pharmaceutical Company. Attended by more than 2,000 guests, directors from Alliance Boots included wholesale and commercial affairs director Ornella Barra and group finance director George Fairweather.

Pessina added: “GP Corp’s strong position within the Chinese healthcare market will enable it to take advantage of consolidation opportunities as they arise and contribute to strengthening the healthcare distribution channel in China.”