Walgreens on Saturday officially opened its 8,000th store nationwide and its first flagship on the West Coast.

Walgreens announced several new senior management roles, including an expanded role for CFO Wade Miquelon and the appointment of current senior VP and chief strategy officer Robert Zimmerman as the lead executive responsible for the Walgreens-Alliance Boots' "synergy team."

Swiss drugstore chain Alliance Boots said it has acquired a 12% stake in Chinese pharmaceutical wholesaler Nanjing Pharmaceutical Co. for $88.5 million.

Walgreens and Alliance Boots on announced the completion of Walgreens initial investment in the strategic partnership following receipt of all required regulatory approvals.

Walgreen Co. said it will pay $6.7 billion for a 45% stake in European health and beauty retailer Alliance Boots, which is based in Nottingham, England, with an option to buy the rest of the company in about three years.

London, British health...