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$1.4 billion deal

Alibaba injects pharmacy assets into healthcare unit in $1.4 billion deal

SHANGHAI: Chinese e-commerce giant Alibaba Group Holding Ltd will inject some of its online pharmacy business into a listed unit in a deal valued at HK$10.6 billion ($1.35 billion), the firm said in a statement on Tuesday. Alibaba Health Information Technology Ltd will buy Ali JK Nutritional Products Holding Limited, which controls sales of medical devices, healthcare products, adult products and healthcare services on Alibaba’s Tmall platform. The deal will see parent Alibaba receive newly issued shares in Ali Health,…