Pharmacy firms look set to merge

BOOTS and Alliance UniChem were said today to be finalising the creation of a £7 billion (€10.3bn) pharmacy giant as fears grew that a deal could result in job losses.

Details are expected to be announced tomorrow and could include a £1bn (€1.5bn) cash sweetener to Boots shareholders.

The new company - to be called Alliance Boots - will control 15% of the British pharmacy market and have nearly 2,500 chemists around the country and in Europe.