The UK's biggest high street chemist Boots could be put up for sale or floated by the end of the year, according to reports.
Executives at its parent company Walgreens are reportedly facing intense pressure to break up the global pharmacy giant.
This is Money reports that the firm's investors and board members want Walgreen's Boots Alliance executive chairman Stefano Pessina and chief executive Rosalind Brewer to refocus the company on the US.
Reports say that industry experts believe Walgreens should spin off its international operations as soon as possible, as Boots and other operations in Europe are a “distraction.”
This is the second time Walgreens could try to sell off the high street pharmacy and retailer in the last 14 months.
Walgreens put Boots up for sale in January last year for £7billion but the sale was called off in June after failing to find a suitable buyer.
According to reports at the time, there were a few potential buyers for this sale.
This included Asda owners the Issa brothers, and a consortium fronted by CVC Capital Partners and Bain Capital.
If a sale was to go through, it is currently unclear how it would affect UK stores and their staff.
Boots currently employs around 53,000 people in the UK and Ireland.
A stock market listing could also be on the cards, where Walgreens would float Boots in London, according to This is Money.
The company reported "optimistic" profits earlier this year and said it expected profits to grow by around 6% over the next year.
This optimistic view came after a difficult few years for the pharmacy retailer.
In 2020, Boots announced that it was to axe around 4,000 jobs and close more than 48 of its optician branches through a cost-saving "transformation plan".
The job losses – which was 7% of the company’s total headcount was due to the financial pressures of the pandemic.
However, in January Boots announced it had 1,500 vacancies for pharmacists roles in the UK.
The chain also said it would welcome applications from “pharmacists impacted by Lloydspharmacy closures”.
Walgreens and Boots have been contacted for comment.
