Nigel Rudd has rounded on retail analysts, describing them as "stupid" for failing to see the value in Alliance Boots after last year's £7.78 billion ($15.48 billion) merger of the retail chain with Stefano Pessina's Alliance Unichem drugs wholesale business, the Financial Times reported.
In an interview with the newspaper, the chairman of Alliance Boots, who this month oversaw the sale of Boots to private equity, hit out at City analysts for failing to get to grips with the enlarged group.
"When I did the Alliance Boots deal, everyone hated it. The greatest pleasure out of all of this has been the analysts," said Sir Nigel. "I actually love that. They are so stupid most of them... they are very bright or stupid.
"They write all this stuff, but they don't sit back and say healthcare is a growing business, people are getting older, they need more medicine."