China's Fosun to Buy Huge Stake in India's Gland Pharma

Jul 27, 2016

The Economic Times

Fosun Pharmaceutical will sign an agreement to buy a controlling stake in India's Gland Pharma for $1.4 billion, according to the Economic Times. The Chinese firm is said to expand its research and manufacturing capacity in India.

According to Bloomberg, Shanghai-based Fosun has been the most active buyer in China’s healthcare industry, making 17 deals worth $1.6 billion since 2010, mainly investing in biosimilars and small molecule chemical drugs.

Fosun is said to acquire a 96 percent stake, however, another source said Gland will initially buy 86% of the company while Ravi Penmetsa and KKR & Co. may retain a 10% stake, the story said.

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