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Fosun Pharma acquires 74% stake in Gland Pharma for USD1.1 bn

 05-Oct-17, ET Healthworld 

Chinese drug firm Fosun Pharma has acquired approximately 74 per cent in Hyderabad-based Gland Pharma at a valuation of not more than USD1.09 bn, the company has said.

Fosun Pharma acquires 74pc stake in Gland Pharma for USD1 1 bn (c) Gland Pharma Ltd

Image: Gland Pharma Limited

Fosun Pharma and Fosun International said following the completion of the acquisition, Gland Pharma has become an indirect non-wholly owned subsidiary of Fosun Pharma and Fosun International.

The present management team will be in-charge of the day to day running of the company.

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