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.
%20Gland%20Pharma%20Ltd.png "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.