Fosun buys 74% stake in Gland Pharma
New Delhi, October 4
Chinese drug firm Fosun Pharma has acquired approximately 74% in Hyderabad-based Gland Pharma at a valuation of not more than $1.09 billion, the company has said.
Since all the conditions precedent of the acquisition of the controlling interest in Gland Pharma have been satisfied, the Boards of directors of Fosun Pharma and Fosun International are pleased to announce the completion of the acquisition of the controlling interest in Gland Pharma, the companies said in a joint statement.
Gland Pharma has become an indirect non-wholly owned subsidiary of Fosun Pharma and Fosun International. — PTI
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