Shanghai Fosun to buy 74% of India's Gland Pharma for $1.1bn
The board of Shanghai Fosun Pharmaceutical Group has agreed to purchase a 74% stake in Indian drug company Gland Pharma in a deal worth $1.1bn, according to a company statement. The move revives Fosun Pharma's attempt to buy an 86% stake in Gland Pharma last year, which was blocked by the Indian government; foreign firms investing more than 74% in Indian companies must obtain government approval.
For continuing, Please agree our Terms & Conditions and acknowledge our Privacy Policy. This same account can be used across all Elets News portals.