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Fosun Slims Down Bid for Indian Drugmaker

By Coco Feng
Fosun Pharma's planned purchase of a 74% stake in Gland Pharma Ltd. — down from the previously planned 86% — will free the $1.1-billion deal from a compulsory review by India’s Foreign Investment Facilitation Portal and Cabinet Committee on Economic Affairs. Photo: Visual China
Fosun Pharma's planned purchase of a 74% stake in Gland Pharma Ltd. — down from the previously planned 86% — will free the $1.1-billion deal from a compulsory review by India’s Foreign Investment Facilitation Portal and Cabinet Committee on Economic Affairs. Photo: Visual China

Shanghai-based Fosun Pharma has decided to buy a slimmed-down stake in Indian drugmaker Gland Pharma Ltd., allowing it to bypass an Indian government review that has caused the deal to be postponed three times.

The purchase of a 74% stake, down from the previously planned 86%, would free the $1.1-billion deal from a compulsory review by India’s Foreign Investment Facilitation Portal and Cabinet Committee on Economic Affairs, Shanghai Fosun Pharmaceutical Group Co. Ltd. said Monday.

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