Fosun Slims Down Bid for Indian Drugmaker
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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