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Quick Take: Fosun to Develop Drugs, Devices With New U.S. Unit

Fosun has expanded overseas in recent years, primarily through mergers and acquisitions. Some of its deals last year include taking majority stakes in Swedish respiratory machine-maker Goldcup and Indian drugmaker Gland Pharma. Photo: Visual China
Fosun has expanded overseas in recent years, primarily through mergers and acquisitions. Some of its deals last year include taking majority stakes in Swedish respiratory machine-maker Goldcup and Indian drugmaker Gland Pharma. Photo: Visual China

Chinese conglomerate Fosun Group is kicking off its overseas investment this year with a plan to set up a U.S. subsidiary to produce pharmaceuticals and develop medical-device businesses.

The unnamed new company — involving an investment of $50 million — will manufacture drugs targeting overseas markets, and develop a line of medical devices and medical diagnosis businesses, according to a statement Wednesday from Fosun’s pharmaceutical unit, Shanghai Fosun Pharmaceutical (Group) Co. Ltd.

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