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