You are here: Home » Companies » News
Business Standard

China's Fosun to buy 74% stake in Gland Pharma for $1.1 bn in revised deal

India allows foreign investment of up to 100% in pharmaceutical sector but above 74% requires govt approval

Reuters  |  Beijing/Mumbai 

Shanghai Fosun Pharmaceutical Group is trimming the size of the stake it will buy in India's Gland Pharma to 74 per cent for $1.1 billion, in a bid to salvage the stalled deal that would be the biggest takeover by a Chinese firm in India. Fosun Pharma had struck a deal in July last year to buy an 86 per cent stake valued at about $1.26 billion in the Indian generic injectable drugmaker, but the deal had raised concerns among some in the Indian government, a source had told Reuters previously. India allows foreign investment of up to 100 per cent in its pharmaceutical sector ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Mon, September 18 2017. 12:26 IST
RECOMMENDED FOR YOU