China's Fosun Pharma acquires 86% stake in Gland Pharma for $ 1.26 bn

Dr Penmetsa said, “This transaction truly demonstrates the strong expertise of our people and the potential for Indian companies to improve health care in markets worldwide. We look forward to continuing our work to research, develop and provide medical products from India and continue to add capacity at our facilities.”

KKR invested in Gland in 2014. Since then, the company has seen its capacity and profit grow significantly. This was achieved, in part, by Gland’s investment into a new manufacturing plant, significant optimization of existing facilities, enhanced R&D spend and focus, and Gland's ability to file for and own further intellectual property.

“With a track record of achieving greater scale, innovating world-class products and operating to global best practices, KKR takes pride in its relationship with Gland and in the company’s support of the Make in India campaign. We are confident Fosun Pharma will experience continued success as it invests and supports Gland’s next stage of growth,” said Joseph Y Bae, member of KKR and managing partner of KKR Asia.

Fosun Pharma is a leading researcher, developer, producer and retailer of biopharmaceutical products worldwide.

Chen Qiyu, chairman of Fosun Pharma, added, “Gland’s management team, along with support from KKR, has done a tremendous job in growing its business to become the global leader in the generics injectables industry. The deal will greatly strengthen Fosun Pharma's global presence and accelerate our speed of internationalisation. It will enable us to provide more high-quality products and services to our patients worldwide.”