Shanghai Fosun Pharmaceutical acquired a 74% stake in Gland Pharma for $1.1bn.

Shanghai Fosun Pharmaceutical acquired a 74% stake in Gland Pharma, which manufactures and markets small volume parenteral solutions, for $1.1bn. Mr. Chen Qiyu, Co-President of Fosun Group and Chairman of Fosun Pharma said, “China and India have strong complementarities in the field of pharmaceuticals. The resource grafting of Chinese and Indian pharmaceutical companies represented by Fosun Pharma and Gland Pharma will help promote the internationalization of Chinese pharmaceutical companies in R&D innovation and generic drug export, etc.”