Deals
Fosun Pharma To Buy Gland Pharma for Up to $1.26 Billion
- Deal to be the biggest Indian asset purchase by a Chinese firm
- Share trading to be resumed on Friday after one-day halt
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Shanghai Fosun Pharmaceutical Group Co. plans to buy Indian drugmaker Gland Pharma Ltd. for no more than $1.26 billion.
Fosun Pharma will acquire 86.08 percent of Gland Pharma, according to a statement filed to the Shanghai Stock Exchange on Thursday. Fosun Pharma plans to borrow up to $800 million from financial institutions to help fund the purchase, the company said.