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    Home > Medical News > Medical World News > 1.26 billion U.S. dollars holding Indian pharmaceutical company Fosun Pharma accelerated internationalization

    1.26 billion U.S. dollars holding Indian pharmaceutical company Fosun Pharma accelerated internationalization

    • Last Update: 2021-02-21
    • Source: Internet
    • Author: User
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    Fosun Pharma announced on the 29th that it intends to acquire an approximately 86.08 percent stake in Indian pharmaceutical company GlandPharma Limited through a controlling subsidiary of no more than $1.26 billion, including a $50 million or ad liar that the acquirer will pay based on the U.S. listing and sale of Gland's Ino heparin products. This is by far the largest overseas acquisition by a Chinese pharmaceutical company.
    According to the announcement, the Company, the company's wholly-owned subsidiary FOSUNPHARMAINDUSTRIALPTE.LTD. (here referred to as the acquirer), Fosun Industrial (Hong Kong) Co., Ltd. (the joint acquirer) and Gland's existing shareholders and related parties signed the relevant agreement on the 28th. Data show that Gland was founded in 1978, headquartered in Haidraba, India, mainly engaged in the production and manufacture of injectable drugs business, in India' leading companies, is also India's first FDA-approved injection drug manufacturing enterprises, and access to the world's major regulatory markets GMP certification, business revenue mainly from the United States and Europe; According to Gland's audited financial report, it achieved revenue of RMB1,358 million and net profit of RMB314 million for the fiscal year 2016 (April 1, 2015 to March 31, 2016).
    Fosun Pharma Chairman Chen Qiyu said that Gland has an excellent management team and has grown into an internationally influential Indian injection leader, and the acquisition will accelerate the internationalization of Fosun Pharma and promote the internationalization of Chinese pharmaceutical companies in research and development innovation and generics exports.
    said that after the completion of the transaction, Gland will become an important international pharmaceutical manufacturing and registration platform, helping it to promote the industrial upgrading of pharmaceutical manufacturing business, accelerate the internationalization process, enhance the company's market share of needles, while, with the help of the target company's research and development capabilities and the Indian market's unique generic drug policy advantages, grafted Fosun Pharma's existing biopharmaceutical innovation and research and development capabilities, to achieve product line integration and coordination, expand the company's pharmaceutical manufacturing and research and development business scale. (Pharmaceutical Network)
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