China's Fosun in $1.3 billion deal to buy 86% stake in Gland Pharma

28 July 2016
mergers-acquisitions-big

China’s Fosun Pharma (HK: 02196) has agreed to buy an 86% stake in Gland Pharma, an Indian injectables company backed by American investment company KKR, for a sum of up to $1.3 billion.

The Shanghai based company plans to raise up to $800 million in loans to help fund the deal, while KKR, which invested in Gland two years ago, is selling its stake.

Hyderabad-based Gland is a global supplier of a variety of medicines administered through vials, syringes, bags and pumps. Its largest exports market is the USA, where sales of injectables are predicted to grow by about 10% annually in the next five years.

This article is accessible to registered users, to continue reading please register for free.  A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Login to your account

Become a subscriber

 

£820

Or £77 per month

Subscribe Now
  • Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
  • Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
  • Daily roundup of key events in pharma and biotech.
  • Monthly in-depth briefings on Boardroom appointments and M&A news.
  • Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK

Companies featured in this story

More ones to watch >


Today's issue

Company Spotlight





More Features in Pharmaceutical