China Fosun's sale of Gland Pharma could be India's biggest pharma deal
In what could well be India's biggest pharma deal, China's Fosun Pharma-owned Gland Pharma is on the block. A number of private equity firms have been approached, including Baring Private Equity, Bain Capital, Blackstone, Carlyle, and KKR.
Hyderabad, India-based Gland Pharma (NSE: GLAND) specializes in injectable drugs such as antibiotics, oncology, and cardiology treatments and has a presence in about 60 countries.
Shanghai Fosun Pharmaceutical Group had acquired a 74% stake in Gland for about $1.1 billion in 2017 from an investor group including KKR & Co. It currently owns 57.86% stake in the Indian generic injectable maker.
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