BRIEF—Fosun Pharma expands in Europe with acquisition

Shanghai Fosun Pharmaceutical Group, one of China’s top drugmakers, has entered into an agreement to acquire all the shares in French drug distributor Tridem for 63 million euros ($73 million), as it continues its aggressive expansion into overseas markets.

The Chinese drug maker said in a statement that it will buy shares in Tridem from major shareholders including Financière des Lices, Multicroissance, and a French fund FCPR PMC II.

Through the acquisition of Tridem, which has a presence in 21 French-speaking African countries and regions, Fosun Pharma could tap into the promising continent with the help of Tridem’s “mature sales network and upstream and downstream resources,” the company said in a filing to the Hong Kong stock exchange.