Fosun Pharma acquires majority stake in Dongting for $93 million

Shanghai, China-based Fosun Pharma says that it has acquired 77.8% stake in central nervous system and hemostatic drugmaker Hunan Dongting for a consideration of around $93 million.

Fosun Pharma has been focused on CNS drugs in the therapeutic areas and drug development and production with high barriers to entry. Currently, the anti-schizophrenia drug market is gradually expanding, with stable growth, noted Fosun, adding that, as the development of China's national economy and social competition continues to accelerate, this is leading to a sharp increase in various psychological stress factors.

According to statistics from the China Disease Prevention and Control Center for Mental Health, in 2011 there were more than 100 million people with varying degrees of mental illness, including 16 million patients with severe mental illness.