Fosun Pharmaceutical looks to continue Indian spending spree

Shanghai-based Fosun Pharmaceutical is in talks to acquire the manufacturing facilities of Symbiotec Pharmalab, reports Indian press.

The API-maker, which is 70% owned by private equity fund Actis, has been put up for sale with a valuation of about half a billion dollars.

The deal would be the second major Indian acquisition for Fosun, following its recently revived bid for Gland Pharma.

After Indian regulators threatened to block the Chinese giant’s proposed takeover of Gland, Fosun changed its offer, saying it would take 74%, rather than 86% of the company, thereby avoiding triggering an automatic regulatory review.