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Fosun Pharma Scales Back Purchase of India's Gland

publication date: Sep 18, 2017

Shanghai Fosun Pharma has restructured its acquisition of India's Gland Pharma: Fosun now will acquire a 74% stake in Gland, an injectible generic drugmaker, for $1.1 billion. Last July, the two companies agreed on a $1.3 billion deal for an 86% Gland stake. However, China and India's long-standing Himalayan border dispute, which heated up in the last few months, prevented India from approving the transaction. Because an Indian regulator has jurisdiction over any takeover of 75% or more of an Indian company, the two renegotiated the deal lower to bypass the ministry. The acquisition will now close on October 3. More details....

Stock Symbols: (SHA: 600196; HK: 2196)

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