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Fosun Pharma in $350 Million Auction to Acquire India's Symbiotec Pharma

publication date: Oct 2, 2017

Shanghai Fosun Pharma is one of the companies bidding to acquire a 70% stake in India's Symbiotec Pharma, which supplies steroid-hormone APIs to global markets. Actis, a PE fund, paid $55 million for the 70% block of stock in 2013, and it is now offering its shares for about $350 million, a $500 million valuation for Symbiotec. Symbiotec has revenues of about $60 million per year. Fosun is currently closing its $1.1 billion purchase of a 74% stake in India's Gland Pharma, a generic drugmaker. More details....

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

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