Fosun, Gland Pharma complete deal

Updated 2017-10-09 14:03:53 Global Times

Shanghai Fosun Pharmaceutical Group announced Sunday that it has completed a transaction involving Indian drug producer Gland Pharma.

Fosun will hold a 74 percent stake in Gland, the Chinese company said in a filing to the Shanghai Stock Exchange on Sunday.

Fosun Pharma struck a deal in July 2016 to buy an 86 percent stake valued at about .26 billion in Gland Pharma. But it trimmed the size of the stake to 74 percent for .1 billion in September this year, according to the filing.

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