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Fosun Pharma agrees to acquire generics company Gland Pharma; later revises deal terms

Executive Summary

Shanghai Fosun Pharmaceutical Group Co. Ltd. agreed to acquire an 86% stake in generic injectables company Gland Pharma Ltd. for $1.26bn in cash. The shares are being purchased from KKR Floorline Investments (first invested in 2014) and other company shareholders. P.V.N. Raju, Gland's founder, and his son Dr. Ravi Penmetsa will retain a stake in the company.
Deal Industry
  • Contract Research, Toxicology Testing-CRO
  • Pharmaceuticals
  • Services
  • Pharmaceuticals
    • Generic Drugs
Deal Status
  • Final
Deal Type
  • Acquisition
    • Includes Earnout
    • Partial Acquisition
    • Payment Includes Cash

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