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China's Fosun to sign Agreement for $1.4 billion Gland Pharma buy
Shanghai Fosun Pharmaceutical (Group) Co <2196.HK> will sign a definitive agreement on Wednesday to buy a controlling stake in India's Gland Pharma in a $1.4 billion deal, the Economic Times newspaper reported, citing a source with direct knowledge.
In May, Shanghai Fosun had made a non-binding proposal to buy Gland Pharma, which is backed by KKR & Co <KKR.N>, to boost its drug manufacturing and research and development capacity.
Fosun did not immediately comment, when contacted by Reuters. Gland Pharma made no immediate comment on the report.
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