Shanghai Fosun Pharmaceutical Group Co (SHA: 600196) announced that its India-based subsidiary, Gland Pharma Ltd (BOM: 543245), plans to acquire privately held French pharmaceutical firm Cenexi for EUR 120 million (USD 124 million). In addition to the purchase price, Fosun Pharma will provide shareholder loans to Cenexi, with the total transfer consideration and shareholder loans capped at EUR 210 million (USD 217 million).
Cenexi Profile
Founded in 2004, Cenexi is a contract development and manufacturing organization (CDMO) specializing in the development and manufacturing of sterile and biological products. The company serves over 100 clients and operates four manufacturing plants in Europe, all of which comply with US, EU, and Brazilian market standards.
Strategic Implications
The acquisition will significantly enhance Gland Pharma’s capabilities in Europe, particularly in the areas of complex preparation and biologics development, manufacturing, and supply. This move is expected to strengthen Gland Pharma’s position as a leading CDMO and expand its service offerings to a broader European client base.
Fosun Pharma’s Stake in Gland Pharma
Meanwhile, unconfirmed reports suggest that Fosun Pharma may be considering selling its majority stake in Gland Pharma. Fosun Pharma acquired a 74% stake in Gland for USD 1.091 billion in October 2017 and facilitated the company’s public listing in India in 2020, raising RMB 1.11 billion (USD 155.2 million). Following the transaction, Fosun Pharma’s stake in Gland Pharma was reduced to 58.36%.-Fineline Info & Tech
