Shanghai Fosun Pharmaceutical Group Co. (HKG: 2196, SHA: 600196) is reportedly considering the sale of its India-based majority-owned Gland Pharma Ltd (BOM: 543245), according to a Bloomberg report. This follows interest from potential buyers, as cited by insiders.
Market Interest and Early Stages
Fosun is reportedly in the early stages of gauging market interest for its stake in Gland. The Chinese firm initially acquired a 74% stake in Gland for USD 1.091 billion in October 2017. Gland subsequently went public in India in 2020, raising RMB 1.11 billion (USD 155.2 million). Following the transaction, Fosun Pharma’s stake in Gland Pharma decreased to 58.36%. Gland currently has a market capitalization of around USD 3.8 billion.
Gland Pharma Profile
Gland specializes in injectable generics across fields such as antibiotics, oncology, and cardiology, with a strong global presence. Fosun Pharma’s parent company, Fosun International, is known to be exploring options to raise cash to shore up its balance sheet. Gland Pharma issued a notice stating it had not been informed of any potential plans for a sale, while Fosun also declined to provide further comment.-Fineline Info & Tech
