Fosun Pharma Scales Back Purchase of India's Gland

Shanghai Fosun Pharma has restructured its acquisition of India 's Gland Pharma: Fosun now will acquire a 74% stake in Gland, an injectible generic drugmaker, for $1.1 billion. Last July, the two companies agreed on a $1.3 billion deal for an 86% Gland stake. However, China and India 's long-standing Himalayan border dispute, which heated up in the last few months, prevented India from approving the transaction. Because an Indian regulator has jurisdiction over any takeover of 75% or more of an Indian company, the two renegotiated the deal lower to bypass the ministry. The acquisition will now close on October 3. More details.... Stock Symbols: (SHA: 600196; HK: 2196) Share this with colleagues: // //