Fosun Pharma Lands $47 Million Loan from World Bank Unit

Shanghai Fosun Pharma received a loan totaling 300 million RMB ($47 million) from the International Finance Corporation, a World Bank unit. According to the IFC, the new capital will be used for strategic acquisitions, increased R&D, expanded manufacturing capacity, a strengthened distribution network and an improved capital structure. In April, Fosun was OK’d to stage an IPO in Hong Kong, rumored to be in the $800 million range. But the company decided in July to postpone the offering, citing market conditions. More details.... Share this with colleagues: var switchTo5x=true; stLight.options({publisher:'d7871f5b-67bc-4d30-b66f-1465d0b97213'});