Fosun Pharma in $1-$1.5 Billion Bidding War for India's Gland Pharma

Shanghai Fosun Pharma has submitted a non-binding bid to acquire India's Gland Pharma, a maker of injectible drugs. Gland, which put itself up for sale, is valued somewhere in the $1-$1.5 billion range, and several pharmas/investment firms are interested. Three years ago, Kohlberg, Kravis, Roberts invested $191 million for a minority stake in Gland at a $600-$650 million valuation. A prolific deal-maker, Fosun has not previously shown interest in Indian pharmas. More details.... Stock Symbols: (SHA: 600196; HK: 2196) Share this with colleagues: // //