Shanghai Fosun Forms $50 Million US JV -- With Itself

Shanghai Fosun Pharma announced a $50 million US joint venture, a JV that includes two Fosun entities. Fosun Pharma USA will pay $25.5 million to own a 51% interest in the new JV, which was not named, and Fosun International, the conglomerate that is the parent of Fosun Pharma and its largest shareholder, will contribute the remainder, $24.5 million. Not much is known about the rationale behind the JV, except that it will be located in the US and focused on innovation in R&D, manufacturing, medical devices and medical diagnosis, which is not a very specific explanation. More details.... Stock Symbols: (SHA: 600196; HK: 2196) (HK: 656) Share this with colleagues: // //