Fosun Pharma Stays Committed to Expanding through R&D and M&A

Shanghai Fosun Pharma plans to become the “Huawei of the pharmaceutical industry,” according to Qiyu Chen, Chairman of the company. Chen made the comparison because, like the China smartphone company, Fosun will continue to invest in R&D and pursue M&A while it plans further expansion into global markets. Last year, Fosun spent $239 million on R&D, part of the nearly $740 million it has spent over the last five years. And it completed a $1.1 billion acquisition of a majority stake in India 's Gland Pharma, which it says will help Fosun market biosimilar drugs globally. More details.... Stock Symbols: (SHA: 600196; HK: 02196) Share this with colleagues: // //