Fosun to buy 74% stake in India's Gland Pharma for $1.1 bn
Shanghai Fosun Pharmaceutical Group, a unit of China's Fosun Group, has agreed to acquire 74% stake in Indian drug company Gland Pharma, for $1.1 billion (over â¹7,000 crore). Fosun had previously targeted 86% stake valued at about $1.26 billion. Notably, India allows Foreign Direct Investment (FDI) of up to 74% in existing pharmaceutical firms through the automatic route.