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 contract manufacturer 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.

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