 "China's Fosun to sign agreement for $1.4 billion Gland Pharma buy: Report")
Shanghai Fosun Pharmaceutical (Group) Co will sign a definitive agreement on Wednesday to buy a controlling stake in India's Gland Pharma in a $1.4 billion deal, the Economic Times newspaper reported, citing a source with direct knowledge.
In May, Shanghai Fosun had made a non-binding proposal to buy Gland Pharma, which is backed by KKR & Co, to boost its drug manufacturing and research and development capacity.
Fosun did not immediately comment, when contacted by Reuters. Gland Pharma made no immediate comment on the report.
The paper said KKR declined to comment.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)