China's Fosun International to consider $500 million IPO of Gland Pharma

Hyderabad-based Gland, founded in 1978, specializes in injectable drugs such as antibiotics, oncology and cardiology treatments

A unit of Fosun International Ltd., the Chinese group backed by billionaire Guo Guangchang, is considering an initial public offering of Indian drugmaker Gland Pharma Ltd., people with knowledge of the matter said.

Shanghai Fosun Pharmaceutical Group Co. is in preliminary talks with potential advisers about an Indian IPO for Gland, according to the people, who asked not to be identified because the information is private. The share sale could raise about $500 million, the people said. Deliberations are at an early stage, and any listing is unlikely to take place before next year, the people said.

Fosun Pharma is weighing an