Fosun Pharma

A Chinese pharmaceutical company said Wednesday it had agreed to buy at least 100 million doses of the coronavirus vaccine from German company BioNTech, subject to Beijing approving its use.

China's Fosun Pharma-backed Gland Pharma's Rs 6,480 crore IPO had managed to sail through, bagging subscription of a mere 2.06 per cent.

Gland Pharma's public offer will be the largest pharma IPO in the country, as per estimates. It will also be the Indian company, with Chinese parentage, to tap the primary marker for funding.

Gland Pharma IPO: The offer consists of a fresh issue of shares worth around Rs 1,250 crore and an offer for sale of more than 3.4 crore shares by Fosun Pharma, Gland Celsus Bio Chemicals, Empower Discretionary Trust and Nilay Discretionary Trust.

The anchor investors include Government of Singapore, Nomura, Goldman Sachs, Morgan Stanley, SBI Mutual Fund, Axis Mutual Fund and SBI Life Insurance and Fidelity.

The IPO comprises fresh issue of shares amounting to up to Rs 1,250 crore and an offer for sale of more than 3.4 crore shares, draft papers filed with SEBI reveal.

The Chinese firm decided to scale down its proposed acquisition in Gland Pharma to 74% following objections by government bodies.

Fosun had previously sought an 86 percent stake in what is set to be China's biggest acquisition in India.

The closing of the deal, which would be China's largest ever acquisition in India if approved, has now been extended to Sept. 26

Shanghai Fosun Pharmaceutical Group Co Ltd has agreed to buy Gland Pharma - backed by KKR & Co LP - for about $1.4 billion, a person with direct knowledge of the matter said, in India's largest inbound acquisition this year.

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.

Shanghai Fosun Pharmaceutical (Group) Co has made a non-binding proposal to buy India's Gland Pharma, which is backed by KKR and valued at up to $1.5 billion, to boost its drug manufacturing and research and development capacity.

China, already a global powerhouse in high-tech areas from solar panels to bullet trains, is turning its industrial might to the challenge of making more of its own drugs for a vast and ageing population.

A Chinese pharmaceutical company said Wednesday it had agreed to buy at least 100 million doses of the coronavirus vaccine from German company BioNTech, subject to Beijing approving its use.

China's Fosun Pharma-backed Gland Pharma's Rs 6,480 crore IPO had managed to sail through, bagging subscription of a mere 2.06 per cent.

Gland Pharma's public offer will be the largest pharma IPO in the country, as per estimates. It will also be the Indian company, with Chinese parentage, to tap the primary marker for funding.

Gland Pharma IPO: The offer consists of a fresh issue of shares worth around Rs 1,250 crore and an offer for sale of more than 3.4 crore shares by Fosun Pharma, Gland Celsus Bio Chemicals, Empower Discretionary Trust and Nilay Discretionary Trust.

The anchor investors include Government of Singapore, Nomura, Goldman Sachs, Morgan Stanley, SBI Mutual Fund, Axis Mutual Fund and SBI Life Insurance and Fidelity.

The IPO comprises fresh issue of shares amounting to up to Rs 1,250 crore and an offer for sale of more than 3.4 crore shares, draft papers filed with SEBI reveal.

The Chinese firm decided to scale down its proposed acquisition in Gland Pharma to 74% following objections by government bodies.

Fosun had previously sought an 86 percent stake in what is set to be China's biggest acquisition in India.

The closing of the deal, which would be China's largest ever acquisition in India if approved, has now been extended to Sept. 26

Shanghai Fosun Pharmaceutical Group Co Ltd has agreed to buy Gland Pharma - backed by KKR & Co LP - for about $1.4 billion, a person with direct knowledge of the matter said, in India's largest inbound acquisition this year.

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.

Shanghai Fosun Pharmaceutical (Group) Co has made a non-binding proposal to buy India's Gland Pharma, which is backed by KKR and valued at up to $1.5 billion, to boost its drug manufacturing and research and development capacity.

China, already a global powerhouse in high-tech areas from solar panels to bullet trains, is turning its industrial might to the challenge of making more of its own drugs for a vast and ageing population.