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China's Fosun to expand Gland Pharma operations in India

Frank Yao, Co-Chairman, Fosun Pharma who was in India, told Moneycontrol that the integration process of Gland Pharma with Fosun is over, and Fosun has plans to expand manufacturing footprint and add more products to the pipeline.

February 28, 2019 / 10:23 PM IST

Chinese drug maker Fosun Pharma which has acquired around 74 percent in Hyderabad-based Gland Pharma said it has plans to expand operations in India.

Frank Yao, Co-Chairman, Fosun Pharma who was in India, told Moneycontrol that the integration process of Gland Pharma with Fosun is over, and Fosun has plans to expand manufacturing footprint and add more products to the pipeline.

Yao said they may consider putting up a new plant in the Hyderabad Pharma City. Yao declined to give details of the quantum of investment.

Fosun acquired a 74 percent stake in Gland Pharma for $1.09 billion in October 2017. This was the largest ever Chinese acquisition in India.