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Fosun Pharma withdraws plans to sell stake in Gland Pharma

Bengaluru: China's Shanghai Fosun Pharmaceutical Group Co Ltd has withdrawn plans to sell stake in Indian drugmaker Gland Pharma Ltd, ET Now tweeted on Wednesday, citing sources.Fosun Pharma holds a 57.86% stake in the Indian company. Both Fosun Pharma and Gland Pharma did not immediately respond to Reuters' requests for comment.Read also: Fosun Pharma said to mull sale of USD 3.6...
Bengaluru: China's Shanghai Fosun Pharmaceutical Group Co Ltd has withdrawn plans to sell stake in Indian drugmaker Gland Pharma Ltd, ET Now tweeted on Wednesday, citing sources.
Fosun Pharma holds a 57.86% stake in the Indian company. Both Fosun Pharma and Gland Pharma did not immediately respond to Reuters' requests for comment.
Read also: Fosun Pharma said to mull sale of USD 3.6 billion Gland Pharma
Shares of Gland Pharma were up 0.8% at 1,360 rupees as of 9:50 a.m. IST. They have plunged 28% since November end, when Bloomberg News had reported, citing sources that Fosun Pharma was considering a sale of Gland Pharma after receiving interest from potential buyers.
Read also: Gland Pharma to infuse Rs 400 crore to expand Genome Valley facility
M.Com
Ruchika joined Medical Dialogue as an Desk Editor for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751