China Fosun to buy 74% stake in Gland Pharma for $1.1b in revised deal

Shanghai Fosun Pharmaceutical Group Co. Ltd, a unit of China’s Fosun Group, has agreed to acquire 74% of Indian drug company Gland Pharma Ltd for $1.1 billion, the Chinese drugmaker said on Sunday, reviving a deal that was widely speculated to have been blocked by the Indian government.