Shanghai Fosun Pharmaceutical Group Co.’s Indian unit Gland Pharma will invest $220 million in acquiring privately held French pharmaceutical company Cenexi and pouring a shareholder loan into the operation as it seeks to expand its presence in Europe, reports Caixin.
This is the first asset purchase by the drugmaking arm of conglomerate Fosun International since the debt-laden parent ran into a liquidity crisis this summer that forced it to sell off assets to repay debt.