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FIPB Defers Gland Pharma's Acquisition by Chinese Firm

firstwordpharmaMarch 27, 2017

Tag: Fosun , acquisition

India's Foreign Investment and Promotion Board (FIPB) has delayed a deal by Fosun to purchase Gland Pharmaceuticals for $1.4 billion, as reported Business Standard Friday.

  • In the planned deal reached in July 2016, Fosun would obtain a 86-percent stake in Gland.

  • The agreement was the first reached after India's government relaxed foreign direct investment norms in the country.

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