Shanghai Fosun Pharmaceutical (Group) Co. Ltd, the Hong Kong-listed company controlled by billionaire Guo Guangchang, will acquire 96% stake in India’s Gland Pharma Ltd for $1.3-1.5 billion (Rs.8,700-10,000 crore), according to two persons in the know. The Hyderabad-based Gland Pharma is backed by global private equity firm KKR & Co.
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