Given the slowdown in the Chinese economy, Chinese outbound investments have soared in recent years. Over the last 24 months, Fosun has invested $10 billion in international deals.
Do you know?
Billionaire Guo Guangchang
Known as the Chinese 'Warren Buffet', Guo Guangchang, 49 years old, is one of China's wealthiest and best-known entrepreneurs. His net worth is estimated at $6.9 billion. He briefly went 'missing' last year; it was assumed he was detained as part of a criminal enquiry.
What's in it for Fosun Pharma?
With this acquisition, Fosun gets access to seven of Gland Pharma's manufacturing facilities and R & D units bolstering its presence in the injectable drugs market.
According to rating agency ICRA, non-compliance at manufacturing sites led to a shortage of injectable drugs in the U.S.
The U.S. market is estimated at $8.4 billion and is expected to grow annually at 10%.