Other Deals - Listed Firms
China’s Fosun Pharma sells 6% stake in oncology player Gland Pharma for Rs.2,800-Cr
China-based Fosun Pharma has sold a 6% stake in publicly listed Gland Pharma for about INR 2,800 crore through block deals. The transaction involved the sale of 98.97 lakh shares to various mutual funds.Founded in 1978, Gland Pharma specializes in sterile oncology formulations and API facilities.The firm’s first-quarter net profit rose 47.1% to INR 317 crore, and revenue increased 19.6% to INR 1,800.2 crore compared to the year-ago period. Following this stake sale, the promoter holding in the company is expected to decrease to approximately 45.77%.
In Jul 2016, Fosun Pharma had acquired 74% stake in Gland Pharma for USD 1,085 M.For FY25, Gland Pharma had reported about INR 4,116 Cr in Operating Income and about INR 1,090 Cr in PAT.
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