26/04/2023 10:17:55 AM | Source: Reuters
China`s Fosun drops plan to sell stake in Indian drugmaker Gland Pharma
China's Shanghai Fosun Pharmaceutical Group Co Ltd has withdrawn plans to sell stake in Indian drugmaker Gland Pharma Ltd, ET Now tweeted on Wednesday, citing sources.
Fosun Pharma holds a 57.86% stake in the Indian company. Both Fosun Pharma and Gland Pharma did not immediately respond to Reuters' requests for comment.
Shares of Gland Pharma were up 0.8% at 1,360 rupees as of 9:50 a.m. IST. They have plunged 28% since November end, when Bloomberg News had reported, citing sources that Fosun Pharma was considering a sale of Gland Pharma after receiving interest from potential buyers.
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