Fosun Pharma Lands $47 Million Loan From World Bank Unit

by Richard Daverman, PhD

August 30, 2012 -- Shanghai Fosun Pharma received a loan totaling 300 million RMB ($47 million) from the International Finance Corporation, a World Bank unit. According to the IFC, the new capital will be used for strategic acquisitions, increased R&D, expanded manufacturing capacity, a strengthened distribution network and an improved capital structure. In April, Fosun was OK’d to stage an IPO in Hong Kong, rumored to be in the $800 million range. But the company decided in July to postpone the offering, citing market conditions. More details....