Fosun Pharma In $350 Million Auction To Acquire India's SymbioTec
Published: Oct 03, 2017
October 2, 2017 -- Shanghai Fosun Pharma is one of the companies bidding to acquire a 70% stake in India's Symbiotec Pharma, which supplies steroid-hormone APIs to global markets. Actis, a PE fund, paid $55 million for the 70% block of stock in 2013, and it is now offering its shares for about $350 million, a $500 million valuation for Symbiotec. Symbiotec has revenues of about $60 million per year. Fosun is currently closing its $1.1 billion purchase of a 74% stake in India's Gland Pharma, a generic drugmaker.