BioSpectrum India Magazine November issue BioSpectrum India Magazine - Page 38

38 BIOAnalysis BioSpectrum HIGHLIGHTS  Fosun Pharma acquires 74 per cent in India’s Gland Pharma at a valuation for $1.09 billion.  The residual stake will remain with the founder’s (Penmetsa) family.  Gland Pharma’ promoters Ravi Penmetsa and his father P V N Raju will continue on the board of the company. Ravi Penmetsa would remain managing director.  The present management team will be in- charge of the day to day running of the company. offerings. More importantly, this acquisition will give Fosun easy access to the US and Europe markets as well as increase its presence in Asia and India. According to Fosun’s filing, Gland revenues in the fiscal year ending in March were Rs 1,490 crore ($232 million), with 3.14 million rupees in profits. Sanjeev Kumar, Industry Manager, Transformational Health: Life Sciences, Frost & Sullivan, highlighted, “There is a huge opportunity in the injectable industry. In the US alone, over 20 billion injectable drugs are expected to expire in next 5-6 years. Owing to these prospects the market has attracted large pharmaceutical firms to look for expanding in injectable business either by acquisition or through strategic partnership. For example, Mylan, acquired the injectable business of Strides Shasun Ltd in 2013, several other pharma companies such as Baxter, Torrent pharmaceutical etc. are also looking to increase the investment in this segment. Gland pharma is one of the leading developer and manufacturer of generic injectables, which is strategically based in India. Several of its manufacturing facilities are approved by USFDA. Also, a majority of Gland Pharma’s business comes from the US. Therefore, if Fosun collaborates with Gland Pharma, it will have instant access to the US market as well as several other semi-regulated markets.” Fosun’s gain? India’s concerns over the Gland-Fosun deal are not, however, a result of the border tensions, Reuters reported, citing sources familiar with the matter. | November 2017 | www.biospectrumindia.com T Hۘ\\\[HX][XH[]YHۂH\X[\\XHYY[\H]\YۚYX[\[H[\][ۘ[K8'^H]H[ܙH]][۝وH\H\XH\[HH[\B[]K8'HH\HZY [Y][X\ZY 8'[X\Y\[YB\\\H[[\XK[Hٙ\Y^B HZH[H\[KYH[[H[[ۂ]Y[[XH[[K\X[[YH[\X]B[[[[\XX[H]\]\Z[\HHX[][Z]YHوXۛZXYZ\[\˜ۜ\]Y[H]ۈXZ[HYHۘ\ݙ\HܙZYۈZ[ݙ\وHXY[[Y^ܝ\'B]\H \[ZH]H[\H\[KX[H]Y\[H[ \[ZO\YX\][Z[H[HHX܋[X[ݙ\Y[[Y \[H[^\[[X[\XB\[Y\]]Xۙ][ۜX\XZ[Z[[œ\X\^[]\H[YY][X[ۈ[Y\[\H]Z[X[]Hو\[X[YYX[\˂']HؚX]Hو[[H][Y[و\ \XX]]X[ HX܋]\Y[XYYœ\Z]\ \[H[\]]X]X]H[ۙY[\XX]]X[[ݙ\Y[\ݘ[]H^[ۙ \[[۝[YKH[ݙHœ\Z] HH[\]]X]X]H[ۙY[\XX]]X[X܈\Z[YY]]X[\]Z\Y\][ [\][ۘ[\XX\[]\XY\[HX܋[ٙXX[][Y[BH[X[Z[\KZY 'Hݙ\Y[و[XHY[^YHܙZYۂ[\Y[[\\YX\][8'H^Z[Y[Y][X\8'[[ܙZYۈ\[Y\[\\ \[[[YX[YX\\]]ݙ\Y[\ݘ[ \[\XH\[YH[\\Y[[\[[\\[K^BH\\]K'B]]\\[H[Y[HX[^\܂HX[\[YHوZH\Y][][XZ[H[\Y [[\HXZܚ]HZHوB\[H[Yۋ]HۙY\۝ݙ\X\[ۈXZ[Z[X\[8&\X[]Y\[Xˈ]\][\[H[XZ[H[YK]BۛHY\[H]H[\[Z[H]Z[YH\\\KX\Y\[ M[H[Y[[ۈH]\YZY[[\[X[\XX]]X[[X[HXܙ]\KB[\[[\ˈZYPS]8'] \[KHݙ\Y[8&\۝\[HۙKYB[ݙHX^HY\[HYXH[\KH[ݙH\œYH\\\Z[[X[\]ZHH[XX\™X[]Y\\HH][وH[\H[[YH[ۙB[[YX]Z\][ۜ]HY[[[܈\Y[ 'B܈ۙH[X[][\]H[\KZ\\XH[]\Z\\XK[]\X]