On July 15, 2020 Gland Pharma, an Indian generic drug maker majority owned by Shanghai Fosun Pharma, reported that it has filed to raise at least $650 million in an IPO on the Bombay and India National Stock Exchanges (Press release, GLAND PHARMA LTD, JUL 15, 2020, View Source [SID1234562022]). In 2017, Fosun acquired a 74% stake in Gland for $1.1 billion. Gland makes complex generic injectible drugs that are sold largely in the US and EU. For India, Gland will be the first China controlled company listed on their domestic markets.

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