BioSpectrum (Asia) - - Analysis -

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 in­charge of the day to day run­ning of the com­pany.

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