Fosun Pharma Reorganizes Pharmaceutical Retail Business
This article was originally published in PharmAsia News
Fosun International's new fully owned subsidiary Qishen Investment will acquire Fosun Grand Drugstore's 40 percent equity in Sinopharm Medicine Holding for 687 million yuan. The investment firm will also buy 7.04 percent stake in Fosun Pharma for 120 million yuan. After the internal share transfer, Foshun Grand's equity owned by Sinopharm, Qishen and Fosun International will be 51, 47.04 and 1.96 percent respectively. Analysts note that Qishen's establishment seeks to consolidate and streamline Fosun's medical retail business; furthermore, as a new setup, Qishen can legally avoid high taxation which the established companies are subject to.(Click here for more - Chinese Language)
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