New Fosun Funds to Support Gland Bid, Growth, Lower Debt
This article was originally published in PharmAsia News
Hong Kong-listed Fosun Pharmaceutical plans to use new funds raised from super short-term commercial papers to back its subsidiary Jiangsu Wangban Pharmaceutical, and to add liquidity to its non-binding proposal to acquire Indian firm Gland. The group also says it has clear plans to reduce debts to obtain a higher investment rating.
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