Fosun’s IPO Plan For India’s Gland Hits Multiple Targets
Need For Funds, Military Tensions With India In Backdrop
Executive Summary
With a proposed IPO, Gland Pharma’s parent company, Fosun Pharma, hopes to raise funds for its injectables business and possibly its COVID-19 vaccine. The move will also cut Chinese ownership against a backdrop of shaky relations between India and China. As investors warm up to pharma stocks, the timing seems right.
You may also be interested in...
Will Serum Institute Join Strides, Gland On The Sputnik V Flight?
While speculation mounts about Serum Institute being next in line for an RDIF partnership, Gland Pharma and Strides unit Stelis sign up to make COVID-19 vaccine Sputnik V. Part of the 550 million dose output tied up from India so far could be consumed domestically, but exports are a possibility as demand from European countries is set to jump.
India-China Tango: Can Gland Sustain Listing Luster?
Gland Pharma, controlled by Chinese group Fosun, makes shining debut on Indian stock markets despite a lukewarm response to its IPO. Will the buoyant market sentiment sustain amid edgy India-China relations?
Strides Readies SteriScience For Injectables Push
Strides is expanding its presence in synthetic injectables via a new company, SteriScience, while keeping its biologics injectables business under Stelis. A head start with existing IP assets and those from a new joint venture with Brooks Labs will enable the fledgling firm to file its first ANDA in fiscal 2021, with break-even foreseen in two years.