Shanghai Fosun Pharmaceutical (Group) Co will sign a definitive agreement on Wednesday to buy a controlling stake in India’s Gland Pharma in a $1.4 billion deal, the Economic Times newspaper reported, citing a source with direct knowledge.
In May, Shanghai Fosun had made a non-binding proposal to buy Gland Pharma, which is backed by KKR & Co, to boost its drug manufacturing and research and development capacity.
Fosun did not immediately comment, when contacted by Reuters. Gland Pharma made no immediate comment on the report.
The paper said KKR declined to comment.
By Devidutta Tripathy
Source: Reuters
Big Pharma has long seen the potential for AI and machine learning to accelerate drug development. But Novo Nordisk is going a step further by channeling $200 million toward the creation of a computer that will outrun anything in existence.
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