Chinese billionaire Guo Guangchang’s Shanghai-based Fosun Pharmaceutical Group has approached several private equity firms to buy its stake in Hyderabd India-based Gland Pharma according to a report in Money Control
Reportedly, Advent International, Baring Private Equity Asia, Bain Capital, Blackstone, Carlyle and KKR are among those who have been approached. The deal could well be one of the largest pharma deals in India.
Fosun International has a controlling stake of 58 percent in Gland Pharma. Fosun is heavily debt-laden and has been struggling due to the impact of tanking property values in China. Morgan Stanley has been mandated to find a buyer and discussions are still at a preliminary stage.
Gland specializes in sterile injectables, oncology and ophthalmics, and focuses on complex injectables, NCE-1s, First-to-File products and 505(b)(2) filings. Its production of complex generic injectables is powered by R&D expertise and robust manufacturing capabilities. The company has a presence in about 60 countries. In November, Gland announced plans to buy French pharma firm Cenexi for 120 million euros.
Gland is a B2B player and there will be a conflict of interest for Indian companies such as Sun Pharma and Cipla to acquire it since Gland supplies products to their competitors. It is largely a PE play. However, some European CDMO players such as Carlyle-backed Curia, Recipharm, and Siegfried Holding that are larger in size and B2B peers as well, may be interested in the deal.
Last updated: December 26th, 2025
