Shanghai Fosun says it has made a non-binding bid for India's Gland Pharma
HONG KONG, May 16 (Reuters) - Shanghai Fosun Pharmaceutical (Group) Co Ltd said it has made a non-binding proposal for India's Gland Pharma Ltd, a move that would improve its drug manufacturing and research and development capacity.
Gland Pharma founders and KKR, which jointly own about 96 percent of the company, are selling their combined stake, which is valued at between $1 billion and $1.5 billion, people with direct knowledge of the matter told Reuters in April.
(Reporting by Donny Kwok; Editing by Edwina Gibbs)
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