Shanghai Fosun Pharmaceutical Group announced Sunday that it has completed a transaction involving Indian drug producer Gland Pharma.
Fosun will hold a 74 percent stake in Gland, the Chinese company said in a filing to the Shanghai Stock Exchange on Sunday.
Fosun Pharma struck a deal in July 2016 to buy an 86 percent stake valued at about $1.26 billion in Gland Pharma. But it trimmed the size of the stake to 74 percent for $1.1 billion in September this year, according to the filing.
