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Modi govt blocked China's biggest acquisition in India

Modi govt blocked China's biggest acquisition in India

Amid the India-China standoff at Doklam, a central panel has stalled a bid of $1.3 bn by a China’s Fosun Pharmaceutical Group for a majority stake in a Hyderabad-based brand. The FIPB had cleared the $1.3bn bid by Shanghai Fosun Pharmaceutical Group (SFP) for 86% stake in Gland Pharma, but it now needs clearance from the CCEA. Apparently, there were "genuine concerns" over proprietary technology developed by Gland Pharma.

read more at India.com

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