Fosun Pharma taps big buyout funds for Gland Pharma

NAMIBIA – Namibia has approved the procurement and introduction of the Human Papillomavirus (HPV) vaccine to teenagers for the prevention of cervical cancer. HPV is mainly transmitted through sexual contact and most people

Current estimates indicate that 236 women are diagnosed with cervical cancer every year and 135 die from the disease; among those aware of the disease, low utilisation of screening tests has been reported, this making cervical cancer the second most prevalent cancer in Namibia, after breast cancer. The Centres for Disease Control and Prevention (CDC) states that HPV vaccination is recommended at ages 11–12 but can be given starting at age nine. All preteens need HPV vaccination, so they are protected from HPV infections that can cause cancer later in life. CDC recommends that 11-12-year-olds receive two doses of the HPV vaccine six to 12 months apart.

INDIA – Chinese billionaire Guo Guangchang’s Shanghai Fosun Pharmaceutical has tapped big buyout funds for Gland Pharmaceutical. It is the controlling shareholder of listed generic injectables maker Gland, with 57.86 percent stake. The buyout will trigger an open offer for an additional 26% of the company. Fosun Pharma acquired a 74% stake in Gland for about US$1.1 billion in 2017 from an investor group including KKR & Co.

Hyderabad-based Gland specializes in injectable drugs such as antibiotics, oncology, and cardiology treatments and has a presence in about 60 countries, according to its website. The manufacturer said it would buy French pharmaceutical firm Cenexi for 120 million Euros (US$126.5 million) as it looks to expand its presence in the European market, enhancing its contract manufacturing (CDMO) offerings in the European market.

The acquisition would provide the company with the technical know-how in sterile forms including ophthalmic gel, needleless injectors, and hormones. Through the acquisition, Gland Pharma also gains access to global clients like Bayer, AstraZeneca, Sanofi, Mylan, Organon, as well as biotech players like Stragen, and Advanz Pharma among others.