Fosun Pharma to buy France’s Tridem for $73 million

1 min read 30 Oct 2017, 08:41 AM IST Join us

Donny Kwok

Fosun Pharma to buy French drug distributor Tridem Pharma for $73 million in a move to expand its market share in Europe and Africa

This month, Fosun Pharma bought 74% of India’s Gland Pharma for around $1.1 billion. Photo: Reuters

Hong Kong: Shanghai Fosun Pharmaceutical (Group) Co. Ltd said it would buy French drug distributor Tridem Pharma S.A.S. for €63 million ($73 million), in a move to expand its market share in Europe and Africa.

The Chinese drug maker said in a statement that it will buy shares in Tridem from major shareholders including Financière des Lices, Multicroissance, and a French fund FCPR PMC II.

Tridem has a sales network covering 21 French-speaking African countries and regions.

This month, Fosun Pharma bought 74% of India’s Gland Pharma for around $1.1 billion. Reuters

"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!