On the evening of June 19th, Fosun Pharma announced that its holding subsidiary, Fosun Pharma Singapore, sold 9,900,000 shares of Gland Pharma through block trades at an average price of INR1771.81 per share (pre-tax), accounting for 6.01% of the total outstanding shares of Gland Pharma as of June 19, 2024.

Fosun Pharma told Blue Whale Finance that Gland Pharma is a crucial part of Fosun Pharma's global strategy. After this transaction, Fosun Pharma will hold approximately 51.83% of Gland Pharma's shares and maintain its controlling position. The discount rate for this transaction was approximately 3% per share, and the buyers were mainly long-term funds, with an expected return of USD211 million.

Established in 1978, Gland Pharma is headquartered in Hyderabad, India. It primarily engages in the production and manufacturing of injectable pharmaceutical products, with most of its business revenue coming from the United States and Europe. Fosun Pharma completed its controlling acquisition of Gland Pharma in October 2017. In November 2019, Gland Pharma was listed on the main boards of the Mumbai Stock Exchange and the National Stock Exchange of India, with the stock code GLAND.