Hong Kong: Shanghai Fosun Pharmaceutical (Group) Co Ltd said it would buy French drug distributor Tridem Pharma S.A.S. for 63 million euros ($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 Financiere 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 percent of India’s Gland Pharma for around $1.1 billion. ($1 = 0.8618 euros) (Reporting by Donny Kwok; Editing by Edwina Gibbs)