Chinese investors are seeking opportunities to acquire Indian drugmakers, as reported The Times of India Thursday.
"Today, more and more Chinese companies see India as their first destination when going global," remarked Wang Dehua, Director of the Institute for the Southern and Central Asian Studies at the Shanghai Municipal Center for International Studies.
Earlier this year, Fosun Pharmaceutical unveiled plans to acquire an 86-percent stake in Gland Pharma for about $1.3 billion.
"Fosun is not merely targeting the Indian market through its acquisition of Gland Pharma", Wang noted, adding, "India leads the world in generic drugs and its industry is quite internationally oriented. Acquiring Gland Pharma could help Fosun crack overseas markets."
Meanwhile, Indian commerce minister Nirmala Sitharaman revealed that the country is taking steps to revive its active pharmaceutical ingredient sector to lessen its dependence on exports from countries such as China.
Additionally, Indian drugmakers with offices in China have complained of a lack of market access and an overly restrictive regulatory environment.
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