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October 31, 2017

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Drug firm grows with acquisition

SHANGHAI Fosun Pharmaceutical has agreed to fully acquire French drug distributor Tridem for 63 million euros (US$73 million) as the Chinese conglomerate takes another step in its international expansion.

The Chinese drug maker, a unit of Shanghai-headquartered conglomerate Fosun International, said in a statement yesterday that it will buy shares in Tridem from existing shareholders including Financière des Lices, Multicroissance, and a French fund FCPR PMC II.

Fosun Pharmaceutical will have the right to nominate at least four directors to sit on Tridem's board while Financière des Lices shall have the right to nominate one director.

The French company is the third-largest pharma distribution company in French-speaking Africa with a sales network covering 21 countries and regions, according to a stock exchange filing.


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