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Fosun cuts its stake in India drugmaker

Its pared-down 74% stake from the planned 86% in Gland Pharma would have been biggest Chinese takeover


SHANGHAI Fosun Pharmaceutical Group is trimming the size of the stake it will buy in India's Gland Pharma to 74 per cent for US$1.1 billion, in a bid to salvage the stalled deal that would be the biggest takeover by a Chinese firm in India.