When $9.4 billion Fosun Pharma acquired a 74% stake in Hyderabad-based Gland Pharma in 2017, it was the largest Chinese takeover of an Indian company. The $1.1 billion deal was something of a coup for Fosun—at the time, Gland, founded in 1979, was coveted by many other large pharma companies, and with good reason.

In 2003, Gland became the first Indian facility to get the US Food and Drug Administration’s (FDA) approval to manufacture and export injectables.