Fosun Group officials meet KTR

Hyderabad : Chairman of Fosun Group GUO Guangchang along with Frank F. Yao, Co-Chairman, Shanghai Fosun Pharmaceutical Group and Carl Peng, General Manager of International Development called on Industries Minister K. Tarakarama Rao this morning.

Founded in 1992, Fosun is a multinational company with total assets exceeding RMB500 billion as of June 2017. Major portfolio of the group includes Fosun Pharma, Sinopharm, Fosun United Health Insurance, Portugal’s hospital chain Luz Saúde, world’s largest leisure vacation chains Club Med, Atlantis Sanya, Yuyuan Inc., the top brand of Dead Sea mineral Israeli skincare brand AHAVA; Portugal’s largest insurance company Fidelidade, Portugal’s largest listed bank Banco Comercial Português (BCP), the German renowned private bank Hauck & Aufhäuser (H&A), Hong Kong-based Peak Reinsurance and Mybank, among others. Recently Fosun Pharmaceuticals acquired 74% state in Hyderabad based Gland Pharmaceutical at approximately USD 1.1 Bn.

During the meeting, KTR welcomed Fosun to the Hyderabad Life Sciences Ecosystem and assured all cooperation from State Government for smooth operations. He also explained Guo and his team about the Hyderabad Pharma City, Medical Devices Park and Genome Valley clusters of Hyderabad.

Guo expressed that Fosun is happy to be in Hyderabad and is very impressed with the ecosystem. The team also expressed interest in the opportunities in Hyderabad Pharma City and Medical Devices Park.