Fosun Pharmaceutical

Shanghai Fosun Pharmaceutical (Group)
Formerly
  • Shanghai Fortune Industrial
  • Shanghai Fosun Industrial
listed
Traded as
Industry
  • pharmaceutical
  • medical
Founded 1994
Founder
Headquarters Shanghai, China
Key people
Chen Qiyu(chairman)
Wu Yifang(CEO)
Services private hospitals
Increase CN¥03.125 billion (2017)
Total assets Increase CN¥61.914 billion (2017)
Total equity Increase CN¥25.270 billion (2017)
Owner Fosun Int'l (37.94%)
Subsidiaries
Sinopharm Industrial Investment(joint venture)
Sisram Medical(52.83%)
Gland Pharma(74%)
Fosun Long March(100%)
Fosun Industrial(100%)
Chinese name
Simplified Chinese 上海复星医药（集团）股份有限公司
Traditional Chinese 上海復星醫藥（集團）股份有限公司
Chinese short name
Simplified Chinese 复星医药
Traditional Chinese 復星醫藥
former Chinese short name
Simplified Chinese 复星实业
Traditional Chinese 復星實業
Website www.fosunpharma.com
Footnotes / references
in consolidated financial statement[1]

Shanghai Fosun Pharmaceutical (Group) Co., Ltd., known as Fosun Pharmaceutical or just Fosun Pharma is a Chinese listed pharmaceutical company. It was majority owned by Fosun International.[2] Fosun Pharmaceutical is the co-owner of Sinopharm Industrial Investment (Chinese: 国药产业投资), the parent company of fellow listed company Sinopharm Group (Chinese: 国药控股).

The A shares of the company is a constituent of SSE 180 Index as well as its sub-index SSE MidCap Index.[3] The company was ranked 1,662nd in 2018 Forbes Global 2000, a list of top listed companies of the world.[4]

History

Fosun Pharmaceutical is a listed company which started A share[5] initial public offering in 1998 and H share in 2012.[6] The English name of the company was initially known as Shanghai Fortune Industrial Joint-Stock Co., Ltd. (SFIC; Chinese: 上海复星实业股份有限公司),[7] but the transliteration of 复星 was later changed from Fortune to Fosun (as Fosun Industrial[8]), as well as changing the name from Industrial (Chinese: 实业) to Pharmaceutical (Chinese: 医药). The company also shorten the transliteration of the legal suffix 股份有限公司 from Joint-Stock Co., Ltd. to just Co., Ltd..

Shanghai Fortune Industrial Joint-Stock Co., Ltd. was incorporated in 1998, but its predecessor, Shanghai Fortune Industrial Company (Chinese: 上海复星实业公司) was incorporated in January 1994. The majority shareholders in December 1994 were Fosun High Technology (Chinese: 复星高科技) and its parent company Guangxin Technology (Chinese: 广信科技); Guangxin Technology was owned by Guo Guangchang, Liang Xinjun, Wang Qunbin and Fan Wei.[5][8]:8

In 2003 Fosun Pharmaceutical acquired 49% stake of Sinopharm Group (Chinese: 国药控股).[nb 1][8]:30[9] In 2008, a year before the initial public offering of Sinopharm Group, Fosun Pharmaceutical owned the direct parent company of Sinopharm Group, Sinopharm Industrial Investment (Chinese: 国药产业投资) instead; the majority owner of the joint venture was state-owned China National Pharmaceutical Group (Sinopharm).[nb 2][10][11][12]

An intermediate parent company of Fosun Pharma, Fosun International (parent company of Fosun High Technology), became a listed company in 2007.[13]

In 2014 Fosun Pharma was part of a consortium to acquire US-listed Chindex International, which owned private hospitals in Mainland China.[14][15]

In 2016, according to the Financial Times, Fosun Pharmaceutical made the largest Indian corporate takeover by a Chinese company, by acquiring Gland Pharma for no more than US$1.26 billion.[16][17] Despite the offer was revised in 2017 to seek approval from Indian regulators.[18][19] In October 2017, the acquisition of 74% stake of Gland Pharma was completed.[1]:35–36

In September 2017, Israeli subsidiary Sisram Medical (parent company of Alma Lasers) was spin-off as a separate listed company on the Stock Exchange of Hong Kong.[20] As of 31 December 2017, Fosun Pharma owned Sisram Medical 52.83% shares.[21]

In October 2017 Fosun Pharmaceutical, via subsidiaries Fosun Pharmaceutical A.G. and Fosun Industrial[nb 3] bought Tridem Pharma, according to the Financial Times, "an Africa-focused French drug distributor", for not more than €63 million.[22][23]

Shareholders

Fosun Pharmaceutical had two classes of ordinary share: A shares which only traded in mainland China as well as H share which only traded in Hong Kong.

As of 31 December 2017, there was 2,011,190,000 number of A shares and 483,941,000 number of H shares, for a total of 2,495,131,000,[1]:174 which Fosun International's wholly owned subsidiary, Fosun High Technology, owned 936,575,490 and 9,989,000 number of shares respectively.[1]:59

Fosun High Technology also once owned 23.45% of the convertible bond (SSE:100196) of Fosun Pharma in 2003.[8]:6

As of 31 December 2017, co-founder of Fosun High Technology and now co-owner of the parent company of Fosun International, Guo Guangchang and Wang Qunbin, still served as non-executive directors of Fosun Pharmaceutical.[1]:2

As of 31 July 2018, the market capitalization of the H share of Fosun Pharma was HK$20,670,171,725.[24]

Footnotes

  1. ↑ Sinopharm Group was previously transliterated as Sinopharm Holding
  2. ↑ China National Pharmaceutical Group itself was also transliterated as Sinopharm Group before the listing of its subsidiary, Sinopharm Group (formerly Sinopharm Holding).
  3. ↑ Despite it is a namesake of the former name of Fosun Pharmaceutical, Fosun Industrial (simplified Chinese: 复星实业（香港）有限公司; traditional Chinese: 復星實業（香港）有限公司) was incorporated in Hong Kong.[1]:211

References

  1. 1 2 3 4 5 6 2017 Annual Report (PDF). Fosun Pharmaceutical. 17 April 2018. Retrieved 5 August 2018 – via Hong Kong Exchanges and Clearing website.
  2. ↑ Li, Jane (3 April 2018). "Fosun Pharma chief cites Huawei as model for overseas expansion". South China Morning Post. Hong Kong. Retrieved 1 August 2018.
  3. ↑ "SSE MidCap Constituents List" (Microsoft Excel). China Securities Index. Retrieved 5 August 2018.
  4. ↑ "Shanghai Fosun Pharmaceutical on the Forbes Global 2000 List". Forbes. Retrieved 6 August 2018.
  5. 1 2 上海复星实业股份有限公司(筹)招股说明书概要 [Prospectus of Shanghai Fortune Industrial] (in Chinese). Shanghai Fortune Industrial. 23 June 1998. Retrieved 5 August 2018 – via jrj.com.cn.
  6. ↑ Chan, Ray (16 October 2012). "Fosun Pharmaceutical begins taking IPO orders from big investors". South China Morning Post. Hong Kong. Retrieved 5 August 2018.
  7. ↑ 1999年年报 [1999 Annual Report] (PDF) (in Chinese). Shanghai Fortune Industrial. 16 February 2000. Retrieved 5 August 2018 – via Shanghai Stock Exchange website.
  8. 1 2 3 4 2003年年报 [2003 Annual Report] (PDF) (in Chinese). Fosun Industrial. 24 April 2004. Retrieved 5 August 2018 – via Shanghai Stock Exchange website.
  9. ↑ 国药集团复星联合成立首家混合所有制药企. 企业观察报 (in Chinese). 4 August 2014. Retrieved 5 August 2018 – via Sina.
  10. ↑ 2009年年报 [2009 Annual Report] (PDF) (in Chinese). Fosun Pharmaceutical. 25 March 2010. Retrieved 5 August 2018 – via Shanghai Stock Exchange website.
  11. ↑ "Connection Transaction" (PDF) (Press release). Shanghai: Fosun International. 20 June 2008. Retrieved 6 August 2018 – via Hong Kong Exchanges and Clearing website.
  12. ↑ 復星醫藥減持國藥控股. "財話短說" column. Apple Daily (in Chinese). Hong Kong: Next Media. 23 June 2008. Retrieved 6 August 2018.
  13. ↑ Chan, Carol (27 June 2007). "Fosun increases price range of IPO shares". South China Morning Post. Hong Kong. Retrieved 6 August 2018.
  14. ↑ "Fosun and partners buy US hospital operator Chindex for US$433m in sweetened deal". South China Morning Post. Hong Kong. Bloomberg. 23 April 2014. Retrieved 5 August 2018.
  15. ↑ Waldmeir, Patti (22 April 2014). Written at Shanghai. "TPG snaps up Chinese hospital operator". Financial Times. Additional reporting by Zhang Yan. London. Retrieved 5 August 2018. (Subscription required (help)).
  16. ↑ "Fosun to pay $1.1bn for India drugmaker Gland". Financial Times. London. 28 July 2016. Retrieved 5 August 2018. (Subscription required (help)).
  17. ↑ "INSIDE INFORMATION - JOINT ANNOUNCEMENT DISCLOSEABLE TRANSACTION - ACQUISITION OF THE CONTROLLING INTEREST IN GLAND PHARMA LIMITED AND RESUMPTION OF TRADING" (PDF) (Press release). Shanghai: Fosun International, Fosun Pharmaceutical. 28 July 2016. Retrieved 5 August 2018 – via Hong Kong Exchanges and Clearing website.
  18. ↑ Weinland, Don (18 September 2017). Written at Hong Kong. "Fosun revises its offer for India's Gland Pharma". Financial Times. London. Retrieved 5 August 2018. (Subscription required (help)).
  19. ↑ "JOINT ANNOUNCEMENT - DISCLOSEABLE TRANSACTION - PROGRESS ON ACQUISITION OF THE CONTROLLING INTEREST IN GLAND PHARMA LIMITED" (PDF) (Press release). Shanghai: Fosun International, Fosun Pharmaceutical. 17 September 2017. Retrieved 5 August 2018 – via Hong Kong Exchanges and Clearing website.
  20. ↑ He, Laura (18 September 2017). "Fosun unit Sisram Medical's Hong Kong share offer draws strong investor interest, nets company US$88 million". South China Morning Post. Hong Kong. Retrieved 5 August 2018.
  21. ↑ "Report of the Directors". 2017 Annual Report (PDF). Sisram Medical. 25 April 2018. pp. 31–32. Retrieved 5 August 2018 – via Hong Kong Exchanges and Clearing website.
  22. ↑ "Fosun Pharmaceutical to buy French drug distributor Tridem". Financial Times. London. 30 October 2017. Retrieved 5 August 2018. (Subscription required (help)).
  23. ↑ "VOLUNTARY ANNOUNCEMENT - ENTERING INTO SECURITIES PURCHASE AGREEMENT IN RELATION TO THE ACQUISITION OF THE ENTIRE EQUITY INTEREST IN TRIDEM PHARMA S.A.S" (PDF) (Press release). Shanghai: Fosun Pharmaceutical. 29 October 2017. Retrieved 5 August 2018 – via Hong Kong Exchanges and Clearing website.
  24. ↑ "List of H Share Companies". Hong Kong Exchanges and Clearing Limited. 31 July 2018. Retrieved 5 August 2018.
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