Pharma companies eye US acquisition

Rival Chinese groups in the same sector line up to bid for same target

Outbound Chinese pharmaceutical companies are consolidating their deployment in overseas markets, with both Fosun Pharma and Shanghai Pharmaceuticals eyeing the same acquisition target.

According to the filings of the two companies respectively released on Monday, both Fosun Pharma and Shanghai Pharmaceuticals submitted non-binding proposals on July 19 to bid for stakes in US specialty pharmaceutical company Arbor Pharmaceuticals.