Shanghai Fosun Pharmaceutical to fully acquire French drug distributor Tridem for US$73 million

Shanghai Fosun Pharmaceutical has agreed to fully acquire French drug distributor Tridem for 63 million euros (US$73 million) as the Chinese conglomerate takes another step in its international expansion.

The Chinese drug maker, a unit of Shanghai-headquartered conglomerate Fosun International, said in a statement today that it will buy shares in Tridem from existing shareholders including Financière des Lices, Multicroissance, and a French fund FCPR PMC II.

Fosun Pharmaceutical will have the right to nominate at least four directors to sit on Tridem's board while Financière des Lices shall have the right to nominate one director.

The French company is the third-largest pharma distribution company in French-speaking Africa with a sales network covering 21 countries and regions, according to a stock exchange filing.

Fosun Pharmaceutical said in the statement that it would deepen collaboration with pharmaceutical companies and expand the coverage of marketing pharmaceutical products in international markets (especially Africa), backed by Tridem's mature sales network and client resources  in French-speaking African countries and regions. 

Earlier this month Fosun Pharma bought 74 percent of India’s Gland Pharma for around US$1.1 billion, after previously targeting an 86 percent stake valued at US$1.26 billion.