Fosun Pharma Drops on Plan to Take Over Alzheimer's Drugmaker Green Valley for USD198.8 Million

Fosun Pharma plans to invest USD198.8 million to acquire a 51% stake in Green Valley Shanghai Pharmaceuticals, known for its Alzheimer's drug GV-971. Shares fell after the announcement. Fosun aims to enhance its central nervous system treatment portfolio and support clinical trials for GV-971. Green Valley faced production halts due to regulatory issues, posting a net loss of USD9.6 million. The acquisition is seen as a strategic move to improve Fosun's market position in CNS treatments.