What if…Fosun Pharma buys Blackmores?

Buying Australia’s leading health supplement brand matches Fosun’s global ambitions — and could also help the target boost its China sales.

In September 2015, Christine Holgate said there has never been a better time to be an Australian health products company. 

The British-born chief executive of Blackmores, a leading Australian vitamins and supplements supplier, was speaking at a time when her company’s shares had soared by as much as five times in a matter of nine months. That was followed by another 50% jump in the next three months. By the end of the year, Blackmores was Australia’s most expensive stock.

The buying spree came at the height of skyrocketing Chinese demand for Australian healthcare products, as food safety became a top priority after a series of...

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