pharmaceuticals

US generics company Mylan wins go-ahead to buy Bangalore-based injectables business from India’s Strides Arcolab.

The upsized deal comes at a 10.2% discount and will open the door for the private equity firm to convert part of an $860 million CB following a surge in the share price.

The Chinese drugs distributor completes the fourth-biggest equity capital-raising in Asia this year through a private placement, while Shui On Land announces a rights issue of at least $474 million.

The deal is well-received, particularly by outright investors who see good growth potential for the Kosdaq-listed developer of biologic drugs.

The market remains challenging for new listings and both deals attract modest demand from international investors, with Fosun forced to reallocate shares to retail investors to make up for the lack of institutional interest.

Prudential agrees to buy $50 million worth of shares, bringing the total cornerstone investment to $75 million.

The UK retailer and wholesaler of drugs and beauty products is paying $91 million for the stake and will also form a strategic alliance with the Shanghai-listed firm.

The deal aims to increase the free-float in the Indonesian pharmaceutical and consumer products company from the current 5%. Meanwhile, Global Mediacom is getting ready to spin off its pay-TV unit.

United Labs' renminbi-denominated convertible bond comes at attractive terms, but still falls below par.