Strides Shasun has announced plans to sell Shasun Pharma to its current management, a provider of contract research and manufacturing services in the UK.

The sale consideration is expected to be approximately $36m and will be completed by September 2016.

Shanghai Fosun Pharma has announced a non-binding proposal to acquire Gland Pharma for a purchase consideration ranging between $1bn and $1.5bn.

The company expects that the acquisition will help develop its drug manufacturing and research and development (R&D) capacity.