The Fosun group led by its billionaire chair Guo Guangchang has snapped up the injectables firm Gland for around $1.26bn, the first mega Chinese buy in the Indian pharmaceutical space. The deal opens up many potential collaborative opportunities, though it remains to be seen how smoothly it sails through in the Indian regulatory maze.

Dr. Reddy’s Laboratories (DRL) has reported a slump in profits for the first quarter, dented by a decline in volume growth and pricing pressure in the US as well as a loss of business in Venezuela. While the firm's long term story appears intact, resolution of compliance issues at its Indian sites and product flows in the US and other markets (DRL expects to participate in a Russian tender for rituximab) could lift investor sentiment significantly.

Indian generic drug giant Dr. Reddy’s says the crash of currencies in some emerging markets may impact earnings as it reported a tough third-quarter in which net profit was sharply below market expectations.