Fosun Pharma Inks Deal to Revive Botched China Alzheimer Drug

Shanghai Fosun Pharmaceutical Group Co.will acquire a controlling stake in a Chinese company that developed the country’s first Alzheimer’s drug, with plans to revive halted trials and bring the suspended drug back to the market.

Under the 1.41 billion yuan ($200 million) deal, Fosun Pharma will buy a 53% stake in Shanghai-based Green Valley Pharmaceutical Co. via a unit and a special-purpose vehicle, according to a filing to the Shanghai Stock Exchange on Monday.

The deal would expand Fosun’s product pipeline in central nervous system therapies, the company added. It comes just days after Fosun announced it is co-developing ...