(Yicai Global) Sept. 1 -- A Hong Kong-based wholly-owned subsidiary of Shanghai Fosun Pharmaceutical (Group) Co. [SHA:600196] recently purchased a stake in a pharmaceutical research and development company on the Nasdaq Stock Market.

The subsidiary, Fosun Industrial (Hong Kong) Co. had bought 3,854,995 common shares in Impax Laboratories Inc. [NASDAQ:IPXL] on the secondary market for USD66.5 million (including commissions) as of market close Aug. 30, with the share purchase representing about 5.2 percent of the total outstanding common shares issued to outsiders.

Impax Laboratories specializes in research and development, production and sale of patented and generic drugs. Its core products include Rytary (for treatment of Parkinson's disease), Epinephrine (for emergency treatment of allergic reactions) and Oxymorphone XR (a moderate and severe pain killer).

The company did not elaborate further details of the equity investment in its statement. Guo Guangchang, Fosun Pharmaceutical's actual controller and chairman of Fosun Group, once said that creating a healthcare business ecosystem is one of the strategic priorities for the group.

Fosun Pharmaceutical rallied 20.6 percent yesterday on the news.