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Cipla to buy 25% in S Africa unit

03 Sep 2010 Evaluate

Cipla is looking to acquire around 25 per cent in the manufacturing division of Cipla Medpro, where it does not hold any stake at present. The deal size could not be ascertained, but it will be the first overseas acquisition by 75-year-old Cipla in any pharmaceutical company. Cipla Medpro, is setting up one of the largest contract manufacturing facilities in Africa at an investment of over Rand 225 million (Rs 145 crore.Recently, it acquired a 25 per cent stake in a Hong Kong-based biotech company with manufacturing units in Shanghai.

Cipla Medpro has three business segments in pharmaceuticals: manufacturing, animal health and agricare. It had a turnover of around Rs 811 crore in 2009. It markets and manufactures drugs in cardio-respiratory, diabetes, oncology, psychiatry and HIV-AIDS categories. It is also the only local company to offer a full basket of diabetes products, such as insulin, oral medications, over-the-counter and Diagnostics.The Company has been a strategic business partner of Cipla for the last 18 years.

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Cipla Share Price

1205.40 -24.20 (-1.97%)
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Peers
Company Name CMP
Sun Pharma Inds. 1642.80
Dr. Reddys Lab 1206.10
Cipla 1205.40
Zydus Lifesciences 904.70
Lupin 2310.00
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