Cipla has signed a definitive agreement with its existing Iranian distributor for setting up a manufacturing facility in Iran. The total contribution from the company over the next 3 years will include machinery, equipment, technical know-how and is expected to be approximately Rs 225 crore for a 75% stake.
The proposed investment is subject to completion of certain conditions precedent and applicable regulatory approvals.
Cipla is a global healthcare company which uses technology and innovation to meet the healthcare needs of patients in various therapy areas. For more than 70 years, Cipla has emerged as one of the most respected pharmaceutical names in India as well as across almost 170 countries. Cipla’s turnover in 2013-14 was $1.7 billion.
