Cipla’s wholly owned subsidiary in UK -- Cipla (EU) has agreed to acquire an additional 19.16% stake in Cipla Maroc SA, joint venture and subsidiary of Cipla EU in Morocco. Cost of acquisition will be around Moroccan dirham 102.90 million. Upon completion of acquisition, Cipla EU will hold 79.16% stake in the JV Co and balance 20.84% stake will be held by Cooper Pharma.
Cipla Maroc SA was incorporated in 2015, in Morocco, as a joint venture between Cipla EU (60%), The Pharmaceutical Institute (PHI) (24.20%) and Societe Marocaine De Cooperation Pharmaceutique (Cooper Pharma) (15.80%) for the purpose of manufacturing, marketing and distribution of pharmaceutical products in Morocco.
Cipla is a global pharmaceutical company which uses cutting edge technology and innovation to meet the everyday needs of all patients.
