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Cipla inks pact to make additional investment in Achira Labs

16 May 2024 Evaluate

Cipla has signed definitive agreements for further investment of up to Rs 26 crore (around) in Optionally Convertible Preference Shares of Achira Labs, associate company (Achira) in four tranches, subject to completion of certain milestones. Achira is engaged in development and commercialization of point of care (PoC) medical test kits in India. 

The follow-on investment shall strengthen Cipla’s partnership with Achira, enabling penetration into business domain of designing, developing and manufacturing microfluidics based PoC immunoassay and molecular assay technologies. This expanded investment will enhance its collective abilities to ensure access to point of care test solutions.

Since Cipla’s previous investment in June 2022, Achira has made significant developments in the Product Development and R&D space. Pursuant to the completion of the first tranche of investment, Cipla shall hold 27.27% of the total voting rights in Achira.

Cipla is a global pharmaceutical company which uses cutting edge technology and innovation to meet the everyday needs of all patients.


Cipla Share Price

1238.30 7.55 (0.61%)
17-Apr-2026 16:59 View Price Chart
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Company Name CMP
Sun Pharma Inds. 1675.20
Dr. Reddys Lab 1235.40
Cipla 1238.30
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