Cipla, a drug-maker received an approval from the Takeover Regulation Panel for its proposal to takeover Medpro in South Africa. The operative date of the scheme is expected to be mid-July and from July 16, the shares of Medpro are expected to be delisted from JSE. The company has also received approval from shareholders of Cipla Medpro to Cipla’s $488 million offer to acquire 100 per cent stake in it.
The company focuses on development of new formulations and has a wide range of pharmaceutical products. It offers prescription drugs, bulk drugs, animal products and pesticides. It also offers a wide range of food and beverages, baked foods, oral hygiene products, detergents, room fresheners and personal care products.
