MoneyWorks4Me

Cipla's arm acquires 14.5% stake in QCIL, Uganda

21 Nov 2013 Evaluate

Cipla’s wholly owned step down subsidiary -Meditab Holdings (MHL) has acquired an additional 14.5% stake in Quality Chemical Industries (QCIL), Uganda for a consideration of USD 15 million. QCIL’s principal activity is manufacturing and selling of pharmaceutical drugs with emphasis on anti-retroviral (ARV’s) and anti-malarial drugs. QCIL has a WHO approved manufacturing facility in Uganda.

MHL was earlier holding 36.55% stake in QCIL. Consequent to the acquisition of aforesaid additional stake, MHL now holds 51.05% stake in QCIL.

Cipla 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.

Peers
Company Name CMP
Sun Pharma. Inds. 1760.00
Dr. Reddys Labs. 1231.85
Cipla 1325.00
Lupin 1955.80
Zydus Lifesciences 1124.30
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