Cipla Ltd.

Cipla has signed a definitive agreement to acquire a 51% stake in a pharmaceuticals manufacturing and distribution business in Yemen (in turn owned by a UAE based parent company). Given the recent preference to local manufacturing, this secures company’s presence in a fast growing market. The company already has a leading position in Yemen with over 200 products.

The company will pay $21 million for this transaction, with additional considerations to be paid over the next 3 years on achievement of agreed milestones. The closing of the transaction is subject to completion of certain conditions precedent.

Cipla is a global pharmaceutical company which uses cutting edge technology and innovation to meet the everyday needs of all patients. For more than 70 years, Cipla has emerged as one of the most respected pharmaceutical names in India as well as across more than 170 countries.