Cipla Ltd.

Cipla has entered into a definitive agreement to sell its entire 25% stake in Biomab Holding, Hong Kong (BHL) to Biomab Brilliant, British Virgin Islands which holds the remaining 75% stake in BHL, for a total consideration of $25,775,000. Biomab Holding is focused on developing Biosimilars for the Chinese market. The closing of the transaction is subject to conditions precedent and receipt of applicable regulatory and other approvals.

The company’s biological business will further be consolidated under Cipla BioTec. Cipla BioTec will focus on research, development, manufacturing and marketing of Biosimilars, in the field of cancer, auto-immune diseases, respiratory diseases and diabetes.

Cipla has emerged as one of the most respected pharmaceutical names in India as well as across more than 150 countries. Its portfolio includes 1500 plus products across therapeutic categories with one quality standard globally.