Cipla Ltd.

Pharmaceutical major, Cipla is reportedly planning to acquire office space in central Mumbai. The deal is worth over Rs 270 crore and could be finalized in the next few days.

The proposed deal, which is about 1.30 lakh sq ft at Peninsula Business Park in Lower Parel, is expected to become the company’s new headquarter. Following which, the company’s existing 70-year-old headquarters at Bellasis Road, south Mumbai, would be converted into a training centre.

Cipla manufactures drugs to treat cardiovascular disease, arthritis, diabetes, weight control, depression and many other health conditions. Its products are distributed in more than 180 countries worldwide. The Mumbai-based firm which enjoys the highest share in India's pharmaceuticals market is known for selling low-cost generic versions of anti-retroviral drugs used to fight HIV/AIDS.