Cipla inks pact to acquire 51% stake in Yemeni Co

Tags: Cipla, Companies
Continuing its overseas acquisitions, pharma major Cipla has inked a pact with a Yemeni firm to acquire its majority stake for $21 million (over Rs 125 crore).

The company has signed a definitive agreement to acquire a 51 per cent stake in a pharmaceuticals manufacturing and distribution business in Yemen, it added.

"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," Cipla said.

Given the recent preference to local manufacturing, this secures the company's presence in a fast-growing market. Cipla already has a leading position in Yemen with over 200 products, it added.

As part of its global expansion, Cipla had completed the buyout of South African pharma firm Cipla Medpro for Rs 2,707 crore last year.

It had also acquired Croatia-based firm Celeris, distributor of its products in that country last December.

Shares of Cipla were today trading at Rs 441 per scrip in the afternoon trade on the BSE, up 0.85 per cent from its last close.


  • Banks have been reluctant to transmit RBI policy rate cuts to borrowers

    Banks have been slow in passing the benefit of repo rate cuts by the central bank to their borrowers.


Stay informed on our latest news!


Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs


Arun Nigavekar

Ranking of higher education institutions

Given the massive popularity and growing influence of world university ...

Rajgopal Nidamboor

The pursuit of serene stillness

It may sound strange — that every change in the ...

Dharmendra Khandal

How positive intervention can go a long way

Ten years ago, Sariska tiger reserve declared that there were ...


William D. Green

Chairman & CEO, Accenture