Cipla inks agreement to acquire 51% stake in pharmaceutical company in
Yemen
30/06/2014 11:42
Cipla today said that it has signed a definitive agreement to buy a 51 per cent stake in a pharmaceuticals manufacturing and distribution business in Yemen with transaction value of USD 21 million. “Given the recent preference to local manufacturing, this secures Company's presence in a fast growing market. Company already has a leading position in Yemen with over 200 products,” the company said in a filing to the Bombay Stock Exchange. Meanwhile, shares of the company were trading at Rs 441.50 a piece, up 0.96 per cent on BSE at 11:36 hours.
30/06/2014 11:42
Cipla today said that it has signed a definitive agreement to buy a 51 per cent stake in a pharmaceuticals manufacturing and distribution business in Yemen with transaction value of USD 21 million. “Given the recent preference to local manufacturing, this secures Company's presence in a fast growing market. Company already has a leading position in Yemen with over 200 products,” the company said in a filing to the Bombay Stock Exchange. Meanwhile, shares of the company were trading at Rs 441.50 a piece, up 0.96 per cent on BSE at 11:36 hours.
