Cipla acquires 51% stake in Yemen

In a press release on June 30, 2014, Cipla announced that it has a definitive agreement to acquire 51% stake in a pharmaceuticals manufacturing and distribution business in Yemen

yemen-flag

Yemen is one of the fastest growing markets in the Middle East

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 according to a press statement.

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.

According to Cipla, closing of the transaction is subject to completion of certain conditions precedent.

Leave a Reply Sign in

Notify me of follow-up comments via e-mail address

Post Comment

Survey Box

GST

GST: Boon or Bane for Healthcare?

Send this article by email

X