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 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.

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