Serum may acquire Cipla: Report

Serum Institute may acquire Cipla if their European venture is successful, says a report

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The companies had earlier signed a distribution agreement

Serum Institute of India will look at a possible merger with the generic drug maker Cipla, if the European venture between the two companies succeeds, as per a report in Live Mint.

The companies had earlier signed a distribution agreement for affordable pediatric vaccines in Europe.

The report quoted Mr Cyrus Poonawalla, chairman, Serum, "If it's successful, then the merger makes sense, because then we'd be selling as well as manufacturing here, so it'd make a lot of sense. We won't want to make a merger which could end up into nothing."

 

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