Cipla acquires 51% stake in Yemen
June 30, 2014 | Monday | News | By BioSpectrum Bureau
Cipla acquires 51% stake 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.
