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Cipla buys SA drug and devices maker

As third-biggest pharmaceutical company, Cipla Medpro SA, had acquired a 100% stake in local drug maker, Anmarat, for R26.3m.
Cipla said the acquisition formed part of its strategy to acquire selected products in the growing therapeutic categories.

Anmarat develops and manufactures medical devices and medication.

©Dmitry Kalinovsky 123rf.com

Cipla MedPro SA, which is 100%-owned by Cipla India, is one of SA's fastest growing pharmaceutical companies.

CEO, Paul Miller, said the group would be implementing "an intensive approach" to grow its portfolio of "quality" and affordable pharmaceutical solutions in more therapeutic areas.

The acquisition would "contribute greatly to Cipla's top line and growth aspirations".

In March, Cipla India sold its southern African veterinary operations to healthcare group Ascendis for R375m. The deal would permit Ascendis to expand into the attractive veterinary drug market with high margin products.

The deal followed a decision by Cipla India to focus on human healthcare only in SA. In July 2016, Cipla said it planned to invest R1.3bn in a biosimilar factory in Durban for cheaper new-generation cancer drugs.
Source: Business Day



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Comment
Dubai Bunnies
Nice Article
Posted on 9 Aug 2017 04:42

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