Cipla Medpro South Africa (Pty) Limited ("Cipla Medpro"), wholly owned subsidiary of Cipla Limited, India ("Cipla"), and South Africa's fourth-largest pharmaceutical company in the private sector, has announced its plans to acquire a 100% stake in Mirren (Pty) Limited ("Mirren"). Mirren is a South African over-the-counter (OTC) pharmaceutical manufacturer and distributor, which has been in operation for 35 years. The transaction is subject to the approval by the Competition Commission of South Africa.
Malcolm Blane, CFO of Mirren; Paul Miller, CEO of Cipla SA; Lynton Lomas, Director of Mirren
Paul Miller, CEO of Cipla South Africa, said that once approved, the transaction will enhance Cipla’s current OTC portfolio, by adding Mirren’s well-established brands such as Broncol cough syrup, Coryx, Tensopyn, and Ultimag. This deal will also increase Cipla’s local manufacturing footprint.
Lynton Lomas, director of Mirren, said: “The acquisition by Cipla will help ensure that the continued growth that the Mirren brands have achieved over the past three years will be sustained. The wellbeing of Mirren’s dedicated staff was one of the biggest deciding factors during this process.”
“We foresee that this transaction will aid Cipla greatly in future by further improving the range of quality medication that we are able to offer South Africans. Furthermore, Cipla aims to take full leverage of this proposed transaction to deliver on its ethos of 'Caring for Life', by providing quality, affordable medical products,” said Miller.
Cipla is a global pharmaceutical company which uses cutting-edge technology and innovation to meet the everyday needs of all patients. Cipla has a legacy spanning more than 80+ years as one of the most respected pharmaceutical companies in India, as well as globally. Our portfolio includes more than 1,500 products across a wide range of therapeutic categories with one quality standard globally. While delivering a long-term sustainable business, Cipla is committed to providing affordable medicines.
Cipla was recognised globally for its pioneering role played in providing access to affordable HIV/AIDS treatment for patients at less than a dollar a day. Its world-first triple combination anti-retroviral (ARV) has helped to treat millions of patients since 2001. Cipla’s research and development focuses on producing innovative products and drug delivery systems.
Cipla Medpro South Africa (Pty) Limited is a wholly owned subsidiary of Cipla Limited, India, and fourth-largest pharmaceutical company in the private sector in South Africa. Through Cipla’s ethos of "Caring for Life", Cipla Medpro produces world-class medicines at affordable prices for the public and private sectors, advancing healthcare for all South Africans.
LEGAL DISCLAIMER: This Message Board accepts no liability of legal consequences that arise from the Message Boards (e.g. defamation, slander, or other such crimes). All posted messages are the sole property of their respective authors. The maintainer does retain the right to remove any message posts for whatever reasons. People that post messages to this forum are not to libel/slander nor in any other way depict a company, entity, individual(s), or service in a false light; should they do so, the legal consequences are theirs alone. Bizcommunity.com will disclose authors' IP addresses to authorities if compelled to do so by a court of law.