Cipla gets CCI nod to sell 26 percent in consumer healthcare business
NEW DELHI: Drug major Cipla has received approval from fair trade regulator CCI to sell about 26 per cent stake in its consumer healthcare business to Mauritius-based FIL Capital Investments.
In November last year, the company signed an agreement to sell 26.11 per cent in Cipla Health to FIL Capital Investments (Mauritius) II Limited.
However, the financial details of the deal were not disclosed.
In a tweet today, the Competition Commission of India (CCI) said that it "approves acquisition of 26.11 per cent stake in Cipla Health Ltd by FIL Capital Investments (Mauritius) II Ltd".
Through the consumer healthcare business, Cipla has entered the over-the-counter (OTC) healthcare market in India.
In July last year, Cipla's board had approved an investment by Fidelity Growth Partners India and US-based Fidelity Biosciences, through FIL Capital Investments (Mauritius) II or its affiliates in the consumer healthcare business.
In November last year, the company signed an agreement to sell 26.11 per cent in Cipla Health to FIL Capital Investments (Mauritius) II Limited.
However, the financial details of the deal were not disclosed.
In a tweet today, the Competition Commission of India (CCI) said that it "approves acquisition of 26.11 per cent stake in Cipla Health Ltd by FIL Capital Investments (Mauritius) II Ltd".
Through the consumer healthcare business, Cipla has entered the over-the-counter (OTC) healthcare market in India.
In July last year, Cipla's board had approved an investment by Fidelity Growth Partners India and US-based Fidelity Biosciences, through FIL Capital Investments (Mauritius) II or its affiliates in the consumer healthcare business.
Our comments section is governed by our Comments Policy . By posting comments at Medical Dialogues you automatically agree with our Comments Policy , Terms And Conditions and Privacy Policy .
Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.
NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.