Cipla inks investment pact with FIL Capital Investments

Published On 2015-11-29 07:59 GMT   |   Update On 2015-11-29 07:59 GMT
Advertisement
New Delhi : Cipla today said it has inked an investment agreement with FIL Capital Investments (Mauritius) II Limited for its consumer healthcare business.

"Cipla Health Ltd and FIL Capital Investments (Mauritius) II Limited have on November 27, 2015 signed an investment agreement", Cipla said in a regulatory filing.

The investment is subject to approvals from the Foreign Investment Promotion Board and the Competition Commission of India, and the transfer of Cipla's consumer healthcare business to Cipla Health Ltd, it added.
Advertisement

The company however did not disclose the financial details of the agreement.

In July, 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 its recently launched consumer healthcare business.

Through the consumer healthcare business, Cipla has entered the over-the-counter (OTC) healthcare market in India.

Earlier, the Mumbai-based company's board had approved divestment of its consumer healthcare business to Cipla Health, a wholly-owned subsidiary, by way of a slump sale for a consideration of Rs 10.5 crore.

The Indian Consumer Health Care (CHC) is a USD 4 billion market and is growing at a CAGR of 15 per cent. It is expected to be a USD 10 billion market by 2020. MSS ANU
Tags:    

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.

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 .

Similar News