Cipla to purchase 21.05 percent stake in Achira Labs to develop affordable medical kits in India
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Mumbai: Cipla Limited has announced that the company has signed definitive agreements for acquisition of 21.05% stake (on a fully diluted basis) for an amount of INR 25 crores (approx.) in Achira Labs Private Limited engaged in development and commercialization of point of care (PoC) medical test kits in India.
This investment will facilitate a Cipla entity's strategic participation in the Poe diagnostics and AMR space through the design, development, and manufacturing of microfluidics-based technologies. A Poe that enables rapid identification of the bug causing an infection would be extremely helpful in choosing the appropriate antibiotic early in the treatment process.
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