Cipla UK arm inks pact to purchase 6.9124 percent stake in Cipla Jiangsu Pharma
Mumbai: Cipla (EU) Limited, wholly owned subsidiary of the Company in UK, has entered into a definitive agreement for the purchase of the entire 6..9124% equity interest of Jiangsu Xidi Pharmaceuticals Co., Ltd. (formerly known as Jiangsu Acebright Pharmaceuticals Co., Ltd.) held in Cipla (Jiangsu) Pharmaceuticals Co., Ltd., China (‘Cipla Jiangsu’), subsidiary.
Upon completion of the transaction, Cipla Jiangsu will become a wholly owned step-down subsidiary of the Company.
Cipla Jiangsu was incorporated in China on 8th August 2019 as a joint venture between Cipla (EU) Limited and Jiangsu XiDi Pharmaceuticals Co., Ltd (‘Xidi’), for the purpose of manufacturing, selling and distribution of pharmaceutical products, research and development services and analytical development services. Cipla Jiangsu has set-up a manufacturing facility in China, primarily focused on inhalation respules products.
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