Cipla completes investment of ZAR 900 million in South Africa subsidiary
Mumbai: Cipla Limited has announced that the Company has completed an investment of approx. ZAR 900 million in Cipla Medpro South Africa Proprietary Limited, South Africa, a wholly owned subsidiary in South Africa against allotment of 40,742,417 shares.
Read also: Cipla to invest ZAR 900 million in equity share capital of South Africa subsidiary
CMSA, is a wholly owned subsidiary of Cipla Limited, and is the holding company for the group operations in South Africa.The group is involved in the manufacturing, marketing, and supply of pharmaceutical products.
The investment will be utilised to reduce inter-group debt and improve the capital structure of CMSA and its subsidiaries, the Company had said.
Medical Dialogues team had earlier reported that Cipla Limited had obtained regulatory approval from Central Drugs Standard Control Organisation (CDSCO) for the exclusive distribution and marketing of Afrezza (insulin human) Inhalation Powder in India.
Established in 1935, Cipla is a global pharmaceutical company focused on agile and sustainable growth, complex generics, and deepening portfolio in its home markets of India, South Africa, North America, and key regulated and emerging markets. It has strengths in the respiratory, anti-retroviral, urology, cardiology, anti-infective, and CNS segments. It has 47 manufacturing sites around the world which produces 50+ dosage forms and 1,500+ products using cutting-edge technology platforms to cater to its 80+ markets.
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