Cipla, Kemwell Ink Joint Venture Pact to Boost Global Biologics Play
New Delhi: Cipla Limited has announced that it has entered into a 60:40 joint venture agreement with Kemwell Biopharma Private Limited for incorporation of a new joint venture company in India to develop, manufacture and commercialise biologics for global markets.
The agreement was executed on March 2, 2026, and the company has informed the stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
As per the filing, the proposed joint venture company (JV Company) will undertake the business of developing, applying for and obtaining licences for, manufacturing, commercialising, importing and exporting biologic products. The entity will also engage in licensing or outsourcing of any or all of these activities.
Kemwell is an Asia-based biologics Contract Development and Manufacturing Organisation (CDMO) offering end-to-end services for global biopharma clients. Its Bengaluru-based current Good Manufacturing Practices (cGMP) facility, certified by the US Food and Drug Administration (USFDA), houses a 5,000-litre bioreactor capacity, sterile fill-finish capabilities, and advanced development laboratories for protein therapeutics. The company supports commercial manufacturing, research and development, as well as clinical programmes for novel biologics and biosimilars.
According to the details disclosed in Annexure I, the JV Company is yet to be incorporated; therefore, particulars such as name, size and turnover are not applicable at this stage. The transaction does not fall within related party transactions and is solely towards incorporation of a new joint venture entity in the pharmaceutical industry.
The objective behind incorporating the JV Company is to strengthen capabilities in biologics development and manufacturing for global markets. No governmental or regulatory approvals are required at this stage, and no indicative timeline for completion has been specified.
The joint venture will be funded through cash consideration, with the partners initially investing up to Rs 10 crore in their respective 60:40 ratio. At the time of incorporation, Cipla will subscribe to 6,000 equity shares of Rs 10 each at par, amounting to Rs 60,000.
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