“Cipla plans to up its stake in the generic medicine arena by offering a healthy sum of money to SA's Cipla Medpro ”
Cipla to bid for SA affiliate
The New Age
22 November 2012
Indian drug maker Cipla plans to offer $215m (R1.9bn) for a majority stake in South Africa's Cipla Medpro to strengthen its presence in Africa's fast-growing market for cheap, generic versions of branded drugs.
The proposed bid for a 51% stake in South Africa's number three drug company highlights international pharmaceutical firms' growing interest in the continent, particularly as a market for low price versions of medicines that are off patent.
Cipla, which supplies the bulk of Cipla Medpro's drugs but has so far not owned a stake in the business, sells generic drugs to treat HIV and cancer in emerging markets...read the full article
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