Ci­pla to ac­quire South African drug firm for $33M

BioSpectrum (India) - - FINANCE NEWS -

In­dia’s drug maker firm Ci­pla Ltd has agreed to ac­quire South Africa’s Mir­ren (Pty) Ltd to strengthen its foothold in the African na­tion. Mir­ren, set up in

1983, makes over-the-counter (OTC) phar­ma­ceu­ti­cal prod­ucts. It is South Africa’s fourth-largest phar­ma­ceu­ti­cal com­pany in the pri­vate sec­tor, and also has pres­ence in Namibia and Botswana. Ac­cord­ing to Ci­pla, the trans­ac­tion will en­hance Ci­pla’s OTC port­fo­lio by adding Mir­ren’s well-es­tab­lished brands such as Bronco! cough syrup, Co­ryx, Ten­sopyn and Ul­timag. The deal will also in­crease Ci­pla’s man­u­fac­tur­ing foot­print in Africa. The drug­maker will ac­quire Mir­ren through wholly owned unit Ci­pla Med­pro South Africa (Pty) Ltd. Med­pro was pre­vi­ously Ci­pla’s South African dis­tri­bu­tion part­ner.

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