Saturday, 20 July 2019

Cipla to acquire South African drug firm for $33M

13 July 2018 | News

The drugmaker will acquire Mirren through wholly owned unit Cipla Medpro South Africa.

Image credit- bestbettingsites.uk

Image credit- bestbettingsites.uk

India’s drugmaker 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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