Cipla’s Netherlands arm to invest up to €16.8 m in Iran venture - (Business Line via NewsPoints Desk)

  • Cipla announced that its subsidiary in the Netherlands will invest up to 16.8 million euros to form a joint venture with its Iranian distributor Ahran Tejarat Company, reported Business Line.

  • According to the news source, the joint venture proposes to undertake manufacturing and marketing of pharmaceutical products in Iran.

  • "As per the agreement, Cipla Netherlands will hold a 75-percent stake in a joint venture company in Iran, while the joint-venture partner shall hold the remaining 25-percent stake,” Cipla said in a stock exchange filing.

  • The acquisition is expected to be completed by March 2017, subject to completion of precedent conditions and regulatory approvals.

  • FirstWord Reports: Providing insight, analysis and expert opinion on important Pharma trends and challenging issues <Click here>

To read more NewsPoints articles, click here.