Drug major Cipla today said that its wholly owned subsidiary has acquired 100 per cent stake in Croatia-based firm Celeris d.o.o.
Cipla, however, did not share the financial details of the acquisition.
“Cipla Holding B V, a wholly owned subsidiary of the company, has acquired 100 per cent stake in Celeris d.o.o., Croatia,” Cipla said in a filing to BSE.
Celeris is the distributor of Cipla’s products in Croatia, it added.
Commenting on the development, Cipla MD & Global CEO, Subhanu Saxena, said: “Following our ambition to front-end and establish a platform to market our own products, Celeris represented an opportunity for a ready-made platform, especially for our respiratory launches in Europe.”
Established in 1935, Cipla is one of the world’s largest generic pharmaceutical companies with a presence in over 170 countries.
Shares of Cipla were trading at Rs 388.50 per scrip on the BSE today, down 0.40 per cent from their previous close.
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Published on December 5, 2013
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