Companies

Cipla picks up 100% stake in Celeris

PTI New Delhi | Updated on March 12, 2018

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.

Published on December 05, 2013

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