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Cipla said that its subsidiaries in the UK and Netherlands, respectively, have jointly incorporated Mexicip in Mexico.
The drugmaker said that its wholly-owned subsidiaries Cipla (EU) Ltd, UK, and Cipla Holding BV, Netherlands, incorporated Mexicip, a wholly owned subsidiary, with effect from January 22.
Mexicip is incorporated with an objective of sale and distribution of pharmaceutical drugs in Mexico, it added. Further it said, there would be an infusion of MXN 10,000 and the transaction would be completed by March 31.
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