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Cipla to acquire majority stake in UAE-based pharma manufacturer for $21M
Posted on :Monday , 28th July 2014
Mumbai-based drugmaker Cipla Ltd is acquiring 51 per cent stake in a UAE-based pharmaceutical company which has manufacturing and distribution business in Yemen for $21 million.
“Given the recent preference to local manufacturing, this secures the company’s presence in a fast growing market,” the company said in a stock exchange announcement.
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