Cipla To Sell Animal Health Biz

Pharma firm Cipla today said it plans to sell its animal health business in South Africa and sub-Saharan Africa for about Rs 191 crore.Cipla-Animal-Health-Biz

The company has entered into agreements through its wholly owned subsidiary Inyanga Trading 386 Proprietary with the group companies of Ascendis Health, Cipla said in a statement.

Under the agreements, Cipla will divest its 100 per cent stake in Cipla Agrimed Proprietary South Africa and Cipla Vet Proprietary, South Africa, it said. The deal is subject to customary closing conditions, including approval from competition commission of South Africa and is expected to close in the next three months, it said.

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