Cipla, however, did not share the financial figure for which it has made 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.
The company 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 today trading at Rs 388.50 per scrip on BSE, down 0.40 per cent from its previous close.