Cipla moves to buy SA's Cipla Medpro
Agencies: New Delhi, Nov 21 2012, 17:52 IST
Pharmaceutica in 1993 – one of the country's South Africa's first generic medicine firms as the industry opened up in South Africa. It became one of the top three after Smith tied up a deal with India's largest generic medicines manufacturer, Cipla.
Following Smith's exit, some analysts felt that it would negatively impact Cipla Medpro, but Chairman Sibusiso Luthuli had said the agreement with its Indian supplier, which had no stake in the South African company, would not be affected.
Cipla Medpro and Cipla were at the centre of a controversy in 2009 regarding the 20-year pipeline agreement between them when South African drugs manufacturer Adcock Ingram launched a hostile takeover bid for Cipla Medpro.
Adcock Ingram had later shelved its plans to acquire Cipla Medpro, largely based on the threat by Cipla to terminate the 20-year exclusivity agreement if there was a change in its management.
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