Cipla’s wholly-owned subsidiary Cipla Holding has acquired Croatia-based firm Celeris, distributor of its products in that country. According to a PTI report, Cipla, however, did not share the financial figure for which it has made the acquisition.
“Cipla Holding, a wholly-owned subsidiary of the company, has acquired 100 per cent stake in Celeris, Croatia,” Cipla said in a filing to the Bombay Stock Exchange. The company is the distributor of Cipla’s products in Croatia, it added.
Commenting on the development, Subhanu Saxena, Managing Director and Global Chief Executive Officer 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.”
EP News Bureau – Mumbai
