Cipla to buy Meditab for $28m
Indian pharmaceutical firm Cipla is to buy Meditab Specialties to boost active pharmaceutical ingredient (API) and intermediate production capacity.
The deal, worth INR1.33bn ($28.3m) according to reports in the Indian press, is being undertaken to facilitate Cipla’s entry into the Chinese, African and Malaysian pharmaceutical markets where Meditab has manufacturing and formulation facilities.
The news follows just days after reports of Cipla’s efforts to find a Big Pharma partner to help it access the $3bn a year choloroflurocarbon (CFC) free inhaler.
The Financial Express suggested that the India drugmaker is in early stage talks with GlaxoSmithKline, Pfizer and Goehringer Ingelheim about a potential deal.
Cipla has not yet issued a statement.
