Cipla Enters Egyptian Joint Venture

Cipla of India has reached an agreement to form a joint venture with Egyptian company Heliopharma. On a royalty basis, Cipla will provide technical know-how for products in the cardiovascular, asthma and ophthalmology fields, and will use the marketing network of Heliopharma to promote its products in Egypt, according to the Marketletter's correspondent.

Amar Lulla, director of Cipla, has said his company plans to set up manufacturing facilities in Egypt within a year under the joint venture. An investment of some $2-$3 million has been earmarked.

Cipla hopes to achieve sales of $11.5 million from the joint venture in the first year after registration. It is expected that the registration will be completed within a year or less. Mr Lulla said that Cipla hopes to serve African and Middle East markets from Egypt.