Cipla To Set Up JV In China
Cipla Ltd, India's third largest pharmaceutical company, is to set up a joint venture project in China to manufacture injectables and infusions, according to Amar Lulla, director of the company.
The capital outlay of the joint venture of will be around $1.5 million. The deal will give Cipla a 50% stake in the holding which will utilize Cipla manufacturing technology.
Meantime, Cipla has reported that it is also planning to enter into an alliance with a German company with the latter providing funds. The firm is also planning to expand its aerosols production and is taking steps to obtain approval for this from the US Food and Drug Administration.
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