Cipla gains on partner's contract win
Shares in drugmaker Cipla rise 1.4 percent after Cipla Medpro won a share in South Africa's USD 667 million contract, as it supplies the bulk of Cipla Medpro's drugs.
November 30, 2012 / 15:13 IST
Shares in drugmaker Cipla rise 1.4 percent after Cipla Medpro won a share in South Africa's USD 667 million contract, as it supplies the bulk of Cipla Medpro's drugs.
Dealers say the company may garner revenues of USD 30-40 million from Cipla Medpro's contract.Also Read: Drug pricing policy: Pharma majors may see impact of 5-10%South Africa on Thursday awarded a USD 667 million contract to supply life-prolonging HIV medicine to 12 international and domestic firms, including Cipla Medpro, to deal with its biggest health problem.Cipla also plans to offer USD 215 million for a majority stake in South Africa's Cipla Medpro to strengthen its presence in Africa's fast-growing market for cheap, generic versions of branded drugs. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
