Looking for bigger partnership with Cipla: Serum Institute

Adar Poonawala, CEO of Serum Institute, believes that a bigger partnership with Cipla will create a big Indian conglomerate. However, he added that the Cipla promoters currently have no plans for a merger and acquisition. Speaking to CNBC-TV18’s Sheeren Bhan on sidelines of World Economic Forum in Davos, Poonawala said that the Serum Institute, in a month’s time, will announce an acquisition in the Czech Republic. The due diligence for the deal is on currently and once in place, it will give the company a strong foothold in Europe. Serum Institute has also invested Rs 1500 crore in its special economic zone (SEZ). Watch video for more.