Cipla to form JV with Kemwell Biopharma; share price down marginally

Cipla

Cipla announced plans to incorporate a joint venture company in India with biologics Contract Development and Manufacturing Organization (CDMO) Kemwell Biopharma.

At 09:24am, Cipla was quoting at Rs 1,332.20, down Rs 19.65, or 1.45 percent, on the BSE.

In a press release, the company said it has entered into a joint venture agreement with Kemwell Biopharma for the incorporation of a JV company in India.

The proposed entity will be a 60:40 joint venture between Cipla and Kemwell, with the partners initially investing up to ₹10 crore in the JV in their respective shareholding ratio.

At the time of incorporation, Cipla will subscribe to 6,000 shares of ₹10 each at par, amounting to ₹60,000.

The joint venture will undertake the business of developing, applying for and obtaining licenses for, and manufacturing, commercialising, importing and exporting biologic products. It will also engage in licensing or outsourcing any or all of such activities.

Kemwell is an Asia-based biologics CDMO offering end-to-end services for global biopharma clients. Its Bengaluru-based cGMP facility, certified by the USFDA, houses 5,000-litre bioreactor capacity, sterile fill–finish capabilities, and advanced development laboratories for protein therapeutics.

The company supports commercial manufacturing as well as R&D and clinical programs for novel biologics and biosimilars.

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In another development, its wholly owned subsidiary, Cipla (EU) Limited, UK, has incorporated a new wholly owned subsidiary, ‘Cipla Middle East Company’, in the Kingdom of Saudi Arabia.

In the previous trading session, the share closed at Rs 1,351.85, up Rs 4.20, or 0.31 percent. The share touched a 52-week high of Rs 1,672.20 and a 52-week low of Rs 1,283.00 on 23 October, 2025 and 27 January, 2026, respectively. Currently, the stock is trading 19.16 percent below its 52-week high and 5.37 percent above its 52-week low. The market capitalisation stands of the company stands at Rs 109,199.83 crore.