Moneycontrol Bureau
Shares of Cipla gained nearly 2 percent on Tuesday after its subsidiary received three-year contract from South Africa Government.
"Cipla Medpro, the third largest pharmaceutical company in South Africa, received R2 billion share of the South African Government’s 2015-17 National ARV tender," said the company in its filing to exchange.
The contract is effective from April 1, 2015 and will run for a period of three years.
"Cipla is proud to have been recognised once again as a preferred partner of the State in the national fight against HIV and Aids," said Paul Miller, CEO of Cipla Medpro. Cipla also went further and made this triple combination available in the world’s first 3-in-1 combination ARV, he adds.
This Government tender win was the third in the last year for the pharmaceutical company. Earlier Cipla Medpro won a R280 million state therapeutic drug tender in August 2014 and a R345 million national respiratory tender in June 2014.
The medication will be produced at the plant Cipla Medpro Manufacturing (CMM) based in Kwazulu-Natal, the company said.
The scrip of Cipla closed at Rs 629.65, up Rs 11.25, or 1.82 percent on the Bombay Stock Exchange.
Posted by Sunil Shankar Matkar
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