Yatin Mota – CNBC AWAAZ
Pharma Major Cipla is all set to announce an acquisition shortly in the US market, two sources familiar with the development on the condition of anonymity told CNBC Awaaz.
Cipla according to sources is said to have completed due diligence of a company specialising in respiratory and inhaler portfolio.
The acquisition is also said to boost Cipla's business in the US especially a segment which caters to the US government orders in COVID times.
"Cipla has completed due diligence of a company in US and the acquisition size could be Rs 700-1,000 crore in value. Cipla is most likely to close the deal in a months’ time," said one of the sources mentioned above.
The acquisition will help Cipla to boost manufacturing capabilities in the US along with getting some ANDA pipeline in the future.
Cipla is looking to focus on the US Markets with increased drug approval pipeline and inorganic growth opportunities especially having manufacturing facilities in the US.
