Cipla Gains On Setting Up Joint Venture In China

Cipla shares gained 1.4 percent intraday on July 16 after company entered into an agreement with Shanghai-based Jiangsu Acebright Pharmaceuticals to set-up a joint venture company in the People’s Republic of China.

The joint venture company will manufacture respiratory products in China.


As per the agreement, the JV will become a subsidiary of Cipla. Cipla's wholly-owned subsidiary Cipla EU will hold 80 percent stake and Acebright will retain the balance for a combined investment of $30 million.

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