Arab Today, arab today cipla raises offer price for medpro
Last Updated : GMT 06:37:29
Arab Today, arab today
Arab Today, arab today

Cipla raises offer price for Medpro

Arab Today, arab today

Arab Today, arab today Cipla raises offer price for Medpro

New Delhi - Arabstoday

Drugmaker Cipla Ltd said on Thursday it has increased the offer price for shares it doesn’t own in Cipla Medpro South Africa Ltd to 10 rands for a total consideration of about $512 million, the company said in a release. That’s up from the 8.55 rand offer made for shares in South Africa’s third largest drugmaker in November, which had been opposed by stakeholders. The fresh offer will be implemented through a scheme of arrangement and is subject to regulatory and other approvals including that of Medpro shareholders. Medpro’s board will recommend to shareholders that they approve the scheme. The proposed acquisition will be made either directly by Cipla or by a subsidiary nominated by it and will be funded largely through internal accruals. Other alternatives will also be considered, if required. “South Africa is an attractive emerging market with strong projected growth for generic drugs of approximately 14% per year for the next several years,” Cipla’s chief executive officer Subhanu Saxena said in Thursday’s release. This investment is in line with Cipla’s strategy to ascend the value chain by managing a front-end sales force in a market outside India. Cipla and Medpro have a two-decade relationship. The deal enables Cipla to strengthen Medpro’s position in the South African pharmaceutical market, support the optimization of Medpro’s manufacturing capability and support Medpro’s expansion into collaboratively identified African markets, he added. Shares of Cipla closed 0.96% lower at Rs.360.75 on BSE on Thursday, while the Sensex dropped 1.52% to 18,861.54 points. Livemint

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today cipla raises offer price for medpro Arab Today, arab today cipla raises offer price for medpro

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today cipla raises offer price for medpro Arab Today, arab today cipla raises offer price for medpro

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday