Cipla Medpro Of India Avoids S. Africa Firm’s Takeover Move
This article was originally published in PharmAsia News
Executive SummaryIndia's Cipla Medpro was saved from a takeover move by a South African drug maker when Cipla's major supplier, Cipla Limited, said it would cancel its agreement if the buyout occurred. Adcock Ingram, South Africa's second-largest pharmaceutical company, had planned to buy Cipla Medpro to increase its share of the generics market. Cipla Limited, rejected the offer, however, causing Adcock to cancel its proposed takeover. The South African firm called for the Johannesburg Stock Exchange to launch an investigation into Cipla Limited's agreements with Cipla Medpro. (Click here for more
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