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Cipla Sells Stake in China's Biomab for $25 Million

publication date: Oct 30, 2015
Cipla, one of India's top five drugmakers, will sell its 25% stake in Biomab Holding to its partner, Biomab Brilliant Ltd., for $26 million. After the transaction, Biomab Brilliant will own 100% of the biosimilar company, which is headquartered in Hong Kong, though its operations are in Shanghai. Cipla invested $25 million in Biomab in 2010. Now, Cipla will focus on its own biologics operations in India. More details....

Stock Symbol: (BSE: 500087)

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