Cipla to invest Rs.225 crore for 75% stake in new facility in Iran

Cipla Ltd, a Rs.9,000 crore plus fifth largest Indian pharmaceutical company, has signed a definitive agreement with its existing Iranian distributor for setting up a manufacturing facility in Iran. Cipla is investing Rs.225 crore over the next three years for a stake of 75 per cent.

The proposed investment is subject to completion of certain conditions precedent and applicable regulatory approvals.