Cipla's wholly owned subsidiary Meditab Holdings Limited, Mauritius has entered into a definitive agreement to sell its entire 48.22 per cent equity interest in Jiangsu Cdymax Pharmaceuticals Co. Ltd., China (Jiangsu) to an affiliate of one of the other shareholders of Jiangsu, for a total consideration of USD 18.5 million.
The closing of the transaction is subject to receipt of applicable regulatory approvals in China. Cipla share moved up by Rs.10.70 in the afternoon session on BSE to Rs.650.30.