Cipla Drug major plans setting up manufacturing unit in Iran

Cipla to build manufacturing unit in Iran

11:47 AM, 6th October 2014
Cipla Drug major plans setting up a manufacturing unit in Iran

NEW DELHI, INDIA: Drug major Cipla has signed an agreement with its Iranian distributor for setting up a manufacturing unit in that country. “The company has signed a definitive agreement with its existing Iranian distributor for setting up a manufacturing facility in Iran,” said Cipla in a statement.

“Total contribution from the Indian company over the next three years will include machinery, equipment, technical know-how and is expected to be around 2.25 billion Indian rupees ($36.6 million) for a 75 per cent stake, it added. The proposed investment is subject to completion of certain conditions and applicable regulatory approvals.

 

© The Economic Times News

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