Updated:29 Mar 2017 03:39:00 PM(IST)
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|Cipla provides update on subsidairy - Cipla Netherlands|
|Cipla announced that, Cipla Holdings B.V., a wholly owned subsidiary of the Company in Netherlands (Cipla Netherlands) has entered into a joint venture agreement with Ahran Tejarat Company (JV Partner).
As per the agreement, Cipla Netherlands will hold 75% stake in a JV company in Iran while the JV partner shall hold the remaining 25% stake. The total expected investment of Cipla Netherlands in cash in the JV company is estimated at being up to a maximum of Euro 16.875 million. The JV company proposes to undertake manufacturing and marketing of pharmaceutical products in Iran.