<article>Indian drugmaker <a style="color: #000080;" href="http://www.cipla.com/" target="_blank">Cipla Ltd</a> has entered into an agreement with Biopharma SPA for establishing a joint venture (JV) company in Algeria to manufacture and market respiratory products.</article>

Indian drugmaker <a style="color: #000080;" href="http://www.cipla.com/" target="_blank">Cipla Ltd</a> has entered into an agreement with Biopharma SPA for establishing a joint venture (JV) company in Algeria to manufacture and market respiratory products.
&#8220;Cipla (EU) Ltd, a wholly-owned subsidiary of the company has entered into a definitive agreement with Biopharma SPA for establishing a joint venture company in Algeria,&#8221; Cipla said in a BSE filing on Wednesday.
Cipla had entered into a binding term sheet with its existing partner, Biopharma SPA, for establishing the aforesaid JV firm in February this year.
As per the term sheet, Cipla (EU) Ltd will hold a 40% stake in the JV company while the remainder 60% will be held by a Biopharm-led Algerian consortium. The JV company is expected to make an investment of up to $15 million in the construction of a manufacturing facility.
Cipla’s initial investment in cash in the JV company is expected to be $6 million that will manufacture and market respiratory products facilitating the company&#8217;s front-end presence in Algeria.
Based in Algeria, Biopharm spa engages in the production and distribution of generic drugs, including anti-infective, anti-inflammatory and antalgic, cardiology, dermatology, gastroenterology, neuropsychiatry, pneumo allergology, and rheumatology. It offers liquids, creams and gels, tablets, and powder.
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Cipla has entered into an agreement with Biopharma SPA for establishing a joint venture company in Algeria to manufacture and market respiratory products.

Indian drugmaker Cipla forms JV with Biopharma SPA in Algeria

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Indian drugmaker Cipla forms JV with Biopharma SPA in Algeria

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