Thursday, 19 January 2017

Cipla`s arm enters into agreement with Shriji Polymers

Leading pharma giant, Cipla Ltd has said that Goldencross Pharma Private Limited, wholly owned subsidiary of Cipla Limited has entered into a definitive agreement to sell its 100 per cent equity stake in Four M Propack Limited, India to Shriji Polymers (India) Limited ("Shriji Polymers") for a consideration of Rs.13.5 crores and an additional sum derived on the basis of the value of mutual funds, cash and bank balance, tax refunds, etc. at the time of closing estimated at around Rs.5.7 crores. 

Cipla is a global pharmaceutical company whose goal is to ensure that no patient shall be denied access to high quality & affordable medicine and support. Meanwhile, shares of the company were trading at Rs 584.55 apiece, up 0.51 per cent from the previous close at 09:32 hours on BSE.

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