Hyderabad, Jul 16 (UNI) Cipla (EU) Limited, (“Cipla EU”), a U.K. based wholly-owned subsidiary of the leading global pharmaceutical company Cipla Limited and Jiangsu Acebright Pharmaceutical Company Limited (“Acebright”) announced that they have entered into an agreement to set up a joint venture company (“JV Co”) in the People’s Republic of China (“China”).



According to the agreement, upon incorporation, the JV Co will become a subsidiary of Cipla.



Cipla EU will hold an 80 per cent stake and remaining 20 per cent stake by Acebright for a combined investment of USD 30mn, Cipla said in a release here on Tuesday.



Upon incorporation, the JV Co will set up a manufacturing facility for local manufacture of respiratory products.



Acebright Group Chairman Shengping Xu, said, “We have a long-standing partnership of more than 20 years with Cipla and with this Joint venture, our relationship with Cipla would be strengthened more.



We strongly believe the joint venture company will bring more products to Chinese patients in the respiratory segment, Mr Shengping added.



Cipla Managing Director and CEO, Umang Vohra, said, “While our core home markets remain our current growth anchors, we see China as a crucial part of our future roadmap. We have a long-standing relationship with Acebright, and this partnership to build a manufacturing facility in China is a significant step for us.



We are keen to take our well-established expertise in the respiratory segment to patients in China. Simultaneously, we will explore various routes to build a portfolio of products in other therapeutic segments such as oncology, Mr Umang added.

For over eight decades, Cipla has stood for Caring for Life in India and around the world, and we will continue to work towards meeting unmet patient needs through this venture.

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