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Cipla has said that its subsidiary in the Netherlands will be investing up to euro 16.8 million (nearly Rs 120 crore) to form a joint venture with its Iranian distributor Ahran Tejarat Company.
The JV plans to undertake manufacturing and marketing of pharmaceutical products in Iran.
Cipla has said in a BSE filing that “Cipla Holding BV, a wholly-owned subsidiary of Cipla in the Netherlands, has entered into a joint venture (JV) agreement with Ahran Tejarat Company. As per the agreement, Cipla Netherlands will hold a 75 percent stake in a joint venture company in Iran while the JV partner shall hold the remaining 25 percent stake.”
