 Cipla gains on acquiring South Africa-based Actor Pharma for $48.6 mn Sep 05, 2023 09:39 AM | Source: capitalmarket.com Cipla advanced 1.35% to Rs 1255.60 after the company said that Cipla South Africa has signed a binding term sheet with Actor Holdings (Pty) Limited to acquire 100% of the issued ordinary shares of Actor Pharma (Pty) Limited. Cipla South Africa is a 100% owned subsidiary of Cipla. It is the third largest pharmaceutical company in South Africa. Cipla South Africa produces world-class medicines at affordable prices for the public and private sectors. This is a strategic acquisition for Cipla South Africa to unlock the future growth opportunities and leverage cost synergies in the South African market.

Source: The North Africa Journal September 05, 2023 10:17 UTC