CIPLA LTD. - Signs Definitive Agreement

Cipla Ltd has informed BSE that the Company has signed a definitive agreement to acquire a 51% stake in a pharmaceuticals manufacturing and distribution business in Yemen (in turn owned by a UAE based parent company). Given the recent preference to local manufacturing, this secures Company's presence in a fast growing market. Company already has a leading position in Yemen with over 200 products.<br/><br/>Company will pay USD 21 million for this transaction, with additional considerations to be paid over the next 3 years on achievement of agreed milestones.<br/><br/>Closing of the transaction is subject to completion of certain conditions precedent.