Cipla Acquires Inzpera Healthscience for ₹111 Cr

New Delhi, Nov 3 (PTI) Drug maker Cipla on Monday said it has inked a pact to fully acquire Inzpera Healthscience for around Rs 111 crore.

The drug maker has entered into definitive agreements to acquire 100 per cent stake in Inzpera Healthscience, the Mumbai-based firm said in a regulatory filing.

Inzpera is a company incorporated in India in the year 2016 and is engaged in the business of developing, manufacturing and marketing of differentiated paediatric pharmaceutical and wellness products.

The acquisition is a strategic move aimed at combining Inzpera's extensive portfolio of paediatric pharmaceutical and wellness products with the company's strong distribution network and operational capabilities to drive growth and scalability, Cipla said.

The enterprise value of Inzpera stands at around Rs 120 crore, it added.

“After accounting for necessary working capital adjustments, the purchase consideration has been determined to be Rs 110.65 crore for acquisition of equity shares and non-convertible redeemable preference shares, representing 100 per cent of Inzpera's shareholding,” the drug company said.