Indian Pharmaceutical Gaint Cipla to set up Manufacturing Facility in Iran

[Chanakya's_Chant]

Cipla to set up facility in Iran

Mumbai-based Cipla has signed a definitive agreement with its existing Iranian distributor for setting up a manufacturing facility in Iran. The total contribution from the company over the next 3 years will include machinery, equipment, technical know-how and is expected to be approximately Rs2.25 billion for a 75 per cent stake. The proposed investment is subject to completion of certain conditions precedent and applicable regulatory approvals, said a statement.​

Cipla is in process of expanding business into other Asian countries. Earlier, it had acquired front-end distribution firm in SriLanka and Yemen. In June, Cipla made its fifth global acquisition deal within a span of a year, with buying 51 per cent stake in a pharmaceuticals manufacturing and distribution business in Yemen for $21 million. On June 17, it had acquired a 60 per cent stake in a Sri Lankan company for $14 million. Last month, Cipla had signed an agreement with American company Salix Pharmaceuticals, under which Cipla has granted Salix exclusive rights over certain patent applications in the ‘Rifaximin Complexes’ patents owned by Cipla. Total contribution from the Indian company over the next 3 years will include machinery, equipment, technical know-how and is expected to be Rs2.25 billion for a 75 per cent stake, it added.

The proposed investment is subject to completion of certain conditions and applicable regulatory approvals, Cipla said.

Source:- Oman Tribune - the edge of knowledge​

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[Alphacharlie]

Good News.

Iran wll benefit from Indian Prowess in Medicine and we will Get a New Market.

 

[HariPrasad]

Indian Iranian Bhai Bhai.

 

[Shahryar Hedayati]

 

[yavar]

Indian Iranian Bhai Bhai.

Thanks to India . our only friend . i wish you were our neighbor instead of ..............country
India pay Iran with gold for it,s oil payment .

Sanctions dodge: India to pay gold for Iran oil, China may follow — RT News

thank you India

 

[Skull and Bones]

Cipla is a trustworthy brand name in India. Hopefully it will do good business in the brotherly nation.

 

[Rajaraja Chola]

Way to go...!

 

[Gandhi G in da house]

Cipla is a trustworthy brand name in India. Hopefully it will do good business in the brotherly nation.

Good post mate but somehow, this "brotherly" term for nations sounds good only coming from our Western neighbour.

 

[Skull and Bones]

Good post mate but somehow, this "brotherly" term for nations sounds good only coming from our Western neighbour.

They forge brotherhood to justify their parasitic inclination to any national entity, not true for our cause. Iran doesn't even rank among our top trading partners. It's a mutual admiration.

 

[yavar]

An Iranian delegation has visited the flood-hit Indian-controlled Kashmir to assess the situation and provide support to the people in the disaster zone, Press TV reports.

The delegation met the affected people on Sunday and expressed support for the stricken region.

The team was shocked at the level of damage inflicted by the devastating floods.

“We will see how we can help. We have already sent some relief materials from Delhi… to these people,” Seyed Taqi Naqavi, a member of the delegation, told Press TV.

The presence of the Iranian team in the flood-hit areas drew positive reactions among many, including the political and religious leaders of Kashmir.

“We are quite thankful to our Iranian brothers and the government that has sent the delegation here to assess the situation. This is probably the first international delegation that has come to see the situation. We hope that their efforts can be mobilized at an international level,” said Mirwaiz Umar Farooq, a senior leader of All Parties Hurriyat Conference.

The catastrophic floods, first in more than a century, have wreaked havoc in the Himalayan region, resulting in huge loss of life and property.

The heavy flood has claimed over 200 lives and displaced thousands of others.

Local volunteer groups are now carrying out rescue operations.

This is while the local administration is under fire for its slow response to the crisis.

As Kashmir grapples with the aftereffects of the floods, messages of support and solidarity are pouring in from everywhere

PressTV - Iranian delegation visits flood-hit Indian-controlled Kashmir