Cipla to invest £100 million in its UK subsidiary
Indian drugmaker Cipla (BSE: 500087) has decided to make a significant investment in its UK subsidiary over the next few years in collaboration with the UK government, it was announced today in conjunction with a visit to India by the UK’s Chancellor of the Exchequer, George Osborne.
Mr Osborne said: “I am happy to be able to announce that Indian pharmaceutical company Cipla will invest up to £100 million [$171 million] in the UK. The investment will fund the launch of a range of drugs in the areas of respiratory, oncology and antiretroviral medicines as well as research and development, clinical trials and further expansion internationally and in the UK.
The Chancellor added: “Cipla is one of India's leading pharmaceutical firms and this decision shows the UK's international strength and attractiveness in this sector as well as its growing importance in Cipla’s long term strategy."
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