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Cipla plans investment in its UK subsidiary

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Cipla has collaborated on with the UK Government, its intention to make investments of up to £100 million in its UK subsidiary over the next few years.

The Right Honourable George Osborne, Chancellor of the Exchequer, Her Majesty’s Government of the UK said, “I am happy to be able to announce that Indian pharmaceutical company Cipla will invest up to £100 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.”

“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,” said the Chancellor.

“On the occasion of the 66th anniversary of the British National Health Service (NHS) Cipla believes that, by providing high quality affordable medicines for patients, it can contribute cost effective solutions for the NHS. We are pleased to be making this investment in the UK. We were impressed with the pro-active support and engagement that the UK Government and its various ministries showed in attracting Cipla to choose the UK as a key hub in our global footprint,” said Rajesh Garg, Global Chief Financial Officer and member of the board, Cipla.

EP News BureauMumbai

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