Cipla enters joint venture with Cooper Pharma and the Pharmaceutical Institute in Morocco

Cipla (EU) Limited will focus on respiratory and neurology portfolio and set up manufacturing plant in the country

Indian pharmaceutical company Cipla has formed a joint venture (JV) agreement with Morocco-based Societe Marocaine De Cooperation Pharmaceutique (Cooper Pharma) and the Pharmaceutical Institute (PHI) to enhance its presence in the region.

Cipla (EU) Limited, a wholly owned subsidiary of the Mumbai-based firm, has signed the JV with the Moroccan companies.

The JV will initially focus on respiratory and neurology products and will also invest in setting up a manufacturing facility in Morocco, the company said.

Cipla (EU) Limited will hold a 60% stake in the JV, while Cooper Pharma and PHI shall together hold 40%. Cipla (EU) Limited will invest up to US$15m in the JV.

Subhanu Saxena, Cipla's MD and Global CEO, said: 'Morocco is an attractive pharmaceutical market in the African continent. This JV is aimed to strengthen Cipla’s presence in Morocco, which is in-line with our global growth strategy to build front-end presence in key markets. Cipla has enjoyed a long-standing business relationship with Cooper Pharma and PHI for over a decade and this JV will further strengthen Cipla’s relationship.'

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