Cipla shareholders approve raising up to Rs 3,000 cr

New Delhi: Indian Drug major Cipla on Saturday said its shareholders have approved a proposal to raise up to Rs 3,000 crore through issuance of equity shares or other securities convertible into equity shares.

In a regulatory filing , Cipla said 99.68 per cent shareholders polled in favour of the resolution to raise funds.

In the month of May this year, Cipla's board had approved raising funds up to Rs 3,000 crore by issue of equity shares/other securities convertible into equity shares.

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Cipla is a global pharmaceutical company focused on agile and sustainable growth, complex generics, and deepening portfolio in our home markets of India, South Africa, North America, and key regulated and emerging markets. Our strengths in the respiratory, antiretroviral, urology, cardiology and CNS segments are well known. Our 46 manufacturing sites around the world produce 50+ dosage forms and 1,500+ products using cutting-edge technology platforms to cater to our 80+ markets.

Cipla is ranked 3rd largest in pharma in India (IQVIA MAT Mar’19), 3rd largest in the pharma private market in South Africa (IQVIA MAT Mar’19), and is among the most dispensed generic players in the US. For over eight decades, making a difference to patients has inspired every aspect of Cipla’s work. Our paradigm-changing offer of triple antiretroviral therapy in HIV/AIDS at less than a dollar a day in Africa in 2001 is widely acknowledged as having contributed to bringing inclusiveness, accessibility and affordability to the center of the movement. A responsible corporate citizen, Cipla’s humanitarian approach to healthcare in pursuit of its purpose of ‘Caring for Life’ and deep-rooted community links wherever it is present make it a partner of choice to global health bodies, peers and all stakeholders.

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