MUMBAI Feb 28 Indian drugmaker Cipla
said it has offered to buy all shares in South Africa's third
largest drugmaker Cipla Medpro for a total
consideration of about $512 million.
Cipla, India's fifth largest drugmaker by sales, had last
year offered to buy 51 percent equity in Cipla Medpro for $215
million at 8.55 rands a share. Cipla has now raised the price to
10 rands a share, it said in a statement.
The Indian drugmaker's Chairman Y. K. Hamied had said early
this month the company had put the deal on hold.
Shares in Cipla were up 0.8 percent at 367.40 rupees by 0346
GMT when the Mumbai market was up 0.88 percent.
(Reporting by Kaustubh Kulkarni; Editing by Jijo Jacob)