Key Developments: Cipla Ltd (CIPL.BO)

CIPL.BO on Bombay Stock Exchange

24 Dec 2014
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Latest Key Developments (Source: Significant Developments)

Cipla Ltd Announces Appointment Of CFO
Wednesday, 29 May 2013 08:56am EDT 

Cipla Ltd announced that the Audit Committee at its meeting held on May 29, 2013, inter alia, has approved the appointment of Mr. Rajesh Garg as Global Chief Financial Officer (CFO) of the Company effective June 03, 2013.  Full Article

Cipla Ltd's Board Of Directors Recommends Dividend
Wednesday, 29 May 2013 07:54am EDT 

Cipla Ltd announced that the Board of Directors of the Company at its meeting held on May 29, 2013, inter alia, has recommended payment of dividend of INR2 per equity share (face value INR2) for the year 2012-2013 amounting to INR160.58 crores (INR1.6058 billion).  Full Article

Cipla Ltd Announces Firm Offer To Cipla Medpro South Africa Ltd To Acquire 100% Equity Stake
Wednesday, 27 Feb 2013 10:36pm EST 

Cipla Ltd announced that its Board of Directors at its meeting held February 27, 2013,have decided to make and have made a firm offer to the Board of Directors of Cipla Medpro South Africa Ltd to acquire (either through itself or through its nominated subsidiary) 100% of the ordinary shares of Medpro at a price of ZAR 10.00 per share, and to settle all outstanding share options therein. Based on Medpro’s current shares and share options outstanding, the total consideration payable by Cipla or its nominated subsidiary would be approximately $512 million. The Board of Directors of Medpro have recommended to its shareholders to vote in favour of the offer. Also, the independent expert appointed by the Independent board of Medpro is of the opinion the offer is fair and reasonable to the Medpro shareholders.  Full Article

Cipla Ltd Gets Relief In Patent Battle With Pfizer Inc-Business Standard
Monday, 11 Feb 2013 02:15pm EST 

The Business Standard reported that the patent office has again ruled in favour of Cipla, reinstating its earlier decision to revoke the Pfizer Inc’s patent for cancer drug Sutent in India. Following a post-grant opposition by Cipla in October last year, the patent controller had rejected Pfizer’s claim for the patent over Sutent. The patent regulator had said the claimed patent did not involve any inventive step. However, after the rejection, Pfizer appealed in the Supreme Court, which reinstated the patent and returned the case to the patent office for a fresh hearing. After the apex court sent the issue back to the patent controller, the multinational company approached the Delhi High Court seeking a stay on Cipla selling the drug. In December 2012, the court adjourned the case filed by Pfizer and decided to wait for the patent controller’s decision.  Full Article

Cipla Ltd Managing Director To Retire
Wednesday, 6 Feb 2013 06:21am EST 

Cipla Ltd announced that Dr. Y K Hamied has expressed his desire to retire as Managing Director of the Company. The Board unanimously has accepted his proposal to retire as Managing Director effective March 31, 2013. Dr .Hamied, however continues to be the Chairman of the Company in a non-executive role effective April 01, 2013.  Full Article

Aspen, Cipla win share of $860 million South Africa AIDS drug tender

JOHANNESBURG - South Africa will spend 10 billion rand ($860 million) between 2015 and 2017 on life-prolonging HIV/AIDS treatment drugs, health authorities said on Wednesday, as studies show the prevalence of the virus is rising.

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