Key Developments: Cipla Ltd (CIPL.BO)
Latest Key Developments (Source: Significant Developments)
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
Business Standard reported that Cipla Ltd's Cipla Medpro won a share in South Africa's $667 million contract, as it supplies the bulk of Cipla Medpro's drugs. South Africa on Thursday awarded a $667 million contract to supply life-prolonging HIV medicine to 12 international and domestic firms, including Cipla Medpro, to deal with its biggest health problem. Full Article
Cipla Ltd announced the appointment of Mr. Subhanu Saxena as Chief Executive Officer. Full Article
Economic Times reported that Cipla Ltd has offered to buy a about a 51% stake in Cipla Medpro South Africa Ltd. The Indian firm has offered ZAR8.55 per share, Cipla Medpro said in a statement. The price represents an 11% premium on Cipla Medpro's closing share price on November 20, 2012. Full Article
MUMBAI - Generic drugmaker Cipla Ltd said on Thursday it has asked the Indian government to revoke five patents held by Swiss firm Novartis AG on respiratory drug Onbrez and has launched a cheaper copy to boost access in the local market.