Cipla to acquire 21% stake in diagnostic company Achira Labs for Rs 25 cr





Pharma major Ltd on Friday said it will acquire 21.05 per cent stake for Rs 25 crore in Achira Labs Pvt Ltd, which is engaged in development and commercialisation of point of care (PoC) medical test kits in India.


The company has signed definitive agreements with Achira Labs for the purpose, said in a regulatory filing.


“This investment will facilitate a entity’s strategic participation in the PoC and AMR (antimicrobial resistance) space through the design, development, and manufacturing of microfluidics-based technologies,” it said.


Cipla CEO, One India Business, Achin Gupta said, “This investment will further our commitment of bringing innovative, affordable and quality diagnostic solutions for all. We are guided by our purpose of Caring for Life and will continue to make strategic investments to ensure access to point of care test kit solutions.”

A PoC that enables rapid identification of the bug causing an infection would be extremely helpful in choosing the appropriate antibiotic early in the treatment process.


Cipa said the transaction is expected to be completed within 60 days from “the signing of definitive agreements or such other date mutually agreed between the parties and will be subject to conditions precedent set out in the definitive agreements.”

Bengaluru-based Achira is a medical company and develops medical diagnostic products using microfluidic technology with an aim to bring sophisticated medical tests closer to the point of diagnosis, treatment and management.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *