Friday 8 July 2016

Cipla to invest Rs 590 crore for a biosimilars plant in South Africa

NEW DELHI: Drug firm CiplaBSE 1.27 % will invest around Rand 1.3 billion (over Rs 590 crore) to launch a manufacturing facility in South Africa for the production of biosimilars. The company's "proposed biotech subsidiary in South Africa will invest just over R 1.3 billion into the country's first state-of-the-art biotech manufacturing facility, for the production of biosimilars," Cipla said in a statement. For this a memorandum of understanding (MOU) between Cipla BioTec prt ltd he facility will manufacture biosimilar drugs made from living organisms that would be used in the treatment of cancer and other diseases. Construction is scheduled to start in early 2017, with full operations expected to commence in the third quarter of 2018, Cipla said. 

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