Date: 22-Aug-2020

Cipla Quality Chemical Industries Signs Business Transfer Agreement With QCL

Pharma-major Cipla has announced that business transfer agreement has been signed between Quality Chemicals (QCL) and Cipla Quality Chemical Industries (CQCIL), step-down subsidiaries of the company.

As per the deal, QCL will sell entire human healthcare business to CQCIL for a consideration of over US$ 1.27 million.

Subsequent to the sale, QCL will cease to be a subsidiary of the company.

Established in 1935, Cipla is a global pharmaceutical company focused on agile and sustainable growth, complex generics, and deepening portfolio in home markets of India, South Africa, North America, and key regulated and emerging markets.