Cipla Rationalizes Sri Lanka Operations

Open To Inorganic Growth Opportunities

Looking to rationalize its Sri Lankan operations, Cipla buys 40% stake held by joint venture partner Citihealth Imports in Cipla Pharma Lanka. Wholly-owned subsidiary Breathe Free Sri Lanka will be its vehicle for growth in the country.

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Cipla, Citihealth will now go their own ways • Source: Shutterstock

Cipla Ltd.’s five-year old joint venture with Citihealth Imports (Pvt) Ltd has ended, having served its purpose of allowing the Indian company to entrench itself deeper in a market it has been present in for over 20 years.

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