Pharma company Cipla to increase stake in GoApptiv to 22 pc

New Delhi [India], June 28 : Pharmaceutical company Cipla will acquire an additional stake worth Rs 25.90 crore in digital tech company GoApptiv, thus increasing its stake in the latter to 22.02 per cent, it said in a regulatory filing to the stock exchanges.
Established in 1935, Cipla is a global pharmaceutical company focused on India, South Africa, North America, and other emerging markets, and its strength lies in respiratory, anti-retroviral, urology, cardiology, and anti-infective segments.
The process is likely to be completed within 30 days or such other date mutually agreed between the parties, the regulatory filing said.
The company said its earlier investment in the GoApptiv in June 2020 has yielded growth and expanded Cipla's reach across lower-tier towns in India.
"This investment will further strengthen our partnership with GoApptiv enabling wider patient reach with affordable and quality drugs and end-to-end brand marketing and channel engagement across tier 2-6 towns in India," said Umang Vohra, MD and Global CEO of Cipla.
"'Caring for Life' is at the heart of what we do and will guide us towards making such strategic investments to help make a difference in the lives of our patients," Vohra added.
GoApptiv is a digital technology company engaged in the business of offering digital solutions to pharmaceutical companies for increasing reach.
It offers end-to-end business solutions including distribution, digital solutions, integrated brand sales management, digital marketing, patient support and healthcare data analytics, and channel engagement to healthcare companies.
On Monday, the shares of the pharmaceutical company Cipla closed almost steady at Rs 933, data showed.