Cipla liquidates wholly-owned unit as part of internal reorganisation

The drug maker said that its wholly owned subsidiary, Cipla (UK), has been voluntarily liquidated with effect from Friday, 5 March 2021.

Cipla added that this liquidation was a part of internal reorganisation and it will not impact the performance or the revenue of the company. The announcement was made on Saturday, 6 March 2021.

On a consolidated basis, the drug major's net profit surged 112.8% to Rs 752.51 crore on 21.7% rise in net sales to Rs 5,154.17 crore in Q3 FY21 over Q3 FY20.

Shares of Cipla added 1.12% to Rs 814.45 on BSE. Cipla is a global pharmaceutical company focused on complex generics, and deepening its portfolio in the markets of India, South Africa, North America, and key regulated and emerging markets.

 

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