Cipla said the acquisition of Mirren, which specialises in over the counter (OTC) pharmaceutical products, will strengthen its market position and help it to accelerate growth within OTC space.
The transaction required approval by the South African Competition Commission and is expected to be completed before September 30, 2018, Cipla said.
"Cash consideration of South African Rand 450 million to be paid on closing of transaction," the company said.
Shares of Cipla were trading 1.10 per cent higher at Rs 631.60 on BSE.
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