Cipla to purchase 21.05 percent stake in Achira Labs to develop affordable medical kits in India

Mumbai: Cipla Limited has announced that the company has signed definitive agreements for
acquisition of 21.05% stake (on a fully diluted basis) for an amount of INR 25 crores
(approx.) in Achira Labs Private Limited engaged in
development and commercialization of point of care (PoC) medical test kits in India.

This investment will facilitate a Cipla entity’s strategic participation in the Poe diagnostics
and AMR space through the design, development, and manufacturing of microfluidics-based technologies. A Poe that enables rapid identification of the bug causing an
infection would be extremely helpful in choosing the appropriate antibiotic early in the
treatment process.

Achira is developing POC immunoassays and molecular assays
across the clinical areas of infectious diseases, anti-microbial resistance (AMR) and
hormone analysis among others.

Commenting on the development, Mr. Achin Gupta, CEO, One India Business, Cipla said,
“This investment will further our commitment of bringing innovative, affordable and
quality diagnostic solutions for all. We are guided by our purpose of Caring for Life and
will continue to make strategic investments to ensure access to point of care test kit
solutions.”

The transaction is expected to be complete within 60 days from the signing of definitive
agreements or such other date mutually agreed between the parties and will be subject
to conditions precedent set out in the definitive agreements.

Achira is an ISO 13485 compliant medical diagnostics company incorporated in
Bengaluru, India, that develops medical diagnostic products using microfluidic
technology.

Read also: Cipla, DNDi unveil 4-in-1 ARV formulation for kids with HIV

Cipla Limited is an Indian multinational pharmaceutical and biotechnology company, headquartered in Mumbai, India. The Company was founded by Khwaja Abdul Hamied in 1935 in Mumbai.

Cipla primarily develops medicines to treat respiratory, cardiovascular disease, arthritis, diabetes, weight control, depression, and other medical conditions.

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