Cipla bags Rs 1,100 crore order from South African govt

Drug major Cipla's subsidiary has bagged an order worth 2 billion rand (around Rs 1,100 crore) for HIV drugs from the South African government.
Cipla Medpro, the South African subsidiary of the Indian firm, has bagged the order as part of the South African government's 2015-17 National ARV tender.
The contract is effective from April 1, 2015 and will run for a period of three years, Cipla Ltd said in a filing to the BSE.
"We are extremely proud to have won this tender which is not only testament to our high quality product portfolio, but is also in line with Cipla's ethos of advancing healthcare for all South Africans," Cipla Ltd MD and Global CEO Subhanu Saxena said.

Commenting on the development, Cipla Medpro CEO Paul Miller said Cipla is known as a pioneer of fixed dose combinations, following Yusuf Hamied's accomplishment of making AIDS medication available for a dollar a day in 2001.
"We intend to continue this proud tradition and build on the foundation laid to continue our quest of providing affordable healthcare to all," Miller added.

The medication will be produced at the company's 23,000 square meter manufacturing site in Kwazulu-Natal.
The latest government tender win is the third in the last one year for the company.
Cipla Medpro had earlier bagged a R280 million state therapeutic drug tender in August 2014 and a R345 million national respiratory tender in June 2014.

Cipla had completed the buyout of Cipla Medpro last year in July for an aggregate consideration of Rs 2,707 crore.
Cipla shares closed 1.82 per cent up at Rs 629.65 apiece on the BSE.