Cipla is increasing its stake in its consumer health business to 100 per cent and is looking for tie ups with e-pharmacies for sales growth in the domestic market. On Wednesday the company announced it is acquiring a 26 per cent stake held by private equity firm Eight Roads Investments Mauritius Limited for Rs 350 crore to assume full control of Cipla Health.
The drug maker had set up a separate company with private equity investment in FY2016 to tap the fast growing over the counter medicine portfolio. The business includes well known brands like nicotine replacement therapy gum