Fidelity invests in Cipla’s consumer healthcare business

MUMBAI: Private equity investors Fidelity Growth Partners India and US-based Fidelity Biosciences have invested an undisclosed sum in Indian drug maker Cipla’s newly floated consumer healthcare business, the companies said in a joint press statement released on Tuesday.

"Using our combined knowledge and resources, we intend to provide OTC products that will bring significant benefits to the consumer," said Raj Dugar, senior managing director at Fidelity Growth Partners India.

Samina Vaziralli, executive director of Cipla, said, "Partnering with a long-term strategic and financial investor like Fidelity Growth Partners on this journey will help us create a best-in-class consumer healthcare business." Vaziralli, niece of Cipla chairman YK Hamied, incubated the consumer healthcare business at Cipla New Ventures.