Cipla Medpro collaborates with Teva Pharma; stock gains

MUMBAI: Cipla Medpro has entered into collaboration with Teva Pharmaceuticals for South African market.

The collaboration is a sales and distribution arrangement whereby Cipla Medpro will exclusively sell Teva’s broad pharmaceutical product portfolio in South Africa.

Shares of Cipla reacted positively and were up 2.06 per cent on the BSE. The stock rallied 3.3 per cent to touch intraday high of Rs 604.85 in trade today.

“Cipla believes that the collaboration with Teva reaffirms its commitment to advancing healthcare for all South African,” said Subhanu Saxena, Managing Director and Global Chief Executive Officer, Cipla.