Cipla Enters Joint Venture for Novel Cell Therapy Products in USA

Cipla Limited, a pharmaceutical company, has entered into a joint venture agreement with Kemwell Biopharma UK Limited and MNI Ventures, Mauritius to incorporate a joint venture company in the USA for commercializing novel cell therapy products. The joint venture entity will be incorporated in the state of Delaware, and the investment is expected to be completed within 60 days subject to successful completion of conditions precedent. The acquisition is related party transaction, and the promoters/promoter group/group companies have no interest in the JV entity.,