Cipla Medpro South Africa has announced its plans to acquire
a 100% stake in local over-the-counter (OTC) pharmaceutical manufacturer and
distributor, Mirren. The transaction is subject to approval by the Competition
Commission of South Africa.
Paul Miller, CEO of Cipla South Africa, said that once
approved, the transaction will enhance Cipla’s current OTC portfolio, by adding
Mirren’s well-established brands such as Broncol cough syrup, Coryx, Tensopyn,
and Ultimag. This deal will also increase Cipla’s local manufacturing
Lynton Lomas, director of Mirren, said: “The acquisition by Cipla will help
ensure that the continued growth that the Mirren brands have achieved over the
past three years will be sustained. The wellbeing of Mirren’s dedicated staff
was one of the biggest deciding factors during this process.”
Mirren has been in operation for 35 years.
“We foresee that this transaction will aid Cipla greatly in future by further
improving the range of quality medication that we are able to offer South
Africans. Furthermore, Cipla aims to take full leverage of this proposed
transaction to deliver on its ethos of ‘Caring for Life’, by providing quality,
affordable medical products,” said Miller.
Issued by Cipla