Ciplas wholly owned subsidiary -- Cipla (EU) has entered into a definitive agreement on September 25, 2024 for purchase of entire 6.9124% equity interest of Jiangsu Xidi Pharmaceuticals (formerly known as Jiangsu Acebright Pharmaceuticals) held in Cipla (Jiangsu) Pharmaceuticals, China (Cipla Jiangsu), subsidiary. Upon completion of the transaction, Cipla Jiangsu will become a wholly owned step-down subsidiary of the Company.

Cipla Jiangsu was incorporated in China on August 8, 2019 as a joint venture between Cipla (EU) and Jiangsu XiDi Pharmaceuticals (Xidi), for the purpose of manufacturing, selling and distribution of pharmaceutical products, research and development services and analytical development services. Cipla Jiangsu has set-up a manufacturing facility in China, primarily focused on inhalation respules products. Currently, Cipla EU and Xidi holds 93.0876% and 6.9124% equity interest respectively in Cipla Jiangsu.

The said transaction is being carried out in terms of the existing joint venture contract between the parties and will provide Cipla EU with full control and ownership of Cipla Jiangsu. The transaction is expected to be completed on or before November 15, 2024 or such other date as maybe mutually agreed between the parties and shall be subject to successful completion/ waiver of conditions as mentioned in such definitive agreements and receipt of regulatory approvals.

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