Indian drugmaker Cipla’s UK subsidiary has signed a joint venture (JV) agreement with existing Moroccan partners, including Societe Marocaine De Cooperation Pharmaceutique (Cooper Pharma) and The Pharmaceutical Institute (PHI) to boost its footprint in the country.

Under the deal, Cipla (EU) will hold 60% interest in the JV, while Cooper Pharma and PHI jointly will own the remaining 40% stake.

Cipla global CEO and managing director Subhanu Saxena said: "This JV is aimed to strengthen Cipla’s presence in Morocco, which is in-line with our global growth strategy to build front-end presence in key markets.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
"This JV is aimed to strengthen Cipla’s presence in Morocco, which is in-line with our global growth strategy to build front-end presence in key markets."

"Cipla has enjoyed a long-standing business relationship with Cooper Pharma and PHI for over a decade and this JV will further strengthen Cipla’s relationship."

The new JV will allow Cipla to expand its operations in the pharmaceutical market of Morocco, in addition to enhancing the commercial strengths of partners.

See Also:

Initially, the JV will concentrate on respiratory and neurology products, as well as invest to set-up a manufacturing facility in the country.

Cipla (EU) will invest up to $15m in cash in the JV, as per the agreement.

According to Cipla, the deal is subject to conditions precedent and applicable regulatory approvals.

Cooper Pharma and PHI are involved in pharmaceutical manufacturing, import, promotion and distribution activities, in Morocco.

With a portfolio of 1,500 products in various therapeutic categories, Cipla carries out operations in around 150 countries.