Cipla : signs agreement for acquisition of 21.05% stake in Achira Labs to develop affordable, innovative medical kits in India

Cipla signs agreement for acquisition of 21.05% stake in Achira Labs

to develop affordable, innovative medical kits in India

Mumbai, India; June 17, 2022: Cipla Limited (BSE: 500087; NSE: CIPLA EQ; and hereafter referred to as "Cipla") announced today that it has signed definitive agreements for acquisition of 21.05% stake (on a fully diluted basis) for an amount of INR 25 crores (approx.) in Achira Labs Private Limited (hereafter referred to as "Achira") engaged in development and commercialization of point of care (PoC) medical test kits in India.

This investment will facilitate a Cipla entity's strategic participation in the PoC diagnostics and AMR space through the design, development, and manufacturing of microfluidics- based technologies. A PoC that enables rapid identification of the bug causing an infection would be extremely helpful in choosing the appropriate antibiotic early in the treatment process. Achira is developing POC immunoassays and molecular assays across the clinical areas of infectious diseases, anti-microbial resistance (AMR) and hormone analysis among others.

Commenting on the development, Mr. Achin Gupta, CEO, One India Business, Cipla said, "This investment will further our commitment of bringing innovative, affordable and quality diagnostic solutions for all. We are guided by our purpose of Caring for Life and will continue to make strategic investments to ensure access to point of care test solutions."

The transaction is expected to be complete within 60 days from the signing of definitive agreements or such other date mutually agreed between the parties and will be subject to conditions precedent set out in the definitive agreements.

Achira is an ISO 13485 compliant medical diagnostics company incorporated in Bengaluru, India, that develops medical diagnostic products using microfluidic technology. Achira aims to bring sophisticated medical tests closer to the point of diagnosis, treatment and management through its innovative solutions and cutting-edge research, by leveraging its state-of-the-art capabilities, strong collaborations, and deep expertise.

About Cipla:

Established in 1935, Cipla is a global pharmaceutical company focused on agile and sustainable growth, complex generics, and deepening portfolio in our home markets of India, South Africa, North America, and key regulated and emerging markets. Our strengths in the respiratory, anti-retroviral, urology, cardiology, anti-infective and CNS segments are well-known. Our 47 manufacturing sites around the world produce 50+ dosage forms and 1,500+ products using cutting-edge technology platforms to cater to our 80+ markets. Cipla is ranked 3rd largest in pharma in India (IQVIA MAT May'22), 3rd largest in the pharma private market in South Africa (IQVIA MAT May'22), and is among the most dispensed generic players in the U.S. For over eight decades, making a

difference to patients has inspired every aspect of Cipla's work. Our paradigm-changing offer of a triple anti-retroviral therapy in HIV/AIDS at less than a dollar a day in Africa in 2001 is widely acknowledged as having contributed to bringing inclusiveness, accessibility and affordability to the centre of the HIV movement. A responsible corporate citizen, Cipla's humanitarian approach to healthcare in pursuit of its purpose of 'Caring forLife' and deep-rooted community links wherever it is present make it a partner of choice to global health bodies, peers and all stakeholders. For more, please visit www.cipla.com, or click on Twitter,Facebook,LinkedIn.

For Further Information, please contact:

CIPLA:
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