Cipla to acquire South Africa’s Actor Holdings

Actor Pharma, a privately held provider of generic drugs and consumer health products, will be purchased by Cipla in an effort to increase its presence in the South African market. The transaction will cost ZAR900 million, which is equal to $48.6 million.

According to the business, the deal was carried out by Cipla's wholly owned subsidiary in South Africa, which entered into a legally binding term sheet with Actor Holdings to purchase all of the issued ordinary shares of Actor Pharma.

This "strategic acquisition," according to the business, will "leverage cost synergies in the South African market." Cipla anticipates a rise in its over-the-counter revenue as a result of Actor Pharma's focus on the consumer-driven market and pipeline of future products.

"This is in line with our strategy of strengthening our OTC and wellness portfolio. We believe this is an excellent opportunity to leverage our existing marketing capabilities, unlock future growth opportunities and optimize the performance of our pipeline" said Umang Vohra, Global MD & CEO, Cipla Limited.

The acquisition is expected to be signed within 14 days and the transaction is likely to be completed within 4 months.

Source: Media Reports