Cipla Limited has informed the Exchange about entering into a venture agreement with Kemwell Biopharma Private Limited ( Kemwell ) for incorporation of a joint venture company in India.
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Cipla has signed a 60:40 joint venture agreement with Kemwell Biopharma Private Limited to set up a new company in India focused on biologics. The new JV will develop, manufacture, commercialise, import, and export biologic products including biosimilars for global markets. Kemwell is an Asia-based biologics CDMO with a US FDA-certified Bangalore facility featuring 5,000 L bioreactor capacity and sterile fill-finish capabilities. The initial investment is capped at INR 10 crores, with Cipla subscribing to 6,000 shares of INR 10 each at par at incorporation. The transaction is cash-based and is not a related-party deal.
This is a strategic, low-cost entry for Cipla into the high-growth biologics and biosimilars space, leveraging Kemwell's CDMO capabilities. While the initial capital outlay is small, the long-term potential to expand into global biologic markets could be positive for shareholders if the JV scales successfully.