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In a significant development in the treatment of AIDS patients, Indian pharmaceutical major Cipla has been awarded $188.95 million (around Rs. 1,172 crore) by Global Fund ARV (anti-retroviral) tender.
A statement from Cipla said it had been selected as a ‘Panel Supplier’ for a supplier partnership agreement. The contract is effective from January 1, 2015 and will run for a period of three years. The supplies are to commence from the fourth calendar of the current year.
“Cipla has been committed to the cause of HIV/AIDS for over two decades and this tender offers us a great opportunity to make HIV/AIDS treatment accessible to more than 140 countries through Global Fund,” Subhanu Saxena, MD & Global CEO, Cipla said in a statement.
The ARVs will be made at Cipla’s manufacturing facilities in India. Cipla has played a pioneering role in supplying cheaper HIV/AIDS treatment and was the first to offer these drugs at a fraction of the cost in 2001 in Africa. It offered a triple combination ARV at less than a dollar a day and has treated several million patients since then.
Created in 2002, the Global Fund operates as a partnership between governments, civil society, private sector and people affected by diseases such as AIDS, tuberculosis and malaria. It raises and invests nearly $4 billion annually to support programs in more than 140 countries.
Cipla has been associated with Global Fund since 2002, having been one of the suppliers awarded with a long-term contract to supply anti-malarial drugs.
In a separate development, Cipla along with its existing partner, Biopharm SPA is establishing a joint venture in Algeria to make and market respiratory products. A statement said as per the term sheet, Cipla’s fully owned subsidiary, Cipla (EU) will hold 40 per cent stake with the rest held by Biopharm-led Algerian consortium. The JV will invest up to $15 million in a facility with Cipla’s initial investment being around $6 million.
Earlier on Thursday, Cipla said it had entered a definitive agreement to buy 60 per cent stake in Mumbai-based Jay Precision Pharmaceuticals for Rs. 96 crore. Jay already supplies respiratory devices to Cipla with a facility in Vasai, Maharashtra.
“Considering the company’s leading position in inhalation therapy, this transaction is aimed at integrating the value chain and will serve as a platform for development of next generation respiratory devices,” a statement from Cipla said.
Source : thehindu.com
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