Cipla, the Indian generic drugmaker, revealed it has invested $165 million to build facilities in China and India to produce biosimilars.
Cipla Limited is an Indian pharmaceutical company, best-known outside India for manufacturing low-cost AIDS drugs for HIV-positive patients in developing countries. Founded by an Indian scientist Khwaja Abdul Hamied as The Chemical, Industrial & Pharmaceutical Laboratories in 1935, Cipla makes drugs to treat cardiovascular disease, arthritis, diabetes, weight control, depression and many other health conditions, and its products are distributed in more than 180 countries worldwide2.
The company is now working on developing copies of at least a dozen biotech drugs with a goal of charging only one-third their current price. Last year, Cipla paid $25 million to buy a 25% stake in BioMab, a Shanghai maker of biotech drugs. Cipla and BioMab both contributed to the $165 million investment, though details were not disclosed1.
Additionally, the company has also acquired a 40% stake in Indian biotech company MabPharm last year. The biotech firm is setting up a state-of-the-art facility for biosimilar products in Goa. Cipla now has rights to market all biosimilar products of the company in India and in the international markets.
1. China Bio Today