MARKET EYE-Cipla gains on partner's contract win

Fri Nov 30, 2012 10:45am IST

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* Shares in drugmaker Cipla rise 1.4 percent after
Cipla Medpro won a share in South Africa's $667 million
contract, as it supplies the bulk of Cipla Medpro's drugs.
* Dealers say the company may garner revenues of $30-40 million
from Cipla Medpro's contract.
* South Africa on Thursday awarded a $667 million contract to
supply life-prolonging HIV medicine to 12 international and
domestic firms, including Cipla Medpro, to deal with its biggest
health problem. 
* Cipla also plans to offer $215 million for a majority stake in
South Africa's Cipla Medpro to strengthen its presence in
Africa's fast-growing market for cheap, generic versions of
branded drugs. 

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.reuters.com@reuters.net)
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