MUMBAI (Reuters) - Cipla Ltd(CIPL.NS) said it has agreed to market paediatric vaccines made by Serum Institute of India Ltd in Europe, in a move that marks India’s fourth-largest drugmaker’s entry into the vaccines space.
Financial details of the deal with Serum Institute, one of India’s largest makers of vaccines, were not disclosed.
Cipla, which exports to over 170 countries, is working on expanding its presence in Europe, a region that contributed 5.7 percent to the company’s total revenue in the year to March 2013.
As part of this strategy, Cipla has launched multiple respiratory products in Europe this year, and launch of some key inhalers is expected in 2015.
“We see vaccines as one of the critical components of our offering to European patients,” Cipla’s Europe business head Frank Pieters said in a statement.
Reporting by Zeba Siddiqui in Mumbai; Editing by Sunil Nair