Cipla, with Plants in China and India, Goes After Biosimilar Market

Cipla, the Indian generic drugmaker, revealed it has invested $165 million to build facilities in China and India to produce biosimilars. The company is 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 disclosed. More details.... Stock Symbol: (BSE: 500087)     Share this with colleagues: