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Cipla inches up as its arm inks definitive agreements to acquire Endura Mass

Cipla is currently trading at Rs. 953.60, up by 2.75 points or 0.29% from its previous closing of Rs. 950.85 on the BSE.

The scrip opened at Rs. 967.40 and has touched a high and low of Rs. 967.40 and Rs. 951.90 respectively. So far 2545 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 1083.15 on 15-Mar-2022 and a 52 week low of Rs. 850.00 on 17-Dec-2021.

Cipla
Cipla

Last one week high and low of the scrip stood at Rs. 968.35 and Rs. 926.85 respectively. The current market cap of the company is Rs. 76732.88 crore.

The promoters holding in the company stood at 33.61%, while Institutions and Non-Institutions held 48.98% and 17.40% respectively.

Cipla’s wholly owned subsidiary and consumer healthcare arm — Cipla Health (CHL) has signed definitive agreements for acquisition of Endura Mass, a renowned nutritional supplement brand in the category of weight gain from Medinnbelle Herbalcare. Endura and all other associated trademarks would be part of the acquisition.

This acquisition is in line with Cipla’s strategic imperative to augment the company’s wellness portfolio for bringing about a shift from an illness to a wellness mindset.

As per the signed definitive agreements, acquisition is subject to completion of certain closing conditions. CHL shall immediately initiate the distribution and marketing of the said products pending the closure of the proposed acquisition.

As per the Lancet Journal (Study from 1975 – 2014), India has approximately 20 crore adult (male & female) population who are underweight.

Endura Mass has a legacy of over 20 years in providing solutions for consumers actively looking to gain weight. It has a range of proven, efficacious, and safe range of weight gainers that help to gain weight in a healthy way.

Cipla is a global pharmaceutical company which uses cutting edge technology and innovation to meet the everyday needs of all patients.


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