Cipla, leading drug maker, announced that Cipla Europe NV, a subsidiary company has signed a distribution agreement with Serum Institute of India (SII), a global leader in the production of vaccines. Under the agreement, SII will develop and manufacture paediatric vaccines; Cipla will seek European medicines agency approval and market the products in Europe.

This collaboration with SII enables Cipla to enter into the vaccines segment, continuing our commitment to inclusive healthcare for the world. The vaccines will be manufactured in Serum's world class production facilities approved by WHO.

Commenting on the collaboration, Subhanu Saxena, MD & global CEO, Cipla said, ''We are proud to have entered into a strategic Europe-specific partnership with Serum Institute of India. This collaboration is aligned with our commitment to access to affordable paediatric healthcare. Both Cipla and SII share the same core values such as self-sufficiency, affordability, accessibility, quality and commitment to global health. Though this partnership, we look forward to contribute in eradication of childhood diseases.''

Shares of the company gained Rs 7.75, or 1.29%, to trade at Rs 607. The total volume of shares traded was 70,832 at the BSE (11.31 a.m., Thursday).