Cipla announced that Meditab Holdings, Mauritius, a wholly owned subsidiary of the company, has entered into a definitive agreement to sell its entire 48.22% equity interest in Jiangsu Cdymax Pharmaceuticals Co., China (Jiangsu) to an affiliate of one of the other shareholders of Jiangsu, for a total consideration of USD 18.5 million.

The closing of the transaction is subject to receipt of applicable regulatory approvals in China. Jiangsu Cdymax makes APIs, mostly anti-cancer and hormone drugs. .

Commenting on the same, Sarabjit Kour Nangra, vice president Research - Pharma, Angel Broking said, "The development will not have a significant impact on the company’s numbers. We maintain our neutral on the stock." 

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