Cipla's subsidiary Cipla Holding B.V., has entered into an agreement to sell its 100% equity stake in Cipla Croatia d.o.o., Croatia to PharmaS d.o.o., Croatia in order to align with company's strategy to operate via a B2B model in Europe. The transaction is expected to be closed within 45 days from Effective Date i.e. November 30, 2017.

Cipla is a global pharmaceutical company which uses cutting edge technology and innovation to meet the everyday needs of all patients. The company’s portfolio includes over 1500 products across wide range of therapeutic categories with one quality standard globally.

Shares of the company declined Rs 1.85, or 0.31%, to trade at Rs 598.50. The total volume of shares traded was 13,967 at the BSE (10.12 a.m., Friday).