Cipla to acquire 21 per cent stake in Achira Labs for Rs 25 crores

Cipla recently said it will acquire 21.05 per cent stake for Rs 25 crores in Achira Labs, which is engaged in development and commercialisation of Point of Care (PoC) medical test kits in India. The company has signed definitive agreements with Achira Labs for the purpose, Cipla said in a regulatory filing.

“This investment will facilitate a Cipla entity’s strategic participation in the PoC diagnostics and antimicrobial resistance (AMR) space through the design, development and manufacturing of microfluidics-based technologies,” it said.

Achin Gupta, CEO, One India Business, Cipla, said, “This investment will further our commitment of bringing innovative, affordable and quality diagnostic solutions for all. We are guided by our purpose of Caring for Life and will continue to make strategic investments to ensure access to Point of Care test kit solutions.”

A PoC that enables rapid identification of the bug causing an infection would be extremely helpful in choosing the appropriate antibiotic early in the treatment process. Cipla said the transaction is expected to be completed within 60 days from “the signing of definitive agreements or such other date mutually agreed between the parties and will be subject to conditions precedent set out in the definitive agreements.”

Bengaluru-based Achira is a medical diagnostics company and develops medical diagnostic products using microfluidic technology with an aim to bring sophisticated medical tests closer to the point of diagnosis, treatment and management.