Cipla to buy Actor Pharma

New Delhi: Drug major Cipla on Monday said its unit has inked a pact to acquire South Africa-based Actor Pharma. Cipla South Africa, a wholly-owned subsidiary of the Mumbai-based drug major, has inked a binding term sheet with Actor Holdings (Pty) Ltd to acquire 100 per cent of the issued ordinary shares of Actor Pharma, the drug major said in a regulatory filing. This development underpins Cipla’s commitment and investment in its over-the-counter (OTC) business and supports its journey to be a leading healthcare player in South Africa, he added.

This is a strategic acquisition for Cipla South Africa to unlock future growth opportunities and leverage cost synergies in the South African market, the drug major said. The company, however, did not share the financial details of the deal. Actor was founded in 2009 and has quickly grown to become the fifth largest privately owned OTC player in the South African market. Actor specialises in OTC and generic medicine, where they have established strong consumer brands and identified niche prescription markets in categories of women’s health, nasal, cough and cold and baby and child.