Cipla Ltd. has made an offer to buy South African pharmaceutical company Medpro for $512 million.
Medpro provides cardiovascular, antiretroviral, respiratory and neuropsychiatric medications. The company has distribution centers in Cape Town, Durbanville and Atlas Gardens.
Cipla is an Indian pharmaceutical company that serves doctors and patients in more than 170 countries. The company expects to strengthen Medpro’s position in the South African pharmaceutical market through the deal.
Morgan Stanley is Cipla’s financial adviser, and Webber Wentzel is legal counsel to Cipla on the deal.