Cipla Forms Biologics Joint Venture with Kemwell, Expands Middle East Presence

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Cipla Forms Biologics JV with Kemwell, Expands to Middle East

Cipla Forms Biologics JV with Kemwell, Expands to Middle East

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CNBC TV18•02-03-2026, 22:29

Cipla Forms Biologics JV with Kemwell, Expands to Middle East

•Cipla Limited entered a 60:40 joint venture with Kemwell Biopharma Private Limited on March 2, 2026, to develop and commercialize biologic products.
•The JV will focus on developing, manufacturing, and exporting biologic products, with an initial investment of up to ₹10 crore.
•Cipla's UK subsidiary, Cipla (EU) Limited, incorporated a new wholly owned subsidiary, 'Cipla Middle East Company,' in Saudi Arabia on March 1, 2026.
•In Q3 FY26, Cipla's net profit fell 57% year-on-year to ₹675.8 crore due to a one-time cost of ₹276 crore.
•Revenue for Q3 FY26 remained flat at ₹7,075 crore, and EBITDA decreased by 36.7% to ₹1,255 crore.

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