"Cipla founding family’s stake sale in jeopardy over $13 billion valuation target"

"Cipla founding family’s stake sale in jeopardy over $13 billion valuation target"

• By Staff Writer

"Prospective buyers of a stake in Indian pharmaceutical company Cipla Ltd. are hesitant due to the high valuation demanded by the founding family. Negotiations have stalled as the family is seeking about 1,350 rupees per share, representing a 10% premium over the current price. The family controls around 33% of Cipla's shares, worth nearly $4 billion. While no final decision has been made, the family may revise the asking price or decide against the sale. Cipla's sales have been bolstered by Covid-19 treatments, including the license to produce remdesivir."