Active Stocks
Mon Mar 04 2024 15:59:52
  1. Tata Steel share price
  2. 153.10 -1.32%
  1. NTPC share price
  2. 353.80 3.50%
  1. Bharti Airtel share price
  2. 1,137.00 0.57%
  1. Larsen & Toubro share price
  2. 3,643.95 -0.28%
  1. Power Grid Corporation Of India share price
  2. 294.45 2.63%
Business News/ Companies / News/  Cipla hikes stake in digital tech company GoApptiv
BackBack

Cipla hikes stake in digital tech company GoApptiv

This will be Cipla’s third investment in GoApptiv which will be channeled through a mix of equity and compulsorily convertible preference shares.

This development will further expand Cipla’s presence across the healthcare continuum, especially to the underserved population (REUTERS)Premium
This development will further expand Cipla’s presence across the healthcare continuum, especially to the underserved population (REUTERS)

New Delhi: Pharmaceutical major Cipla Ltd has invested 42 crore in GoApptiv, increasing its stake in the digital tech company to 22.99% on a diluted basis.

“In line with Cipla’s ambition to strengthen investments in channels of the future, this development will further expand Cipla’s presence across the healthcare continuum, especially to the underserved population by enabling greater access to lifesaving treatments," the drug manufacturer said in a statement on Thursday. 

This will be Cipla’s third investment in GoApptiv which will be channeled through a mix of equity and compulsorily convertible preference shares.

Following Cipla's initial investments in GoApptiv in 2020 and 2022, the digital tech firm has seen substantial growth in both its reach and product range in less-explored areas, the company claimed.

"In this era of technology-driven healthcare, this expanded investment will help us deliver patient-centric solutions and further strengthen our digitisation agenda to drive Cipla’s next phase of growth," said Umang Vohra, managing director of Cipla Ltd.

GoApptiv is a digital tech company engaged in the business of offering digital solutions to pharmaceutical companies to increase their patient reach. It offers them end-to-end business solutions including distribution, digital solutions, integrated brand sales management, digital marketing, patient support and healthcare data analytics, channel engagement etc.

Thursday, shares of Cipla ended at 1204.55, down 1% from their previous close on the BSE.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 15 Dec 2023, 08:37 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie