29 Jul 2022 , 01:33 AM
Cipla announced that lnvaGen Pharmaceuticals Inc wholly owned step-down subsidiary of the Company in USA has entered into a Share Repurchase Agreement on 25 July 2022 with Avenue Therapeutics Inc Avenue and Fortress Biotech Inc for sale of 5833333 shares representing 2593Percentage of equity stake on a fully diluted basis held in Avenue for a consideration of USD 3 million and an additional amount upto USD 4 million on satisfaction of certain conditions On completion of the repurchase Avenue shall cease to be an associate of the Company
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