Cipla divests 16.7 per cent stake in Chase Pharma to Allergan

Cipla divests 16.7 per cent stake in Chase Pharma to Allergan

Drug major CiplaBSE 0.45 % today said Chase Pharmaceuticals Corporation, in which it has 16.7 per cent stake has been acquired by Ireland-headquartered Allergan plc.

Delaware-based Chase Pharmaceuticals Corporation, in which the company’s UK arm Cipla (EU) Ltd has 16.7 per cent stake, has been acquired by a subsidiary of Allergan plc, Cipla said in a statement.

“Allergan has agreed to pay $125 million upfront plus potential regulatory and commercial milestones of up to  ..