Singapore: Given the recent preference to local manufacturing, this secures the company's presence in a fast growing market.

Cipla already has a leading position in Yemen with over 200 products according to a press statement.

The company will pay $21 million for this transaction, with additional considerations to be paid over the next 3 years on achievement of agreed milestones.

According to Cipla, closing of the transaction is subject to completion of certain conditions precedent.