Pharma Update for Today

Cipla said its UK subsidiary has sold its entire stake in Chase Pharmaceuticals Corporation, a Delaware-based corporation, to a subsidiary of Allergan plc. Cipla UK arm, Cipla (EU) had 16.7 percent stake in Chase Pharmaceuticals, which was acquired in May 2014 via a syndicated venture investment. "Allergan has agreed to pay USD 125 million upfront plus potential regulatory and commercial milestones of up to USD 875 million to the shareholders of Chase," the healthcare firm said in its filing.
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