Cipla Limited has entered into a 60:40 joint venture agreement with Kemwell Biopharma Private Limited on March 2, 2026, for the incorporation of a new joint venture company in India. The agreement was executed in line with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The proposed joint venture company will focus on developing, applying for and obtaining licenses for, manufacturing, commercialising, importing, and exporting biologic products. The scope of operations will also include licensing or outsourcing of related activities. The move marks a structured step toward expanding biologics capabilities for global markets.
Kemwell Biopharma is an Asia-based biologics contract development and manufacturing organisation (CDMO) that provides end-to-end services to global biopharma clients. Its Bengaluru-based cGMP manufacturing facility is certified by the US FDA and houses 5,000-litre bioreactor capacity, sterile fill–finish infrastructure, and advanced development laboratories for protein therapeutics. The company supports commercial manufacturing as well as research, development, and clinical programs for novel biologics and biosimilars.
As per the disclosure, the joint venture company is yet to be incorporated. Therefore, details such as turnover and date of incorporation are currently not applicable. The industry classification of the proposed entity falls under the pharmaceutical sector, with a clear focus on biologics development and manufacturing.
The joint venture will be structured in a 60:40 ratio between Cipla and Kemwell. The initial investment by both partners will be up to INR 10 crore in their respective shareholding ratio. At the time of incorporation, Cipla will subscribe to 6,000 equity shares of INR 10 each at par value, amounting to INR 60,000. The consideration for the transaction will be in cash.
The disclosure clarifies that this is not a related party transaction and that the joint venture is being formed to develop, manufacture, and commercialise biologics for global markets. No specific governmental or regulatory approvals are required for the incorporation at this stage, and the indicative timeline for completion has not been specified as the entity is yet to be formed.