Cipla, one of India's top five drugmakers, will sell its 25% stake in Biomab Holding to its parter, Biomab Brilliant Ltd., for $26 million. After the transaction, Biomab Brilliant will own 100% of the biosimilar company, which is headquartered in Hong Kong, though its operations are in Shanghai. Cipla invested $25 million in Biomab in 2010. Now, Cipla will focus on its own biologics operations in India.
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