Cipla, a leading pharmaceutical company, has announced its plans to further invest up to Rs 26 crore in Achira Labs through Optionally Convertible Preference Shares. This investment, divided into four tranches, is contingent upon the achievement of specific milestones.

Achira Labs specializes in the development and commercialization of point-of-care medical test kits in India, addressing critical healthcare needs. With this investment, Cipla aims to strengthen its support for Achira's innovative solutions in the medical diagnostics space.

Following the completion of the first tranche of investment, Cipla will hold approximately 27.27% of the total voting rights in Achira. This strategic move underscores Cipla's commitment to fostering innovation and expanding its footprint in the healthcare sector.

The investment signifies a significant step towards advancing healthcare accessibility and affordability, aligning with Cipla's mission of 'Caring for Life.' As the collaboration progresses, it is expected to drive innovation, enhance medical diagnostics capabilities, and ultimately, improve patient outcomes.