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News Details

( As on 13/01/2022 10:40)

Cipla announces termination of stock purchase and merger agreement with Avenue Therapeutics

Cipla announced that the stock purchase and merger agreement entered between InvaGen Pharmaceuticals Inc. (InvaGen), USA, wholly owned step down subsidiary of the Company, and Avenue Therapeutics Inc (Avenue) has been terminated with effect from 1 November 2021.

However, the 'Stockholders Agreement' dated 12 November 2018 between InvaGen, Avenue and other stockholders remains in force; and InvaGen will continue to hold shares in Avenue.