Pharmaceutical giant Cipla has approved the transfer of its Generics Business Undertaking to wholly-owned subsidiary Cipla Pharma and Life Sciences Limited (CPLS) for Rs 350 crores. Accounting for 9.95% of Cipla’s turnover and 0.92% of its net worth in the fiscal year ending March 31, 2023, this move aligns with Cipla’s strategy to tap into the burgeoning generic pharmaceutical market. The transfer, effective December 31, 2023, aims to enhance focused decision-making, drive new launches, and expand the company’s reach in Tier 2-6 towns and cities, ultimately improving patient access to quality generic medicines. Regulatory approval is pending.