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Cipla enters biologics joint venture with Kemwell, expands presence in Middle EastBiologics venture to see initial investment of up to ₹10 crore; Cipla (EU) forms Cipla Middle East Company in Saudi ArabiaBy Navneet Singh  March 2, 2026, 10:29:31 PM IST (Published)2 Min Read

Cipla Limited entered a 60:40 joint venture agreement with Kemwell Biopharma Private Limited on March 2, 2026, to incorporate a joint venture company in India.

The proposed JV will focus on developing, applying for and obtaining licenses for, manufacturing, commercialising, importing, and exporting biologic products, as well as licensing or outsourcing any of these activities.

Kemwell is an Asia-based biologics CDMO offering end-to-end services to global biopharma clients.

The joint venture partners will initially invest up to ₹10 crore in the JV company, according to their respective shareholding ratios.

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In a separate development, Cipla Limited said that its wholly owned UK subsidiary, Cipla (EU) Limited, has incorporated a new wholly owned subsidiary, ‘Cipla Middle East Company,’ in the Kingdom of Saudi Arabia, effective March 1, 2026. The incorporation was confirmed on March 2, 2026.

In Q3 FY26, Cipla’s net profit fell 57% year-on-year to ₹675.8 crore from ₹1,570.5 crore, impacted by a one-time cost of ₹276 crore during the quarter.

Revenue for the quarter remained largely flat at ₹7,075 crore versus ₹7,073 crore last year, below a CNBC-TV18 poll projection of ₹7,557 crore.

EBITDA for the quarter stood at ₹1,255 crore, down 36.7% from ₹1,989 crore a year ago, and below the CNBC-TV18 estimate of ₹1,696 crore.

Shares of Cipla closed at ₹1,351, up ₹2.80 (0.21%) on the NSE on March 2, Monday.

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