Blackstone’s potential takeover of Cipla has caused concerns among many, including Senior Congress leader Jairam Ramesh. Ramesh expressed his sorrow over the “impending takeover” by Blackstone, the world’s largest private equity fund. Established in 1935 by Khwaja Abdul Hamied, Cipla has played a vital role in India’s journey towards independence. The news of the potential takeover has positively impacted the market, with a 15 percent increase in the company’s shares since the initial reports. The potential acquisition by Blackstone raises concerns about the future direction of Cipla and its impact on the Indian pharmaceutical sector.

Source: Economic Times August 05, 2023 19:54 UTC