Cipla shoots South Africa's Cipla Medpro a better offer

India's Cipla and its South African namesake Cipla Medpro may share a moniker but they haven't seen eye-to-eye on what it will take to share ownership. So Cipla is back with a better offer: It now says it will pay $500 million for 51% control of Cipla Medpro. That is significantly higher than the $215 million opening bid it made in November and about 17% higher than its last offer, the Economic Times reports. The Indian generics maker already supplies most of the drugs that Cipla Medpro sells, but the two have never had any common ownership. Cipla Medpro, is the third-largest drugmaker in South Africa, a rapidly growing market. Story | More