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The East African
Tuesday February 02 2021
Summary
Cipla is negotiating with the Pan-African Trade and Development Bank (TDB) to buy the $12 million Zambia debt.
When concluded, the credit-to-cash deal will give Cipla immediate cash flow, and cushion the company’s profits and the shareholder’s net worth from further erosion.
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Ugandan pharmaceutical firm Cipla Quality Chemicals shares have gone up 17.8 percent, to an average of Ush112 (0.030) per unit in the first three weeks of January, from Ush95 ($0.025) in July-August 2020.
Investment advisors attribute the rise of the share price to the drug maker’s remodelling of its business and planned discount of the Zambia debt.
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