“This development underpins Cipla’s commitment and investment in its over the counter (OTC) business and supports its journey to be a leading healthcare player in South Africa,” Cipla said in the filing.

The transaction is expected to close in the next three to four months, subject to the negotiation and signing of the definitive transaction agreements (which are expected to be concluded imminently) as well as receiving regulatory approval from South Africa’s Competition Commission. The company, however, didn’t reveal the financial transaction involved in the deal.

Formed in 2009, Actor has quickly grown to become the 5th largest, privately owned, OTC player in the South African private market. It specialises in OTC and generic medicine and has established strong consumer brands, and identified niche prescription markets in categories of women’s health, nasal, cough & cold and baby & child. In addition, the company has an exciting and innovative pipeline and in its last financial year (FY23) delivered revenue of 234 million South African rand, on the back of strong double-digit growth.

Umang Vohra, Global MD & CEO, Cipla said, “This is in line with our strategy of strengthening our OTC and wellness portfolio. We believe this is an excellent opportunity to leverage our existing marketing capabilities, unlock future growth opportunities and optimise the performance of our pipeline.”