Cipla has also formed a 60:40 JV in Algeria with existing partner Biopharm. Cipla Limited has signed a definitive agreement to acquire 60 per cent stake of Mumbai-based Jay Precision Pharmaceuticals Pvt Ltd (Jay Precision), from the existing shareholders for Rs 96 crore ($15.4 million) as per a stock market disclosure. Jay Precision is an existing supplier of respiratory devices to Cipla and has a manufacturing facility at Vasai, Maharashtra. Considering the company's presence in inhalation therapy, Cipla will use it as a platform for development of next generation respiratory devices.

The transaction is expected to be completed by the end of this financial year. The pharmaceutical undertaking of plastic moulding firm Jay Precision Products (India) Private Limited was demerged into Jay Precision in January 2014. Jay Precision generated revenues of Rs 30 crore for the year ended March 31, 2014. Cipla has also entered into a binding term sheet with its existing partner, Biopharm SPA, for establishing a joint venture company in Algeria. The JV will manufacture and market respiratory products facilitating Cipla’s front-end presence in Algeria.

As per the term sheet, the company’s wholly owned subsidiary, Cipla (EU) Limited, will hold a 40 per cent stake in the JV while the remainder will be held by a Biopharm-led Algerian consortium. The JV is expected to invest up to $15 million in the construction of a manufacturing facility wherein Cipla's initial investment is expected to be $6 million. Generic drug-maker Cipla has been aggressively growing its footprint internationally through acquisitions and joint ventures to increase its market share.

Earlier this month Cipla entered into a joint venture agreement with two of its existing business partners in Morocco – Societe Marocaine De Cooperation Pharmaceutique (Cooper Pharma) and The Pharmaceutical Institute (PHI). It is expected to invest $15 million in this venture.

A few months ago it said it is acquiring 51 per cent stake in a UAE-based pharma company. Earlier the company acquired 60 per cent stake in a Sri Lankan firm for $14 million. Cipla revived its inorganic expansion strategy in 2013 when it acquired its distribution partner in South Africa—Cipla Medpro South Africa Ltd—for $512 million. This was the company’s first acquisition in three years.