Cipla Limited is an Indian multinational pharmaceutical and biotechnology company, headquartered in Mumbai, India. Belgium, Surrey in the European Union, Miami, Florida, in the United States and Cape Town in South Africa; with manufacturing facilities in Goa (eleven), Bengaluru (one), Baddi (one), Indore (one), Kurkumbh (one), Patalganga (one), and Sikkim (one), along with field stations in Delhi, Pune, and Hyderabad and Durban, South Africa. Cipla primarily develops medicines to treat cardiovascular disease, arthritis, diabetes, weight control and depression; other medical conditions. As of 17 September 2014, its market capitalisation was ?517 billion (US$7.7 billion)(US$7.7 billion), making it Indias 42nd largest publicly traded company by market value. It was founded by Dr. Khwaja Abdul Hamied as 'The Chemical, Industrial & Pharmaceutical Laboratories' in 1935 in Mumbai. The name of the Company was changed to 'Cipla Limited' on 20 July 1984. In the year 1985, US FDA approved the companys bulk drug manufacturing facilities. Led by the founder’s son Yusuf Hamied, a Cambridge-educated chemist, the company became a global icon for its role in defying Western multinational pharmaceutical companies in order to provide generic AIDS and other drugs to treat poor people in the developing world. In 1994, Cipla launched Deferiprone, the world’s first oral iron chelator. In 2001, Cipla offered medicines (antiretrovirals) for HIV treatment at a fractional cost (less than $350 per year per patient).