Cipla Medpro subsidiary Medpro Pharmaceutica has entered into an agreement with Teva Pharmaceuticals.
As part of the deal, Medpro will exclusively market Teva's pharmaceutical product portfolio in South Africa.
Cipla Medpro CEO Paul Miller said: "This collaboration is highly complementary and aligns strongly with our philosophy of providing South Africans with access to a broader range of affordable medicines.
In South Africa, Teva will focus on the products in therapeutic areas such as oncology, central nervous system, women's health, cardiovascular, ophthalmology, as well as on other specialty products.
Cipla global CEO and managing director Subhanu Saxena said: "Cipla believes that the collaboration with Teva reaffirms its commitment to advancing healthcare for all South Africans."
Teva Pharmaceuticals supplies its products in around 60 countries, while Cipla Medpro is said to be the third largest pharmaceutical company in South Africa.
In September, Cipla partnered with UK's S&D Pharma to launch affordable, high-quality alternatives in the Czech Republic and Slovakia.
Under the deal, Cipla will introduce its respiratory product portfolio in both the countries, while S&D Pharma will look after the physical distribution of all products, including respiratory products.
Cipla produces around 2,000 products in 65 therapeutic categories. The company has reported around $1.7bn turnover in fiscal year 2013-2014, which supplies its products in around 170 countries.