As the world continues to face uncertainties, innovation is the only way the pharmaceutical industry will be able to navigate its way through, said Cipla doyen YK Hamied.
Scientists have been able to provide the world with medicines, diagnostics and therapeutics, despite the challenges of diseases, war, supply chain disruptions, AMR (anti-microbal resistance) and climate change, said Hamied at the drugmaker’s annual shareholder meeting on Friday.
Focus areas
Picking up on the innovation thread, Cipla’s Managing Director and Global Chief Executive Officer Umang Vohra said, the company’s focus areas would include biosimilars and mRNA, besides a digital outreach and solutions. With revenues at ₹21,763 crore, up 14 per cent last year, Cipla’s growth has been across all markets, he said, responding to shareholder queries. The company’s exposure to war-hit Ukraine was less than 1 per cent, he added. Acquisitions are always on the cards, he indicated, with the company being on the lookout for large brands and assets that fit its plans.
The company’s One India business has crossed the ₹10,000 mark, a growth of 27 per cent, said the management. This segment includes branded prescription products, trade generics and consumer health products. The segment also has partnerships like the one with multinational Eli Lilly for about five or six products in the diabetes segment.
In FY22, Cipla’s research-spend increased 21 per cent over the previous financial year, Vohra said. The company invested 5.16 per cent of its consolidated revenue in technologies focused on improving the environmental and social impacts of their products and processes. Cipla has five R&D facilities in New York, Maharashtra and Karnataka. And the year saw one of its research facilties, at Kurkumbh (Maharashtra), being closed.