Shareholders of drug-maker Cipla approved the induction of Ms Samina Vazirali, niece of Chairman Dr Y.K. Hamied, into the company.

Last year, Mr Kamil Hamied, Dr Hamied's nephew and son of Joint Managing Director, Mr M.K. Hamied, was formally inducted into Cipla.

Outlining the significance of the younger generation's entry into the business, Dr Hamied said, that Mr Khamil along with Executive Director, Mr S. Radhakrishnan, work closely on the exports and partnerships that Cipla is exploring with overseas companies.

Mr Khamil has been with the company for six years, earlier involved with marketing and general management, he said, responding to media queries after the company's 75{+t}{+h} shareholder meeting.

Mr Radhakrishnan has also been inducted onto the company's board of directors. The developments gain significance, following the recent passing away of Cipla Director Amar Lulla.

Takeover buzz

Given the constant buzz of Cipla being a target for takeover by overseas drug-makers, Dr Hamied reiterated they have a strong and professional management team. In his opening comments, Dr Hamied told shareholders, “I would like Cipla to grow forever and ever, if possible. Cipla is a household name in India and Africa.”

Responding to a shareholder's ownership query, he said: “Lots of things float from time to time of a speculative nature. I can assure you…all of them are baseless.”

Later he told the media, “We have never been approached by anyone.”

Alliances

With a 7,000-strong field-force, Dr Hamied said, Cipla would look for marketing alliances with international companies looking to sell their products in India. The company would look at segments where Cipla is traditionally weak, like diabetes, he said.

Cipla would also look to bring in bio-similar products, about four drugs in four years, he said. Further, Cipla is looking at having alliances in overseas markets, to have manufacturing bases there.

Patent-pool

On the Unitaid's patent pool, Dr Hamied said there were issues regarding the markets open to a company that uses patents from the pool. It did not make sense to pay royalty to an innovator company to sell a similar version of the product to least developed markets, where there is no patent law in the first place, he said.

Companies using patents from the pool make investments to manufacture the product, but they are restricted from selling to markets like South America and Europe, he said.

jyothi@thehindu.co.in

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