Cipla is looking at newer therapeutic areas including neurology, obesity and mental health, said Umang Vohra, Managing Director and Global Chief Executive Officer.
The pipeline would be a mix of its products and through in-licensed ones, said Vohra, outlining epilepsy, and Parkinson’s. Migraine and other neurological conditions as areas of interest. This would be in addition to the company’s focus on lung leadership and anti-microbial resistance, Vohra said, addressing media queries on the company’s financial performance for the three months ended June 30, 2024, and its plans ahead. On acquisitions, the Cipla MD said, they would be interested in acquiring brands in its core areas in India, besides select capabilities in the United States, he said.
Samina resigns from board
The growth plans come even as Cipla’s Samina Hamied told BSE, she was resigning from the company’s board as Non-Executive Director, “due to personal and family commitments.” Samina is Cipla Doyen Dr YK Hamied’s niece and the resignation comes into effect from October 29, 2024. Earlier this year, Samina had said she was stepping down as executive vice-chairperson – and this came into effect from March 31, 2024. And all of this plays out, even as reports suggest that members of Cipla’s promoter family intend to sell their stake – something that has to date been dismissed by Dr Hamied, as “speculative”.
Q1 performance
Cipla clocked revenues of ₹6,694 crore for the first quarter ended June 30, 2024, up 7 per cent over the same period last year. Its profit after tax at Rs 1178 crore in the period under review, was up 17 per cent over the corresponding period last year.
“Our One-India business continued on its growth trajectory during the quarter, led by banded prescription which grew at 10 per cent. Our concentrated focus and execution in the differentiated portfolio have further strengthened the US business which yet again posted all-time high quarterly revenue at $250 Million. In South Africa, we recorded a solid growth of 19 per cent y-o-y in local currency terms, led by (the) private market. Going ahead, the focus will be on growing our key markets, further building our flagship brands, investing in the future pipeline as well as focusing on resolutions on the regulatory front,” Vohra said.