Saturday, 18 August 2018

Cipla announced Q1 FY19 results

08 August 2018 | News

In addition, Cipla also announced Dr. R. Ananthanarayanan as Global Chief Operating Officer.

Representative Image | Image Credit: india.org.za

Representative Image | Image Credit: india.org.za

Cipla has announced the appointment of Dr. R. Ananthanarayanan (Ananth) as its Global Chief Operating Officer (GCOO), effective 8 August 2018.

In his role at Cipla, Ananth will oversee R&D, Manufacturing, Supply Chain, the API business and the key geographies of North America, Europe and Emerging Markets to help leverage and grow Cipla’s generics portfolio and competencies in these markets. He will report to Umang Vohra, Managing Director & Global Chief Executive Officer.

In addition, Cipla also announced Q1 FY19 results demonstrating strong growth momentum across home markets and key differentiated approvals for US.

Major highlights are:

The company showed strong YoY sales growth of 12% with EBITDA growing by 12%.

R&D investments stood at ~INR 278cr i.e. ~7% of sales

Strong growth across India (+22% YoY), South Africa
(+14% YoY adjusted for animal health) and API business (+48% YoY) were seen

The key differentiated launches in the US were Isoproterenol HCI Injection and Testosterone Cypionate Injection

It received EIR for Goa & Indore Plants

“I am pleased with our performance in the quarter which demonstrates our strong foothold and continued growth momentum in our home markets. The limited competition launches in the US were in-line with our expectations and we are looking forward to more interesting
launches in the coming weeks. Business development efforts saw a significant boost - India partnership with Roche and Eli Lilly, in-licensed biosimilars in emerging markets and the proposed acquisition of Mirren (Pty) Ltd in the South African OTC space. These efforts will help
drive portfolio build-up and sustainable growth in these markets. We continued to retain our focus on quality with EIR received for our Goa & Indore plants. We will continue to play to our strengths in pursuit of our purpose of ‘Caring for Life’”

 

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