I am addressing you with humility and great pride as we celebrate the 80thanniversary of Cipla. We have completed eight decades of valuable service in healthcarenot only in India but worldwide. This year also marks my completing over 55 years ofactive association with Cipla. As long as I can add positive value to the company whetherscientific or business-related I will continue to do so and be with you.
Our pharma industry looks after the healthcare needs of our nation and that of manyother countries. We are a major producer and supplier of affordable drugs worldwide. Manycountries are dependent on India for their drugs. Now that our Indian pharma industry isat the forefront of healthcare the Government should be fully supportive. Any furtherdilution in the Patents Act will adversely affect not only India but several countrieswhich depend on India for their medicines.
Even though we are setting up manufacturing bases abroad
India will still be our major production base. Thanks to our strong brand equity andthe relentless drive of our sales and marketing people Cipla is the preferred choice ofdoctors in many key therapeutic areas whether they are specialists or generalpractitioners whether they practice in urban or rural India. To maintain our leadershipinvolves hard and sustained work at all levels.
So how do we stay ahead as a companyRs.
The only way is by investing in R&D in innovation and in our people. For the pastfew years we have put in a great deal of effort time and money in these critical areas;the results of this will be evident in the near future. Last year we spent over 6% of ourturnover in R&D. The projects taken up are all carefully planned and accountable. Wehave invested in newer technologies like biotech stem cells nano technology continuousflow chemistry.Collectively we must build the best-in-class organisational capacity tomake our aspired future come to life.
You will appreciate that no company can manufacture everything. We have thereforeentered into many licensing agreements with other companies. This is in line with ourmission to provide access to affordable essential medicines.
We have a separate Cipla Global Access Program (CGA) which concentrates on four keytherapy areas. These are HIV/AIDS Malaria Multiple Drug Resistant TB and ReproductiveHealth. Our aim is to reach out to 80 million patients in these four therapies by 2020.
In keeping with our strategy for the future we launched a new division called CiplaNew Ventures (CNV) to build newer innovation-led businesses. This also involvesmanufacturing and marketing biotech products for cancer respiratory diabetes andauto-immune diseases.
Even as I conclude I must re-emphasize that Cipla will continue to serve patientsacross the world with the same passion and commitment that we have since our inceptionsome 80 years back. The best is yet to come for your company. I am confident that goingforward the journey of Cipla will build on the legacy we have and create a new future ofmore hope greater success and deeper purpose. As we see a transformation to the nextgeneration of the Hamied family I have no doubt that in Samina Vaziralli we have atrustee who will preserve inspire and enhance the spirit that we call Cipla.
Y. K. Hamied