 "Cipla to enter Brazil, China with emerging market focus")
Cipla is entering the Brazil and China markets to grow its emerging markets (EMs) portfolio. And, is looking at further acquisitions to grow its speciality business in the US, said the drug maker's global chief executive officer, Umang Vohra.
EMs, comprising Asian and African countries, are a fifth of their revenue.
“Our focus in China will be respiratory products. We will bank on our expertise,” Vohra said. In Brazil, the plan is to launch oncology products and it has begun filing for product approvals.
Vohra took charge as managing director and global CEO last September. Under him, the company is furthering a strategy of expanding in its core India, South Africa and US markets. It has also left some places where it had a direct to market presence, thus controlling costs and reducing complexity.
Vohra said the company was looking to divest its animal health portfolio, too, and the process is expected to be completed soon.
It is a small portfolio, he added.
Last year, it sold its stake in clinical stage biopharmaceutical company Chase Pharmaceuticals to drug maker Allergan. In the first nine months of FY17, net profit was Rs 375 crore, a 44 per cent growth over a year before.
A greater focus will be on developing its footprint in the US market. The company has been a late entrant there.
While its other peers earn 40-50 per cent of their sales from there, Cipla earns about 18 per cent.
Last year, it acquired two companies in the US, InvaGen and Exelan. It is looking at further acquisitions to build a specialty drugs portfolio there. It launched a generic version of GSK's blockbuster inhaler, Seroflo, in Britain three weeks earlier. And, has applied to launch the Albuterol inhaler in the US. It has also got approval to sell the Seroflo inhaler in Australia. “The US is a growing market for us and the company will file around 25 products in the market this year,” said Vohra.
Cipla shares closed at Rs 591.60, up 0.64 per cent, on BSE, on Thursday.
EMs, comprising Asian and African countries, are a fifth of their revenue.
“Our focus in China will be respiratory products. We will bank on our expertise,” Vohra said. In Brazil, the plan is to launch oncology products and it has begun filing for product approvals.
Vohra took charge as managing director and global CEO last September. Under him, the company is furthering a strategy of expanding in its core India, South Africa and US markets. It has also left some places where it had a direct to market presence, thus controlling costs and reducing complexity.
Vohra said the company was looking to divest its animal health portfolio, too, and the process is expected to be completed soon.
It is a small portfolio, he added.
Last year, it sold its stake in clinical stage biopharmaceutical company Chase Pharmaceuticals to drug maker Allergan. In the first nine months of FY17, net profit was Rs 375 crore, a 44 per cent growth over a year before.
A greater focus will be on developing its footprint in the US market. The company has been a late entrant there.
While its other peers earn 40-50 per cent of their sales from there, Cipla earns about 18 per cent.
Last year, it acquired two companies in the US, InvaGen and Exelan. It is looking at further acquisitions to build a specialty drugs portfolio there. It launched a generic version of GSK's blockbuster inhaler, Seroflo, in Britain three weeks earlier. And, has applied to launch the Albuterol inhaler in the US. It has also got approval to sell the Seroflo inhaler in Australia. “The US is a growing market for us and the company will file around 25 products in the market this year,” said Vohra.
Cipla shares closed at Rs 591.60, up 0.64 per cent, on BSE, on Thursday.
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