Cipla hits record high as UK arm plans to invest additional 3 mln euro in Ethris

The pharma major announced that its wholly-owned subsidiary in United Kingdom, Cipla (EU) will invest an additional EUR 3 million in Ethris GmbH, a global leader in delivering mRNAs directly to the respiratory system.

This additional investment through a convertible loan will accelerate Ciplas participation in the messenger RiboNucleic Acid (mRNA) space.

Earlier, Cipla had invested EUR 15 million in Ethris in 2022. This additional investment reaffirms Ciplas confidence in Ethriss proprietary mRNA platform and its potential for patients in emerging markets.

Together, Cipla and Ethris are working towards a long-term strategic partnership to fast-track innovative mRNA-based treatments, said the firm.

During the COVID19 pandemic, mRNA vaccines gained importance due to the first regulatory approvals for SARS-CoV-2. mRNA-based medicines have a huge potential in several indications as infectious disease vaccines, therapeutic cancer vaccines, and protein replacement therapies.

Umang Vohra, managing director (MD) & global chief executive officer (CEO), Cipla, said, At Cipla, we strive to dial-up our focus and investment towards innovative modalities and bring new age therapies to emerging countries, including India. The follow-on investment in Ethris will help get cutting-edge healthcare solutions like mRNA-based therapies to the Global South.

Dr. Carsten Rudolph, CEO, Ethris, added, The additional investment by Cipla further validates the broad potential of our platform and Ethris innovative approaches to developing respiratory RNA-based medicines. We deeply value this ongoing relationship to bring effective solutions to developing countries. The capital will enable us to continue advancing our pipeline and we look forward to providing an update on our lead program in the near term.

Cipla is a global pharmaceutical company focused on agile and sustainable growth, complex generics, and deepening portfolio in our home markets of India, South Africa, North America, and key regulated and emerging markets.

The pharma company reported 79% jump in consolidated net profit to Rs 939.04 crore on 10% increase in revenue from operations to Rs 6,163 core in Q4 FY24 over Q4 FY23.

The scrip hit an all time high of Rs 1,576.45 in todays intraday session.

Powered by Capital Market - Live News