Cipla: All-round show, prospects up

Firm's 19% y-o-y growth is way ahead of peers, Dr Reddy's and Glenmark, which delivered 2.0-6.6%

Cipla reported strong numbers for the quarter ended December 2016 (Q3), marking rebound. In the demonetisation-impacted quarter, when Dr Reddy’s and Glenmark reported a muted domestic sales growth of 2-6.6 per cent, Cipla’s 19 per cent year on year growth is commendable. 

Even US business posted robust growth. Though the geography still contributes just nine per cent to overall revenues, Cipla saw a 127 per cent growth there. While year-ago quarter had seen one-off benefits from supplies of a heart-burn drug, Q3 is reaping acquisitions of Invagen and Exelan. In FY17 so far, Cipla has filed for 21 ANDAs (abbreviated new