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Dear Readers, Welcome to the latest issue of The Magazine
Mumbai, May 15, 2020: Cipla Limited (BSE: 500087, NSE: CIPLA) today announced its audited consolidated financial results for quarter ended March 31st, 2020.
Key highlights of the quarter:
India: The Rx business grew by 12% on a y-o-y basis recording a 3rd consecutive quarter of market beating growth. The trade Gx business revives strongly recording 2nd consecutive growth quarter South Africa: Overall business continued the strong growth momentum to deliver growth of 10% on a y-o-y basis in local currency; private business continues to outpace the market significantly US business: Reported USD 118mn post normalisation of IP-enabled opportunity Quality Focus: Received EIR for API manufacturing facility at Bangalore from USFDA R&D investments stand at INR 311 crores or 7.1 % of sales Focused execution of business continuity planning for manufacturing, supply chain, R&D and marketing with emphasis on cost optimization and cash management
India:
➢India Rx business delivered 3rd consecutive quarter of market beating double-digit growth ➢Trade Gx business grew by 15%1 reviving strongly since Q2 highlighting the fundamental strength of the business ➢Cipla continued to perform well across key therapeutic areas. a)Growth in MAT Mar’20 was driven by Respiratory, Cardiac, Gastro and Pain b)Chronic therapies ranked #2 driving a significant share of our growth and grew by 12% as per IQVIA MAT Mar’20 broadly in line with market growth c)Cipla continued to maintain leadership position across Respiratory and Urology while maintaining 3rd position in Anti-infectives and 4th in Cardiology
As the world endures the unprecedented COVID-19 pandemic, our foremost focus has been on safeguarding our employees and ensuring wellbeing of our patients. In support of the Government’s efforts to combat the crisis, the company set-up an INR 25 crore ‘Caring for Life’ COVID-19 dedicated fund to support the healthcare ecosystem and communities. As a pharmaceutical company, it our constant endeavour to ensure that patients have access to life-saving drugs, we recently partnered with Gilead Sciences, Inc. for the manufacturing and distribution of the investigational medicine Remdesivir to treat COVID-19 patients upon approval. Our key markets continued to demonstrate strong growth momentum in the quarter. The USFDA approval for generic Albuterol MDI and the successful completion of the Phase 3 clinical study of generic Advair Diskus® has strengthened our respiratory franchise in the US market; furthering our aspirations of becoming the lung leaders of the world. As a ‘new world’ dawns post the pandemic, Cipla continues to uphold its pioneering legacy by reimagining healthcare and reinventing the ecosystem; all keeping the patient care at the core.- Umang Vohra MD and Global CEO, Cipla Ltd
Continued growth investments: Acquired 4 umbrella brands in the nutraceutical segment from Wanbury Limited to further strengthen four-decade long presence in the women’s health category
SAGA – SOUTH AFRICA, SUB-SAHARAN AFRICA AND GLOBAL ACCESS
➢Overall South Africa business continued the strong growth momentum to deliver growth of 10% on a y-o-y basis in local currency for the quarter ➢ Cipla continues to rank as the 3rd largest pharmaceutical player within the South African private market with a market share of 6.9% ➢ Cipla emerged largest OTC player in the addressable market with a share of 7.1% and 3rd largest ARV player in the private market with a share of 15% ➢ The Sub-Saharan Africa business were impacted by receivables related challenges; CGA business remained flat for the quarter
North America
Pipeline Update: ➢ Unlocking of the Respiratory franchise in the US with the launch of generic Albuterol; Only approved generic for Proventil® ➢ Achieved first-pass success in the phase 3 trials for generic Advair® ➢ Filing of another complex inhaler ➢ Recently launched Esomeprazole for oral suspension with First to file on the 10 mg strength US Specialty: ➢ CNS Out-licensing: Sub-licensed NCE CNS asset to a partner for further development and actively exploring partnerships for the other CNS asset ➢ Working with USFDA on IV Tramadol NDA submitted in Dec via Avenue Therapeutics
Europe,Emerging Markets & API
➢ The European operations reported robust 14% growth on a full year basis led by strong performance in key DTM markets. Cipla’s overall FPSM pMDI market share is 20% in Europe ➢ The emerging market business was flat on Covid-19 related logistical challenges with recovery in Q1FY21 ➢ The API business grew by 38% for the quarter and 5% for the full year in USD terms driven by continued momentum in global seedings & lock-ins
About Cipla Ltd Established in 1935, 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. Our strengths in the respiratory, anti-retroviral, urology, cardiology, anti-infective and CNS segments are well-known. Our 46 manufacturing sites around the world produce 50+ dosage forms and 1,500+ products using cutting-edge technology platforms to cater to our 80+ markets. Cipla is ranked 3rd largest in pharma in India (IQVIA MAT Mar’20), 3rd largest in the pharma private market in South Africa (IQVIA MAT Mar’20), and is among the most dispensed generic players in the U.S. For over eight decades, making a difference to patients has inspired every aspect of Cipla’s work.
