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COMPANY PROFLE - CIPLA LIMITED
 


Cipla Ltd company profile

BY OUR PHARMA CORRESPONDENT
May 17, 2006

India’s second largest pharmaceutical firm Cipla Ltd, edged out the multinational giant GlaxoSmithKline which was reigning supreme in the country for long, in terms of drug sales last year.

Consistently maintaining a fast-track growth momentum, Cipla has registered an 80-percent jump in net profit for the quarter ended on March 31 2006, driven by growth in domestic sales and exports.

In the fourth quarter, Cipla posted a net profit of 1.90 billion rupees. Net sales grew 63 percent to 8.7 billion rupees. Cipla's exports in the quarter grew 63.7 percent while domestic sales rose 56.4 percent. Cipla anticipates 15 to 20 percent growth in this year. 

Cipla Limited: Background

Based in India’s commercial capital Mumbai, The Chemical, Industrial & Pharmaceutical Laboratories, currently Cipla was founded by Khwaja Abdul Hamied in the year 1935.

K A Hameid gave the company all his patent and proprietary formulas for several drugs and medicines, without charging any royalty. On August 17, 1935, Cipla was registered as a public limited company with an authorised capital of Rs 6 lakhs. Cipla started markeing its product on September 22, 1937.

Today, Cipla is a leading player in anti-infective and anti-asthmatic formulations. The company also specializes in the manufacturing of steroids and hormones. Cipla manufactured ampicillin for the first time in the country in 1968. In 1983, Cipla developed two anticancer drugs, vinblastine and vincristine from the common garden plant Vinca rosea in association with the National Chemical Laboratory. The company pioneered the manufacture of the antiretroviral drug, zidovudine, in technological collaboration with Indian Institute of Chemical Technology in 1993. In 1997 Cipla became the first company in the world by launching transparent Rotahaler, a dry powder inhaler device. In 1998 the company launched lamivudine, and became one of the few companies in the world to offer all three component drugs of retroviral combination therapy (zidovudine and stavudine already launched).Cipla received clearance from the Drugs Controller General of India to manufacture and market the country's first non-nucleoside reverse transcriptase inhibitor (NNRTI), nevirapine, for the treatment of AIDS.

Cipla Ltd.: R&D

Cipla's R&D division focuses on the development of new products and new drug delivery systems across a range of therapies. The company is spending over 4 per cent of its total turnover on R&D activities. It filed 55 ANDAs during 2004-05 and received approval for 11 products from US FDA. The company supplies drugs to treat over 2 lakh HIV-positive patients worldwide. The company has also been among the major suppliers of anti-malarial drugs and drugs for schistosomiasis to international markets. It has a research alliance with a Bangalore-based biotech company Avesthagen, to develop biotherapeutic products.

Cipla Ltd.: Board of Directors

Chairman & Managing Director 
Dr. Y.K. Hamied 

Joint Managing Directors 
Mr. M.K. Hamied
Mr. Amar Lulla 

Non-Executive Directors 
Dr. M.K.Gujar
Mr. V.C. Kotwal
Dr. H.R. Manchanda
Mr. S.A.A. Pinto
Mr. M.R. Raghavan
Mr. Ramesh Shroff 

Manufacturing and R&D facilities

Mumbai

Corporate Office and R& D centre for formulations 

Vikhroli 
Manufacturing of bulk drugs & formulations (Liquid Orals, Aerosols), 
R&D bulk drugs & formulations 

Bangalore 

Manufacturing of bulk drugs & formulations (R&D Bulk drugs) 
Approved by US FDA (for bulk drugs); WHO 

Patalganga 

Manufacturing plant for bulk drugs & formulations (R&D Bulk drugs)

Kurkumbh

Manufacturing facility for bulk drugs & formulations 
(R&D Bulk drugs) 

Goa 

Manufacturing set up for formulations

Baddi, Himachal Pradesh 

Manufacturing of tablets & capsules, formulations 

Products 

Cipla has the largest product basket among all the pharmaceutical players in India ranging from prescription to OTC to animal health, besides a big kitty for active pharmaceutical ingredients (APIs) or bulk drugs. 

Prescription 

Amoebicides/Antiprotozoals 
Anabolic steroids 
Anaesthetics 
Analgesics/Antipyretics 
Antacids 
Anthelmintics 
Anti-inflammatory drugs 
Anti-TB drugs 
Antiacne drugs 
Antiallergic drugs 
Antialzheimer drugs 
Antiasthma drugs 
Antibiotics and Antibacterials 
Anticancer drugs 
Anticoagulants and Antiplatelet agents 
Antidepressants 
Antidiabetics 
Antidiarrhoeals 
Antiemetics/Antinauseants 
Antiepileptic drugs 
Antiflatulents 
Antifungals 
Antigout drugs 
Antimalarials 
Antimigraine drugs 
Antiobesity drugs 
Antiosteoporotic agents 
Antiparkinsonian drugs 
Antipsychotics 
Antispasmodics 
Antiulcerants 
Antivirals 
Anxiolytics 
Appetite stimulants 
Asthma related devices 
Cardiovascular agents 
Cerebral vasodilators 
Cholesterol reducers 
Digestive supplements 
Diuretics 
Erectile dysfunction therapy 
Expectorants/Cold preparations/Mucolytes 
Eye and ear preparations 
Haematopoietic drugs 
Haemostatics 
Hematinic preparations 
Hepatobiliary drugs 
Hormone replacement therapy 
Hormone-related drugs 
Hypnotics 
Immunosuppressants 
Iron chelators 
Laxatives 
Muscle relaxants 
Narcotic analgesics 
Nasal preparations 
Neuromuscular blocking agents 
Nutritional supplements 
Peripheral vasodilators 
Rectal preparations 
Systemic corticosteroids 
Topical corticosteroids 
Topical preparations 
Urological products 
Uterine stimulants 

OTC 

Cipla’s over-the-counter drugs portfolio comprises the following segments

Analgesics - Oral 
Artificial Sweetener 
Calcium Preparations 
Child Care 
Cold & Flu 
Constipation 
Cosmetics & Skin Care 
Dental Care & Oral Hygiene 
Diarrhoea 
Food Supplements 
Indigestion 
Infant Food 
Medicated Plasters 
Medicated Shampoos 
New Products to be Launched 
Others 
Protein Supplement 
Soar Throat & Cough 
Toiletries 
Tonics 
Urinary Alkalinizer 

Veterinary

Cipla’s animal health care products division has four sections dedicated for equine, poultry, companion animals, livestock animals products, apart from Herbal Specialities. 

Active Pharmaceutical Ingredients 

Cipla is one of the biggest exporter of low-cost, high quality APIs across the world. Major bulk drugs and intermediates manufactured by Cipla are:

Adefovir Dipivoxyl 
Albendazole USP 
Albuterol Sulfate 
Alendronate Sodium.3H2O 
Alprazolam 
Amlodipine Besylate 
Anastrazole 
Atorvastatin 
Aripiprazole 
Azelastine HCl 
Alfuzosin HCl 
Anagrelide HCl Monohydrate 
Apraclonidine HCl 
Bambuterol HCl
Beclomethasone Dipropionate 
Bicalutamide 
Brimonidine Tartrate 
Budesonide 
Bupropion HCl 
Butenafine HCI 
Butaconazole Nitrate
Carvedilol 
Carboplatin 
Carbidopa - underdevelopment 
Celecoxib 
Cetirizine Di HCl 
Cisplatin 
Ciclesonide 
Cilostazol 
Ciprofloxacin HCl 
Citalopram HBr 
Clopidogrel Hydrogen Sulphate 
Clarithromycin 
Cyproterone acetate 
Danazol 
Deferiprone 
Desloratidine 
Didanosine 
Disodium Pamidronate 
Docetaxel 
Donepezil HCl 
Dorzolamide 
Doxazosin Mesylate 
Duloxetine HCl 
Dutasteride 
Ebastine 
Efavirenz 
Emtricitabin 
Escitalopram Oxalate 
Esomeprazole Mg 3H2O 
Estramustine Sodium Phosphate 
Etidronate Disodium 
Etoposide 
Ezetimibe - underdevelopment 
Famcyclovir 
Febantel (Vet) 
Felodipine 
Fenbendazole 
Fexofenadine HCl 
Finasteride 
Fluconazole 
Fluoxetine HCl 
Flutamide 
Fluticasone Propionate 
Formoterol Fumarate 
Gabapentin 
Gancyclovir 
Gatifloxacin 
Granisetron HCl 
Imatinib Mesylate 
Imiquimod 
Irinotecan HCl 3H2O 
Lamivudine 
Lamotrigine 
Lansoprazole 
Leflunomide 
Letrozole 
Levalbuterol HCl 
Levalbuterol Sulphate 
Levocetrizine 2HCl 
Levofloxacin 1/2H2O 
Loratadine 
Losartan Potassium 
Levetiracetam 
Lorazepam 
Loteprednol Etabonate 
Mebendazole 
Mefloquine HCl 
Meloxicam 
Mirtazapine 
Mitoxantrone HCl 
Moclobemide 
Modafinil 
Mometasone Furoate 
Montelukast Sodium 
Moxifloxacin 
Nelfinavir Mesylate 
Nateglinide 
Nevirapine 
Nimodipine 
Norfloxacin 
Olanzapine 
Omeprazole 
Omeprazole Mg 3H2O 
Ondansetron HCl.2H 2 O 
Oxcarbazepine 
Oxaliplatin 
Paclitaxel 
Pamidronic Acid/ Na Salt 
Pantoprazole Sodium 1.5H 2 O 
Paroxetine HCl 
Perindopril Erbumine 
Pioglitazone 
Pramiprexole 2HCl 
Prasterone (DHEA) 
Praziquantel 
Pregabaline - underdevelopment 
Quetiapine Fumarate 
Quinapril HCl 
Rabeprazole Sodium 
Rafoxanide (Vet ) 
Ramipril 
Ribavirin 
Riluzole 
Risedronate Sodium 
Risperidone 
Rivastigmine Tartrate 
Rizatriptan Benzoate 
Rofecoxib 
Rosiglitazone 
Raloxifen 
Ropinirole - underdevelopment 
Salbutamol Sulphate 
Salmeterol Xinafoate 
S- Amlodipine Besylate 
Saquinavir 
Selegiline HCl 
Sennoside 
Sertraline HCI 
Sibutramine HCl 
Sildenafil Citrate 
Simvastatin 
Stavudine 
Tamsulosin HCL 
Tenofovir Disoproxil Fumarate - underdevelopment 
Tadalafil 
Tegaserod 
Temazolamide 
Terazosin 
Terbinafine HCl 
Terbutaline Sulphate 
Tibolone 
Tiotropium Bromide 
Topotecan 
Torsemide 
Triclabendazole 
Ticlopidine HCl 
Tizanidine 
Topiramate 
Trimetazidine 2HCl 
Valacyclovir 
Valdecoxib 
Venlafaxine HCl 
Vinblastine Sulfate 
Vincristine Sulfate 
Zaleplon 
Zidovudine 
Zolendronic Acid 
Zolmitriptan 
Zolpidem 
Ziprasidone 

Cipla's exports

Cipla exports raw materials, intermediates, prescription drugs, OTC products and veterinary productsrugs to more than 160 countries including the U.S., and a number of countries in Europe, Africa, Australia, Latin America and the Middle East. 

Cipla shipped products worth more than Rs.10,500 million last year. Exports amounted to more than Rs.10,500 million. Cipla exports. Cipla also offers technology for products and processes. 

Recently, Cipla entered agreement with Pentech Pharma of USA for marketing a range of generic products for American market. Pentech is involved in developing therapies for lifestyle and quality of life conditions. This will further boost its export performance.

Cipla's manufacturing facilities have been approved by: Food and Drug Administration (FDA), USA; Medicines and Healthcare products Regulatory Agency (MHRA), UK; Therapeutic Goods Administration (TGA), Australia 

Medicines Control Council (MCC), South Africa; National Institute of Pharmacy (NIP), Hungary; Pharamaceutical Inspection Convention (PIC), Germany; World Health Organisation (WHO); Department of Health, Canada

State Institute for the Control of Drugs, Slovak Republic and ANVISA, Brazil.

Cipla: Future Outlook

Cipla keeps the steady momentum of growth with an overall growth of more than 57% in income from operations for the quarter ended March 2006. Currently, we are one of the largest exporters of pharmaceutical products in India, exporting APIs and formulation products to more than 160 countries including the U.S., and a number of countries in Europe, Africa, Australia, Latin America and the Middle East.

Both the international as well as the domestic business have recorded a growth of more than 56% and 63% respectively, in the last quarter. All the major segments including anti-asthmatics, cardiovascular and anti-biotics/bacterials segments have shown good performance in the domestic market. 

In the exports markets, anti-retrovirals, anti-malarials, anti-asthmatics, anti-depressants and cardiovascular segments have performed well. 

In April 2006, Cipla raised US$ 170 million (Rs. 762.20 crores) through an issue of 1,10,46,310 Global Depository Receipts (GDRs). Each GDR represents one equity share of Rs.2 each and was priced at US$ 15.39 (equivalent to Rs.690). The said GDRs have been listed on the Luxembourg Stock Exchange and the Company has already applied to Bombay Stock Exchange Limited (BSE) and National Stock Exchange of India Limited (NSE) for having the underlying shares listed.

The Board of Directors recommended the issue of bonus shares in the ratio of three shares for every two shares held and the shareholders have approved the same through a postal ballot on 21st March, 2006.The record date for determining the members who are entitled to the bonus shares is 25th April, 2006.

Consequent to the issue of GDRs and bonus shares, the paid-up equity share capital will stand increased to Rs. 155.46 crores.

Cipla has created strong reserve position and its reserves touched to Rs 1493.66 crore during the year ended March 2005. It has reduced its investments in the mutual funds drastically during 2004-05 which declined to Rs 18.30 crore from Rs 180.37 crore to part finance its ongoing expansion programmes.

As Cipla turns 70, the company is set to achieve further improvement with commissioning of its expansion projects and launching of new products. It has 140 ongoing projects with five companies in the US. It has a strategic alliance with the US generics major Watson, IVAX, Eon etc. Its alliance partners have filed 31 ANDAs and it is expected that they will filled additional 35 ANDAs in the next 12-15 months.




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