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Cipla: Exports to be the new focus - Views on News from Equitymaster
 
 
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  • Aug 3, 1999

    Cipla: Exports to be the new focus

    Cipla Ltd. is planning to spend upto US$ 15 mn on setting up four dedicated formulations facilities to cater to the US market. It also plans to spend an additional Rs 450 mn for new facilities for 2-3 dosage forms, and expansion and modernisation of existing units.

    Cipla is the second largest pharmaceutical company in India. It is recognised as a technologically driven company with strong brand equity and a wide product range. All its bulk manufacturing facilities have USFDA approval, while formulation facilities have WHO's GMP approval.

    Cipla has identified exports as a new focus area, and this is evident from the 105% jump in export revenues during the first quarter of the current financial year. The decision to set up four dedicated formulations facilities to cater to the US market underscores the seriousness of the company's ambitions.

    Cipla is close to launching the five novel drug delivery systems that have been developed inhouse, one of which is likely to be licensed to an international company. This could turn out to be a big money spinner for the company and at the same time establish the company's credentials in pharmaceutical research and development.

    The Indian pharmaceutical industry is undergoing a transition in view of the implementation of product patent laws in India. Such laws will make it virtually impossible for companies to imitate products and sell it at lower prices in various markets. Indian companies, particularly those that have no research base, are likely to be the hardest hit. Some like Ranbaxy and Dr Reddy's are already undertaking steps to become research based companies. Cipla too has become increasingly aggressive in its research spending:

     

     

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