Cipla Ltd

Cipla Ltd is one of the leading pharmaceutical companies in India. The Company is in the business of manufacturing, developing, and marketing wide range of branded and generic formulations and Active ... Pharmaceutical Ingredients (APIs). Cipla's product portfolio spans complex generics as well as drugs in the respiratory, anti-retroviral, urology, cardiology, anti-infective, CNS, and various other key therapeutic segments. With a rich portfolio, it is deepening presence in the home markets of India, as well as South Africa, North America, and other key regulated and emerging markets. Its 47 manufacturing sites around the world produce more than 50 dosage forms and over 1,500 products across wide range of therapeutic categories. Cipla Ltd was incorporated in the year 1935 with the name Chemical, Industrial & Pharmaceutical Laboratories Ltd. Khwaja Abdul Hamied, the founder of Cipla 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 authorized capital of Rs 6 lakh. From its first manufacturing unit at Bombay Central in 1936, Cipla now has over 40 state-of-the art manufacturing facilities across the globe including India, USA, China and South Africa. In the year 1941, as the Second World War cuts off drug supplies, the company starts producing fine chemicals, dedicating all its facilities for the war effort. In the year 1952, the company set up first research division for attaining self-sufficiency in technological development. In the year 1960, they started operations at second plant at Vikhroli, Mumbai, producing fine chemicals with special emphasis on natural products. In the year 1968, the company manufactured ampicillin for the first time in the country. In the year 1972, the company started Agricultural Research Division at Bangalore, for scientific cultivation of medicinal plants. In the year 1976, they launched medicinal aerosols for asthma. In the year 1980, the company won Chemexcil Award for Excellence for exports. In the year 1982, the company started operations in their fourth factory at Patalganga, Maharashtra. In the year 1984, they developed anti-cancer drugs, vinblastine and vincristine in collaboration with the National Chemical Laboratory, Pune. Also, they won Sir P C Ray Award for developing in-house technology for indigenous manufacture of a number of basic drugs. In the year 1985, US FDA approved the company's bulk drug manufacturing facilities. In the year 1988, they won National Award for Successful Commercialisation of Publicly Funded R&D. In the year 1991, the company launched etoposide, a breakthrough in cancer chemotherapy, in association with Indian Institute of Chemical Technology. Also, they manufactured antiretroviral drug, zidovudine, in technological collaboration with Indian Institute of Chemical Technology, Hyderabad. In the year 1994, the company commenced commercial operations in their fifth factory at Kurkumbh, Maharashtra. In the year 1997, they launched transparent Rotahaler, the world's first such dry powder inhaler device. In the year 1998, they launched lamivudine. The company becomes one of the few companies in the world to offer all three component drugs of retroviral combination therapy. In the year 1999, the company launched Nevirapine, antiretroviral drug, used to prevent the transmission of AIDS from mother to child. In the year 2000, the company became the first company, outside the USA and Europe to launch CFC-free inhalers - ten years before the deadline to phase out use of CFC in medicinal products. In the year 2002, the company set up four state-of-the-art manufacturing facilities in Goa. In the year 2003, they launched TIOVA (Tiotropium bromide), a novel inhaled, long-acting anticholinergic bronchodilator that is employed as a once-daily maintenance treatment for patients with chronic obstructive pulmonary disease (COPD). Also, they commissioned second phase of manufacturing operations at Goa. In the year 2005, the company set up state-of-the-art facility for manufacture of formulations at Baddi, Himachal Pradesh. In the year 2007, they set up state-of-the-art facility for manufacture of formulations at Sikkim. In February 2007, the company entered into a development and supply agreement with Drugs for Neglected Diseases Initiative (DNDi), a global non-profit organization, for a new anti-malarial combination drug as a global initiative. During the year 2009-10, the company sold their intellectual property rights and technical know-how of 'i-pill', an emergency contraceptive brand, to Piramal Healthcare Ltd, for the territory of India, at an aggregate consideration of Rs 95 crore. Also, they entered into a strategic alliance with Stempeutics Research Pvt. Ltd., promoted by the Manipal Group, for the marketing rights of stem-cell-based products being developed by Stempeutics. Cipla is sponsoring up to Rs.50 crore, in the initial phase, for research and development of these products. In April 2010, the company commenced commercial production of pharmaceutical formulations at the Special Economic Zone (SEZ) project, at Indore, Madhya Pradesh. This project includes facilities for the manufacture of aerosols, respules, liquid orals, pre-filled syringes (PFS), nasal sprays, large volume parenterals (LVP), eye drops, tablets and capsules. The total investment for this project is about Rs 900 crore. In May 2010, the company acquired an undertaking for Rs 30.64 crore, by way of a slump sale arrangement. The undertaking has a manufacturing facility, approved by US FDA and WHO, for APIs and intermediates. It is located at Kurkumbh (Pune district). Also, the company set up a wholly-owned subsidiary, 'Cipla Singapore Pte Ltd', in Singapore to aid logistics and distribution of the company's export business. In May 2010, the company acquired 100% shareholding of a company for Rs 51.38 crore. This company has a state-of-the-art formulations manufacturing facility at Sikkim with capabilities to manufacture tablets, capsules, oral liquids, injections, dry syrup and ointments/creams. During the year 2010-11, the company introduced a number of new drugs and formulations, such as Entavir (entecavir tablets), an antiviral for hepatitis B; Febucip (febuxostat tablets), a drug for gout; Flosoft (fluorometholone acetate ophthalmic suspension), a topical steroid for eye inflammation; Foracort (formoterol and budesonide autohaler), an asthma controller therapy in a new easy-to-use breath actuated inhaler; Furamist AZ (fluticasone furoate and azelastine hydrochloride nasal spray), a nasal spray for allergic rhinitis, and Montair FX (montelukast and fexofenadine tablets), an antiallergic combination for rhinitis. During the year, Cipla (Mauritius) Ltd, Cipla (UK) Ltd, Cipla-Oz Pty Ltd, Four M Propack Pvt Ltd, Goldencross Pharma Pvt Ltd, Medispray Laboratories Pvt Ltd, Meditab Holdings Ltd, Meditab Pharmaceuticals South Africa (Pty) Ltd, Meditab Specialities New Zealand Ltd, Meditab Specialities Pvt Ltd, Sitec Labs Pvt Ltd and STD Chemicals Ltd. The company is setting up API facilities at Bengaluru and Kurkumbh. They are also upgrading the API facilities at Patalganga. The total investment for these projects is about Rs 400 crore. The company proposes to subscribe to the share capital of two biotechnology companies, located in India and Hong Kong, to obtain a 40 per cent and a 25 per cent share, respectively. The total investment will be about USD 65 million, in a phased manner, for setting up state-of-the-art facilities for biosimilar products in Goa and China. On 3 May 2012, Cipla announced a major price reduction in selected cancer drugs. On 21st July 2012, Cipla announced collaboration with Drugs for Neglected Diseases initiative (DNDi), a not-for-profit research and development (R&D) organization, to develop and produce an improved first-line antiretroviral (ARV) combination therapy specifically adapted to meet the treatment needs of infants and toddlers living with HIV/AIDS. On 14 August 2012, Cipla announced the launch of Qvir', a novel 4 drug kit priced at Rs 158 for treating HIV/AIDS. On 8 November 2012, Cipla announced a major price reduction on select anti-cancer drugs. On 27 February 2013, Cipla announced an offer to the shareholders of Cipla Medpro South Africa Ltd. (Medpro) to acquire 100% of the ordinary share capital of Medpro for ZAR 10.0 per share via a scheme of arrangement. The Board of Directors of Medpro unanimously resolved to support and facilitate Cipla's offer and recommended to Medpro shareholders that they vote in favour of all resolutions required to implement the scheme of arrangement. Cipla Medpro South Africa is a leading provider of chronic medicines to the public and private sectors. On 16 July 2013, Cipla announced that it had completed the acquisition of 100% of the issued shares of Cipla Medpro South Africa Ltd. for an aggregate consideration of ZAR 4507mn (Rs 2707 crore). On 17 April 2013, Cipla announced the launch of the first biosimilar of Etanercept in India for the treatment of rheumatic disorders. On 20 February 2014, Cipla and MSD announced the formation of an India-specific strategic partnership whereby Cipla will have a non-exclusive license to market, promote and distribute MSD's raltegravir 400mg tablet, under a different brand name in India. The drug is used for the treatment of HIV-1 infection in adult patients as part of combination HIV therapy. On 12 May 2014, Cipla through its wholly owned subsidiary, Cipla (EU) Limited announced $21 million two-phase investment in Chase Pharmaceuticals Corporation Inc., US (Chase) to support Alzheimer's disease drug development. On 19 June 2014, Cipla announced that it has collaborated with Hetero to launch a biosimilar of the drug Darbepoetin alfa' under the brand name Actorise'. The product is indicated for the treatment of anaemia caused due to chronic kidney disease. On 7 July 2014, Cipla announced its intention to make investments of up to 100 million in its UK subsidiary over the next few years. The investment will fund the launch of a range of drugs in the areas of respiratory, oncology and antiretroviral medicines as well as research and development, clinical trials and further expansion internationally and in the UK. In its bid to enter the markets of Czech Republic and Slovaki, Cipla on 8 September 2014 announced commercial collaboration with UK-based S&D Pharma. On 15 September 2014, Cipla announced that it had signed a non-exclusive licensing agreement with Gilead Sciences, Inc. for manufacturing and distribution of Sofosbuvir mono, Ledipasvir mono, the fixed-dose combination of Ledipasvir/Sofosbuvir with each other and the combination of Sofosbuvir or Ledipasvir with other active substances, for the treatment of hepatitis C. On 18 September 2014, Cipla announced that it has granted Salix Pharmaceuticals, Inc., a US-based speciality pharmaceutical company, exclusive rights under certain patent applications in the Rifaximin Complexes' patent family controlled by Cipla. The grant is on a worldwide basis, excluding the countries of Asia (other than Japan) and Africa. On 8 October 2014, Medpro Pharmaceutica (Pty) Ltd - a subsidiary company of Cipla Medpro announced that it had entered into sales and distribution arrangement with Teva Pharmaceuticals (Pty) Ltd, an affiliate of Teva Pharmaceutical Industries Ltd (Teva) - the largest generic pharmaceutical manufacturer in the world for the territory of South Africa. As per the tie-up, Cipla Medpro, a 100% subsidiary of Cipla Limited, will exclusively market Teva's broad pharmaceutical product portfolio in South Africa. On 9 February 2015, Cipla announced that its wholly owned subsidiary, Cipla (EU) Limited, U.K. has entered into a joint venture (JV) agreement with Cipla's existing business partners in Morocco - Societe Marocaine De Cooperation Pharmaceutique (Cooper Pharma) and The Pharmaceutical Institute (PHI). This JV is aimed at strengthening Cipla's presence in Morocco, which is in-line with its global growth strategy to build front-end presence in key markets. On 13 February 2015, Cipla announced that it has been awarded USD 188.95 million of Global Fund ARV Tender for anti-retrovirals drugs. The Global Fund is a 21st- century partnership designed to accelerate the end of AIDS, tuberculosis and malaria as epidemics. On 21 July 2015, Cipla announced that its board of directors approved an investment by Fidelity Growth Partners India and US-based Fidelity Biosciences, through FIL Capital Investments (Mauritius) II Limited or its affiliates, in its newly launched consumer healthcare business which is under incorporation. On 4 September, 2015, Cipla announced that its UK arm, Cipla EU has entered into definitive agreements to acquire two US-based companies, InvaGen Pharmaceuticals Inc., and Exelan Pharmaceuticals Inc for $550 million in an all cash transaction. InvaGen Pharmaceuticals is a leading generic pharmaceutical company in the US. Exelan Pharmaceuticals is a privately held sales and marketing company, with a focus on generic pharmaceuticals for the government and institutional market in the US. On 18 February 2016, Cipla announced that its UK arm, Cipla (EU) Limited had successfully completed the acquisition of InvaGen Pharmaceuticals Inc., and Exelan Pharmaceuticals Inc. The acquisition was made by Cipla (EU) Limited through a wholly owned special purpose vehicle which would merge into InvaGen Pharmaceuticals Inc. after the acquisition. On 8 October 2015, Cipla announced that its South African subsidiary Cipla Medpro (Pty) Ltd. entered into an exclusive agreement with the world's largest vaccine manufacturer, Serum Institute of India (SII) to provide vaccines in South Africa. On 29 October 2015, Cipla announced that it had entered into a definitive agreement to sell its entire 25% stake in Biomab Holding Limited, Hong Kong (BHL) to Biomab Brilliant Limited, British Virgin Islands which holds the remaining 75% stake in BHL, for a total consideration of USD 25,775,000. Biomab Holding Limited is focused on developing Biosimilars for the Chinese market. On 21 December 2015, Cipla announced the launch of generic drug Ledipasvir-Sofosbuvir in India under the brand name Hepcvir-L. Hepcvir-L is the first once-a-day, fixed-dose oral combination therapy that has been approved for chronic hepatitis C genotype 1 patients. On 6 January 2016, BioQ Pharma Incorporated, a specialty pharmaceutical company focused on the development and commercialization of single-use, large-volume ready-to-use infusible pharmaceuticals, and Cipla announced the signing of a strategic distribution, supply and development agreement for the registration and commercialization of BioQ Pharma's Ropivacaine infusion pharmaceutical in India. On 12 October 2016, Cipla announced that it has received Establishment Inspection Report (EIR) from the US FDA for its Indore facility, indicating formal closure of the US FDA inspection conducted in July/August, 2015. On 23 November 2016, Cipla announced that Chase Pharmaceuticals Corporation, a Delaware based corporation (Chase) in which Cipla Limited's UK arm, Cipla (EU) Limited (Cipla UK) has 16.7% stake, has been acquired by a subsidiary of Allergan, plc. Allergan agreed to pay $125 million upfront plus potential regulatory and commercial milestones of up to $875 million to the shareholders of Chase. Cipla UK acquired a minority stake in Chase in May 2014 via a syndicated venture investment. On 17 February 2017, Cipla announced the launch of adult Hepatitis B vaccine in India. Under a co-exclusive agreement with Serum Institute of India Private Limited (SII), Cipla will market the vaccine for adults while SII will market it for adults and children. On 4 March 2017, Cipla announced that it had entered into agreements, through its Wholly Owned Subsidiary Inyanga Trading 386 Proprietary Limited (Inyanga), with the group companies of Ascendis Health Limited, South Africa for divesting its animal health business in South Africa and Sub-Saharan Africa. On 6 April 2017, Cipla announced that its wholly owned subsidiary in USA Cipla USA Inc. signed a worldwide licensing agreement (except for East Asia) with MEDRx Company Limited (MEDRx) to further develop and commercialize MRX-4TZT, a Tizanidine patch for the management of Spasticity. On 30 November 2017, Cipla announced that it had received an approval for its product Q-TIB from World Health Organisation (WHO). Q-TIB is a novel fixed dose combination in a single tablet. This is the first time that such a combination has been made available in the world. During FY18, Anmarat (Pty) Limited was acquired in South Africa as a part of strategy to strengthen OTC portfolio and Cipla Technologies LLC was incorporated in USA to build speciality product portfolio for Cipla. During FY18, two non-operating companies viz., Meditab Specialities New Zealand Ltd and Cipla Pharma Nigeria Ltd were deregistered. As a part of strategy, the Company has divested its entire stake in Cipla Croatia d.o.o., Croatia, Al Jabal For Drugs And Medical Appliances Company Ltd, Yemen, Cipla Agrimed Proprietary Ltd and Cipla Vet Proprietary Ltd., in South Africa. As on 31st March, 2018, it has 49 subsidiaries and 1 associate. During the FY18,the company invested Rs 816 crore on capital expenditure, over Rs 300 crore lower than the previous year. During the FY19, Madison Pharmaceuticals Inc. was incorporated in USA and Cipla Gulf FZ- LLC in Dubai for strengthening its business operations. In South Africa, Mirren (Pty) Limited was acquired as a part of strategy to strengthen its OTC portfolio. In USA, 33.3% stake was acquired in Avenue Therapeutics Inc. for building specialty business in USA. The Company's wholly owned subsidiary Goldencross Pharma Private Limited acquired minority stake i.e. 11.71% in Wellthy Therapeutics Private Limited. During the 2018-19, 4 non-operating subsidiaries viz. Xeragen Laboratories (Pty) Limited, Galilee Marketing (Pty) Ltd, Med Man Care (Pty) Ltd in South Africa and Cipla FZE in Dubai were liquidated. The company had 48 subsidiaries and 2 associates as on 31st March, 2019. During the FY2019, the Company invested Rs 504 crore in capital expenditure (net off sales proceeds), which is lower by Rs 200 crore from the previous year. During the FY2020, Incorporation of Cipla Pharmaceuticals Limited in India for setting up facilities for DPI dosage and for further expansion of MDI and FFS Respule Dosage, Cipla (Colombia) SAS in Colombia and Cipla (China) Pharmaceutical Co. Limited in China for strengthening its business portfolio in foreign markets. Also incorporation of Cipla (Jiangsu) Pharmaceutical Co, Limited as Joint venture between Cipla (EU) Limited and Jiangsu Acebright Pharmaceutical Co. Limited for exploring business opportunities and manufacture of pharmaceutical products in China. The company also acquired the remaining 40% stake in Cipla Pharma Lanka Private Limited (CPL) by Cipla (EU) Limited, to further strengthen its presence in Sri Lanka. Upon acquisition CPL has become a wholly owned subsidiary of Cipla (EU) Limited. Also acquired 30% stake in Brandmed (Pty) Limited by Cipla Medpro South Africa (Pty) Limited to enhance its diversified portfolio in the noncommunicable diseases area. The company also acquired 26% stake in AMPSolar Power Systems Private Limited to enhance the proportion of renewable (solar) based power consumption, and to comply with regulatory requirement for captive power consumption under electricity laws. The company also liquidated Tasfiye Halinde Cipla ila Ticaret Anonim Sirketi, Turkey. The company had 51 subsidiaries and 4 associates as on 31st March, 2020. Cipla won the Digital Supply Chain Enterprise Award' at the 9th edition of the Manufacturing Supply Chain Awards 2020. During the FY2021, The Group has divested its stake in two of its subsidiaries namely Quality Chemical Limited (Group share - 51.18%) and Anmarat Proprietary Limited (wholly owned subsidiary). The Board in its meeting held on 29th January, 2021 has approved a draft scheme of arrangement (Scheme) which entails demerger of the US business undertaking (Demerged Undertaking 1) of Cipla Limited (Demerged Company) into its wholly-owned subsidiary, Cipla BioTec Limited (Resulting Company 1) and consumer business undertaking (Demerged Undertaking 2) of Cipla Limited into its wholly-owned subsidiary, Cipla Health Limited (Resulting Company 2) pursuant to Sections 230 to 232 and the other relevant provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The said Scheme would be subject to the receipt of requisite approvals including from the National Company Law Tribunal, BSE Limited, National Stock Exchange of India Limited and Securities and Exchange Board of India, the shareholders and/or creditors of the Demerged Company, Resulting Company 1 and Resulting Company 2. On 30th March 2021, the Company made a strategic investment of Rs 40 Crore in ABCD Technologies LLP. On 3rd May, 2021, GoApptiv Private Limited, existing associate of Cipla, incorporated wholly-owned subsidiary - Iconphygital Private Limited for providing manpower staffing services. On 10th May, 2021, Cipla Technologies LLC (Ciptec'), a subsidiary of the Group has received an anticipatory material breach notice under Development and Commercialization Agreement with Pulmatrix on co-development of Pulmazole. The Company will suitably respond to the said notice. Inyanga Trading 386 (Pty) Limited was voluntarily deregistered /dissolved as wholly-owned step down subsidiary as was operationally inactive and not required effective from 10th December, 2021. As on 31 March 2021,the company had 55 subsidiaries and 5 associate companies under its roof. In FY'22, the Company launched multiple respiratory products in Spain, including Fluticasone MDI, Fluticasone + Salmeterol MDI and Ipratropium MDI, through its recently established front-end presence. More than 55,000 patients were trained as a part of the digital programme that provides live video counselling to patients on the right technique of inhalers and other devices, such as nebulisers and nasal spray, etc. It launched India's first pneumotach based portable, wireless Spirometer, on World COPD Day. It received approval for Lanreotide injection based on a New Drug Application submitted under the 505(b)(2) filing pathway. It also received approval of its Abbreviated New Drug Application (ANDA) for Lanthanum Carbonate Chewable Tablets, 500 mg, 750 mg and 1000 mg. It received USFDA approval for generic therapeutic equivalent version of Sunovion Pharmaceuticals Inc.'s [email protected] (Arformoterol Tartrate). It launched [email protected], India's first pneumotech-based wireless, portable device capable of performing lung function tests outdoors and in remote areas, for better diagnosis of people with chronic obstructive pulmonary disease (COPD) and asthma. During FY'22, Company evaluated 40+ anti-infective medicines, of which five anti-infective medicines are being selected for launch in India in the coming four to five years. It extended the coverage of last year initiatives of Internet of Things (IoT), and Modelling & Simulation (M&S). IoT was implemented for critical laboratory instruments such as chormatography and particle size analyser. M&S was initiated in the formulation R&D centre at Vikhroli to help in reduction of product development cycle time. Robotic Process Automation (RPA) and Artificial Intelligence (AI) were implemented for searching custom based targeted information in the regulatory space. This not only saved manual search time, but helped to stay ahead of the curve in obtaining almost real time information published by various authorities. It collaborated with renowned companies and academic institutions to enhance R&D capabilities specially in the science frontier for computational methods of assessing dry powder inhaler performance for Cipla assets and develop new platform technologies for anti-cancer agents and skin treatments. The Company augmented R&D capabilities by partnering with renowned government institutions such as the Indian Institute of Science Education and Research, National Chemical Laboratory, Raja Ramanna Centre for Advanced Technology for solid state studies, novel polymorph and peptide characterization. In FY 2022, Cipla signed a joint venture agreement with Kemwell Biopharma Private Limited to develop, manufacture and commercialize biosimilars with focus on respiratory therapy. It established nearly 25,000 sq. ft. facility in Fall River Industrial Park, US extending Cipla's respiratory manufacturing footprint. In FY 2021-22, the Company received an approval for the first 505b2 version of lanreotide injection. It continued R&D investments for the US market, which has resulted in pipeline expansion to include multiple differentiated assets. It filed 11 ANDAs and received 9 final approvals (including conversion from tentative approval to final approval). These include ANDAs owned by Cipla and InvaGen Pharmaceuticals Inc. only. During the year 2022, the Company acquired 32.49% stake in AMP Energy Green Eleven Private Limited and 33% partnership interest in Clean Max Auriga Power LLP, to enhance the share of renewable power source in its operation and comply with regulatory requirement for being a captive user under Indian electricity laws. Cipla Digital Health Limited was incorporated as a wholly owned subsidiary of the Company on 25th February, 2022 for creation of patient-facing Digital Therapeutics platform. Cipla Biotec South Africa (Pty) Limited, was voluntarily deregistered /dissolved as wholly-owned step down subsidiary as was operationally inactive and not required with effect from 3rd February, 2022. Read More