In an interview to ET, Cipla’s global chief financial officer, Kedar Upadhye, said the company will reach the $1 billion milestone despite a 60% drop in sales of Covid-19 therapies in the second quarter of the ongoing fiscal 2022.
“Sustained momentum across core therapies, consistent execution of marketing and new launches are driving growth,” Upadhye said.
Upadhye said the strategic partnership with US drug maker Eli Lilly for diabetic products such as Humalog (human insulin) and Trulicity (insulin analogue) is expected to contribute meaningfully going forward.
According to data sciences company IQVIA, for the year ended September 2021, Cipla was the India market leader in respiratory with a 23.1% share and urology with 14.6%.
The company has a 7.5% share in both anti-infective and cardiac segments, and is ranked third and fifth, respectively.
Cipla’s branded generics business reported sales of around ₹6,000 crore in FY21. The drug maker’s India business, which consists of prescription, trade generics and consumer health divisions, generated sales of ₹5,126 crore in the first half of this fiscal year, compared with ₹3,698 crore in H1FY21, an increase of 39%.
The prescription business contributes about 80% of Cipla’s India sales. About 40% of Cipla’s revenue in FY21 of ₹19,160 crore came from India, making it the largest market.
Cipla last year rejigged its business operations, integrating its prescription, trade generics and consumer health businesses under a single capital allocation framework. The company is calling the integration of three businesses as ‘One-India’ initiative. It said the new structure will unlock synergies across portfolio, distribution and consumer-focused initiatives.
