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Chairman's Speech (Cipla) Year : Mar '19

Dear Shareholders,

Healthcare management is about combining business with a humanitarian outlook. Our pharmaceutical industry’s prime role is to save and improve the quality of patients’ lives. We are the custodians of healthcare and this is our key responsibility. Cipla follows this principle, apart from achieving our business objectives. Cipla believes that access to medicines at affordable prices is a fundamental human right and that none should be denied medication, not only in India, but globally.

The pharma industry is different from other industries for two major reasons. Firstly, monopoly arising out of intellectual property rights, which gives exclusivity and secondly, the high rate of obsolescence of drugs. Newer medications have to be continuously innovated to enable long term progress.

The global pharma approach is to concentrate and focus essentially on newer drugs, future pipeline and product portfolios, R&D and innovation. Within this framework, we in Cipla believe in the adaptation of appropriate innovative technologies which can improve and facilitate healthcare in India.

Cipla started as an indigenous enterprise in 1935, committed to India’s quest for self-sufficiency in healthcare. Today, Cipla is a leading worldwide generic pharmaceutical company witRs46 state of the art manufacturing facilities and supplies quality medicines to over 80 markets globally. Cipla started large scale manufacture of active pharmaceutical ingredients way back in the early 1960s and developed important life-saving formulations and devices based on this, and covering many key therapies. We are currently ranked among the 15 leading global generic drug producers. Cipla is now well positioned to extend its expertise from general generics to more complex generics and niche specialty products.

In our overall R&D programme, we are closely monitoring the repurposing and repositioning of existing drugs. This interesting area of research includes prodrugs, metabolites, liposomal drugs, nano-particles, enhancers, boosters, co-crystals, chiral drugs, new polymorphs, new fixed dose combinations, newer indications, newer delivery systems and newer routes of drug administration. Again, the ultimate objective is to develop products for faster regulatory approvals in niche markets. A major example of this was in the area of HIV/ AIDS. Cipla introduced for the first time in the world, a unique fixed dose combination of three antiretroviral drugs under the name Triomune. This repositioned drug saved millions of lives during the first decade of the current century. It is a testament to the immense potential this R&D holds for the continuing progress of our Company.

Today India is regarded as the Pharmacy capital of the world. The Indian pharma industry sales were valued at -billion in 2017 and are on course to touch -billion by 2020. India is the largest provider of generic drugs globally and the Indian pharma industry supplies 40% of the generic drug demand in the US. Exports of the Indian pharma sector are estimated to exceed -billion by 2020. India supplies well over 80% by volume of all the HIV/AIDS drugs internationally. However, of the seven billion people living on our planet, the overwhelming majority of 6.2 billion live in the emerging and developing world. Proper healthcare is only guaranteed to approximately 10% of the world’s population. The right to live should not be contingent on the ability to treat. We need to provide affordable essential drugs to safeguard a stable and healthy India. No one in our country should suffer because they cannot afford medicines, diagnostics, medical devices or vaccines. India should also extend help in this area to other countries, particularly in Africa.

Given its population and disease burden, basic healthcare in India will always require urgent attention, alongside advancements and newer technologies. It is therefore all-important that government policies and strategies are formulated to cover our present basic needs and requirements of the country. India should formulate legislation on healthcare to suit the specific needs of the indigenous pharma industry as also the healthcare required in the country. An increase in the Government’s public healthcare expenditure is the need of the hour. We want all our countrymen to lead productive lives in good health, thereby promoting the well-being of our country. To this end, the flagship national health cover scheme of the Government is a very promising initiative. We should all work together to solve healthcare issues using appropriate technology and advanced science. This will enable us to fulfil our dream of a productive and progressive India.

As always, my sincere gratitude to all our stakeholders for your partnership in this journey of ‘Caring for Life’. Your Cipla Board and leadership remain committed to our purpose, even as we work towards creating and delivering value.

Warm Regards,

Y.K. Hamied

Source : Dion Global Solutions Limited
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