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Cipla Chairman's Speech > Engineering - Heavy > Chairman's Speech from Cipla - BSE: 500087, NSE: CIPLA


BSE: 500087|NSE: CIPLA|ISIN: INE059A01026|SECTOR: Pharmaceuticals
May 17, 16:00
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Mar 17
Chairman's Speech (Cipla) Year : Mar '18

Dear Shareholders,

It has been an eventful year for the pharma industry, both in India and internationally. Cipla has had a good year, as is reflected in this Annual Report.

Continuity and Change

Over the past 58 years, I have seen the Indian pharma industry go through many diverse changes, particularly in India. In the pre-1972 period, we were under a restrictive patent regime. Subsequently, the indigenous pharma industry went through a golden era till 2005.

In recent years, there has been a major shift in the working of the industry. This has involved many joint ventures, partnerships, in and out licensing, mergers and acquisitions. Overall, there has been considerable consolidation.

Cipla has very much been a part of this constantly-evolving pharma landscape. Around the mid-1990s, our domestic revenue was around 90% of our sales, and today it is 39%. This shift in our business profile has been necessary, and we now partner many companies globally. The process of professionalisation of our management is now complete, and we have expanded to become a truly international pharmaceutical company.

We have come a long way over the past 82 years.

All of us, shareholders of Cipla, should be proud of what our company has achieved. However, one important aspect has remained unchanged. This is our commitment to access to medicines at affordable prices, and hence our continued support to patients thereby saving lives. Cipla has developed many newer business strategies to improve its portfolio. You can rest assured that we will do whatever is required to ensure our unwavering commitment to patients in need.

Our Work Beyond Numbers

Just as the pharma industry responds to change, so also should governments around the world. Debates around drug pricing, intellectual property, the Goods and Services Tax in India, the National Health Protection Mission, and price erosion in the US, have been in the news. Cipla is closely monitoring ongoing developments and will contribute in every possible way to improvement in healthcare.

It is in this overall scenario that we must carefully study the credibility and sustainability of our Company. A few years ago, we had planned that 2017 would be a year of streamlining Cipla’s business model and identifying our core businesses and strengths. We then planned for 2018 to be a year of consolidation. From 2019 onwards, we believe that we can capitalise on the core foundation that we have built on. I am happy to see that we are on track. Many strategic decisions taken over the past few years are coming to fruition.

I am particularly pleased that our emphasis on R&D continues unabated. We have now developed a unique breath-actuated inhaler with a dose counter called Synchrobreathe for the benefit of asthma patients. Cipla is gradually building its respiratory franchise in regulated markets. We have targeted a major expansion of our presence in the USA. It has involved many generic drug filings and this momentum will continue. Along with this, we plan to expand beyond generics into selected and niche Specialty products.

Apart from this, the Cipla Global Access program is very special for the company as this involves business with a humanitarian vision. Your Company received the world’s first WHO approval for its product Q-TIB, a prophylaxis against TB in HIV/AIDS patients. PEPFAR has approved our product lopinavir/ritonavir oral pellets for paediatric use in HIV/AIDS. For malaria, Cipla has introduced its rectal artesunate suppository to be administered to children in emergency situations. As a scientist first and foremost, to me, the above captures the essence of our theme in this report -innovation for the benefit of patients.

The Cipla Palliative Care Centre in Pune has now completed 20 years of service to terminally ill cancer patients, and over 14,000 patients have been cared for. I am certainly happy that the company continues to follow this path of community and social support.

What Next for Pharma

Healthcare and disease patterns around the world are changing - non-communicable and lifestyle diseases are now increasingly taking centre-stage in disease burden studies. You will be interested to know that Cipla is committed and fully associated with the next major medical hurdle facing the world, namely Anti-Microbial Resistance (AMR). This involves a major thrust to control the misuse and overuse of antibiotics. Immuno-therapy, stem-cell technology, biological and vaccine products, diagnostics, telemedicine, digitalisation and artificial intelligence, are all areas that will define us as an industry in the next twenty years. The pharma industry is in so many ways a custodian of the healthcare needs of the world, and your Company will do whatever best possible for healthcare in the years ahead.

As always, my heartfelt thanks to all of you for your faith and trust in us. Your Board and Management Council will continue to ensure that our purpose of ‘Caring for Life’ continues to underpin our business even as we deliver value.

Warm Regards,

Y.K. Hamied

Source : Dion Global Solutions Limited
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