Cipla is set to enter a new era as Achin Gupta takes over as Managing Director and Global CEO from April 1, 2026, following a decade-long tenure by Umang Vohra that saw the company’s revenue and market cap more than double. Gupta, currently the Global Chief Operating Officer, will serve as MD and Global CEO-designate, starting January 1, 2026.
Under Vohra’s leadership (2016–2025), Cipla’s consolidated net sales grew from Rs 11,345 crore in FY15 to Rs 27,548 crore in FY25, clocking a compound annual growth rate (CAGR) of 9.2 percent. The company’s market capitalisation surged nearly 2.8 times—from Rs.45,700 crore in 2016 to Rs 1.27 lakh crore, as of October 2025. Operating margins also improved significantly, with EBITDA (Earnings before interest, taxes, depreciation and amortisation) margins rising from mid-teens to sustained mid-20 percent levels. Cipla now sits on a cash pile of Rs 10,000 crore.
Reflecting on his tenure in a recent media call, Vohra said: “The task I had set out to do through my two terms is achieved. Cipla is now in good hands.”
He acknowledged that while Cipla has made strides in generics and chronic therapies, the next phase of growth will require deeper investments in innovation.
“Cipla must become an innovation player over the next 5–7 years and stronger and bigger than where it is today in terms of the innovation journey,” he added.
Gupta, the Mr Cool
Gupta, who joined Cipla in 2021 as CEO of the One India business, played a pivotal role in driving growth in chronic therapies, expanding reach in underserved geographies, and modernising the retail force. His elevation as Global COO in February 2025 saw him take charge of commercial markets, APIs (active pharmaceutical ingredients), manufacturing, and supply chain.
A senior executive who worked closely with Gupta described him as “calm, cool and composed. No one can say a bad word about him. He has done well in all spheres.”
The executive added that Gupta is no stranger to innovation and licensing deals.
“In fact, in his previous company, he led an out-licensing deal with Sanofi for development and commercialisation of a novel monoclonal antibody,” he said.
Gupta inherits a company with a strong balance sheet but faces the challenge of transforming the 90-year-old generics giant into an innovation-led pharmaceutical player.
“It all depends on strategic direction of the promoters and the board,” the executive noted.
Cipla has already dipped its toes into innovation through a collaborative approach. It attempted to acquire Avenue Therapeutics for $215 million to gain access to IV Tramadol for pain management, but the deal fell through due to regulatory hurdles. The company has also made smaller investments and partnerships with Kemwell Biopharma (biologics), Stempeutics (stem cell therapies), and Germany-based Ethris GmbH (mRNA-based respiratory therapies).
Vishal Manchanda, Pharma Analyst and Senior Vice President at Systemix Group, said: “There are no low-hanging fruits left for Gupta. Vohra has optimised operations at Cipla, created focus on what to do and what not to do.”
He added: “In generics, there is limited headroom for growth, maybe 8–9 percent at the company level, but growing beyond that would require innovation.”
Manchanda also cautioned about the risks of innovation-led growth:
“Cipla generates Rs. 5,000–5,500 crore of EBITDA, ex-Revlimid. Investors won't appreciate diluting profitability for chasing innovation, which takes time and pain, so large M&A innovation deals have to be there. It's not easy, as good assets don’t come cheap.”
Spotlight on key businesses
Under Gupta’s leadership, Cipla’s domestic business saw strong growth in chronic therapies like respiratory, cardiac, and anti-diabetics segments. The company also expanded its footprint in Tier 2 and Tier 3 towns through trade generics and digitised its field force to improve doctor engagement and prescription generation.
A long-standing pillar of Cipla’s portfolio, the respiratory segment continues to be a growth engine, especially in India and South Africa, while the US remains a key market, contributing significantly to Cipla’s revenues. The company has focused on complex generics and respiratory products, including albuterol inhalers and generic Advair. However, pricing pressure and regulatory hurdles remain challenges.
“Gupta’s track record in operational excellence and strategic partnerships will be closely watched as he charts the company’s next phase of growth,” the executive cited above said.
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