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Vohra was the second executive roped in from outside Cipla’s promoter family to lead the drug maker. Under his watch, Cipla saw a sharp improvement in profitability, driven by strategic expansion in chronic therapies, operational efficiencies and global partnerships.
In an exclusive interview with CNBC-TV18, Umang Vohra said that the pharma major is looking at China, Brazil, South Africa, and Australia as key markets, apart from India
In the last financial year, the company had filed 32 abbreviated new drug applications (ANDAs) in the US.
The company's wholly owned subsidiary, "Cipla USA Inc has signed a worldwide licensing agreement (except for East Asia) with MEDRx Company Ltd to further develop and commercialise MRX-4TZT, a Tizanidine1 patch for the management of spasticity", Cipla said in a filing to BSE.
Cipla has made many changes to its top leadership as it tries to catch up with other larger Indian generic rivals like Sun Pharma, Dr.Reddy‘s, Lupin and Aurobindo in the US market who generate half their sales at much higher margins.
Umang Vohra of Cipla reasoned that almost 80 percent of the drugs sold by Cipla in the US market are manufactured in the US itself. He said it will not be a challenge to manufacture all its supplies in the US itself if asked to do so by authorities.
Faced with increasing regulatory scrutiny -- Indian drug makers working more closely then ever before on Friday said they have been investing on automation, simplifying and standardizing systems and working on building culture of compliance within their organizations -- as they don‘t want to be seen as outliers in terms of regulatory compliance.
Cipla is now concentrating on specific areas for growth. In emerging markets, Brazil and China are its priority markets, where measured approach will be taken, Umang Vohra, Managing Director of the company.
Cipla will be falling back on its core strengths in respiratory and central nervous system (CNS) for build-up of specialty pipeline in US. The company has also indicated that it is not going to shy-away if there are any in-licensing opportunities on offer.
Healthcare company Cipla reported a stead set of earnings in the quarter ended December 2017. Profit grew by 43.9 percent year-on-year to Rs 375 crore from Rs 260.6 crore in year-ago period, driven by strong operational performance.
India's third largest pharmaceutical company Cipla is targeting 10-12 percent growth in the domestic market in next two to three years, its newly elected Managing Director and Global Chief Executive Umang Vohra said.
Until recently, Kedar was Vice President, Global Generics Finance and Head of Investor Relations in Dr Reddy's Laboratories, Cipla said in a statement.
In an interview with CNBC-TV18, Umang Vohra, COO of Cipla said that the company‘s current growth guidance did not include this merger and it will be a part of it in the next fiscal.
Y KHamied (80), who is the Non-Executive Chairman of the company, has acquired 5.22 percent additional stake from his wife Farida Hamied, thereby taking his total holding in the drug firm to 20.76 percent from earlier stake of 15.54 percent, Cipla said in a regulatory filing.
Alok Sonig replaces Umang Vohra, who is moving out of the organisation and has consequently stepped down from the position, Dr Reddy's Laboratories said in a filing to the BSE.
