Home / Companies / Company Results /  Cipla Q2 net up 11% as new drug launch lifts US sales

Cipla reported an 11% jump in fiscal second quarter net profit boosted by a strong show in the US and supported by decent domestic performance.

Net profit rose to 789 crore in the three months ended 30 September, topping the 775 crore consensus analysts’ estimate in a Bloomberg survey.

Sales in North America contributed a fourth of overall sales and grew 35% from a year earlier. The company attributed this to the successful launch of myeloma treatment drug Lenalidomide (Revlimid generics) and continued market share expansion in Lanreotide 505b2, used for treating growth hormonal disorders.

In constant currency terms, Cipla posted a multi-quarter high revenue of $179 million in North America, up 25% from a year earlier. It said that it expects to maintain the quarterly revenue run rate at $175-180 million.

The company has lined up large respiratory product launches such as the generic Advair inhaler for the fiscal second half. Chemotherapy drug Ambraxane generics will also be introduced in the first half of 2023. However, this will depend on the regulatory clearance of its Goa unit by the US drug regulator.

Indian formulation sales remain key for Cipla and domestic market sales contributed 44% to overall sales, and grew 6.1% on a very high base of last year, the company said.

ABOUT THE AUTHOR

Ujjval Jauhari

Ujjval Jauhari is a deputy editor at Mint, with over a decade of experience in newspapers and digital news platforms. He is skilled in storytelling, reporting, analysing and writing about stocks, investment ideas, markets, corporates and more. He is based in New Delhi.
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