Mint Exclusive: Cipla MD Vohra likely to step down, COO Achin Gupta may take over
India’s third-largest drugmaker is headed for a top-level shake-up, with CEO Umang Vohra set to move out by March 2026 and COO Achin Gupta emerging as his likely successor.
India’s third largest drugmaker is headed for a management shuffle. Nearly a decade since he took on the position, Cipla’s managing director and global chief executive officer Umang Vohra, 54, is preparing to move out of the role by the end of this fiscal year, according to multiple people aware of the development.
Achin Gupta, currently Cipla’s global chief operating officer, is likely to succeed him, the people said, requesting anonymity.
“Achin Gupta was brought in to head the India business and has been groomed for the last few years. Gupta is expected to take over Vohra's role within a year’s time, likely by March 2026," said an industry executive aware of the development. Two other industry executives also confirmed the development.
Multiple queries sent to Cipla, Umang Vohra, and Achin Gupta on Saturday remained unanswered until the time of publishing.
End of tenure
Vohra is expected to step down from his role as the company’s MD and global CEO at the end of March 2026, when his tenure ends, according to sources. The top executive had been re-appointed for a period of five years in March 2021.
Cipla’s shuffle comes at a time when rival Sun Pharma is undergoing a long-term, structured succession planning, with professionals at the helm, even as the next generation is being groomed to take over.
Vohra was re-appointed as a director by the board of the Mumbai-headquartered firm at their annual general meeting this year. It is yet not known whether he will stay on at the company in a non-operational capacity.
Vohra’s decade at Cipla
Vohra joined Cipla in October 2015 as global CFO after more than 13 years at Dr Reddy’s Laboratories. Between January and August 2016, he was Cipla’s global COO before being elevated to MD and global CEO, a role he has held since.
He was brought on board during a period of leadership flux. In 2015, heir-apparent Kamil Hamied—nephew of Cipla doyen Dr Y.K. Hamied—stepped down as chief strategy officer to pursue personal interests, even as the company underwent a top management reshuffle under then CEO Subhanu Saxena.
In July 2024, Vohra told The Hindu BusinessLine that Cipla had “completely professionalised" in the last decade.
Last year, Cipla’s promoter family saw a shuffle as well, amid rumours of a potential stake sale. In September 2024, Kamil Hamied re-entered the scene after nine years, joining the board as a non-executive director. At the same time, his father, M.K. Hamied (85), announced his departure, citing health and age.
His daughter Samina Hamied also stepped down as Cipla’s executive vice-chairperson on 31 March 2024 citing “personal and family commitments". In a letter to the board, M.K. Hamied wrote “I am pleased to see that Kamil Hamied will be joining the board as a non-executive director to maintain continuity while representing the promoter family".
The potential successor
Achin Gupta, whose previous stint was at Glenmark Pharmaceuticals, joined Cipla in 2021 as CEO of its One India business. In February this year, Gupta was elevated to Global COO.
Gupta has led the successful growth and transformation of the company’s One India business with double digit revenue growth and profitability outperforming the Indian pharmaceutical market, according to a company filing announcing his elevation this year.
“This has been driven by deepening presence in chronic therapies, expansion into Tier 2-6 geographies, establishing category leadership in Wellness brands & building a future-fit trade generics business with direct customer reach," it stated, adding that Gupta had also driven strategic partnerships with MNCs, positioning Cipla as a preferred partner for in-licensing deals.
Resilient business strategy
In Q1FY26, Cipla faced price erosion in its US generics portfolio but offset this through new launches such as cancer drug Abraxane. The management has guided for US revenues of $1 billion by FY27, even as its blockbuster cancer drug Revlimid faces a steep fall in exclusivity next year.
Analysts remain optimistic about Cipla’s resilience in the US market.
“We expect Cipla to maintain its existing US sales run-rate. This will be aided by several high value niche launches in the US like gAbraxane, Nilotininb, gAdvair. Further, Cipla’s strong net cash position of over $1.5 billion provides flexibility to pursue strategic M&A opportunities," PL Capital analysts said in a 27 July note.
“They have been very disciplined with their capital allocation. They are choosing acquisitions in segments where they have an opportunity to leverage their strengths for a scale up, while they are carving partnerships in areas where they foresee meaningful risks. Even from a manufacturing capacity investment, they have built a fair mix of outsourcing, which ensures resilience in volatile times," said Vishal Manchanda, pharma analyst and senior vice president of institutional research at Systematix Group.
“While there is overall pricing pressure in the US generics market, Cipla’s US business is going to be more durable, and they could do relatively better, given their respiratory pipeline that is going to pan out over the next two years. Respiratory products are more durable, in the sense that if you get an approval, the product will contribute meaningfully to the business for five to six years," Manchanda added.
Back home, Cipla has also stepped up its focus on the India business. “India is definitely something that they are focusing more on. They know that is where they need to strengthen their presence because the growth is here," said Manchanda.
In Q1FY26, new launches and key therapies supported Cipla’s India growth. “Respiratory and anti-infectives segment impacted growth in Rx (prescription) segment however Cipla continued to outperform market," analysts at PL Capital noted.
Market standing
Cipla has a market capitalisation of ₹1.27 trillion, making it the third largest pharma company in India by market cap after Sun Pharma and Divi's Laboratories.
In the first quarter of this fiscal year, Cipla's consolidated revenue increased 4% year-on-year to ₹6,957 crore, missing Bloomberg estimates. Its profit after tax beat estimates at ₹1,298 crore, up 10% year-on-year.
The company reported an Ebitda of ₹1,778 crore, up 4% on-year, with its Ebitda margin remaining steady on-year at 25.6%. Ebitda stands for earnings before interest, taxes, depreciation, and amortisation.
Cipla shares closed 2.14% at ₹1,542.00 each on NSE on Monday, while the Nifty 50 was down 0.06%.
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