By Rishika Sadam and Kashish Tandon
BENGALURU: Cipla is ready to partner with US drugmaker Eli Lilly to market its blockbuster obesity treatment drugs in India, the company’s CEO said on Friday.
“Absolutely and always open… We value our partnership with Lilly very much and I think the two companies are culturally connected,” Cipla’s global CEO Umang Vohra said in response to a question from Reuters.
Global demand has outstripped supply for Lilly’s Monjaro and Zepbound as well as Danish rival Novo NordiskWegovi and Ozempic. They belong to a medical field GLP-1 receptor agonistDeveloped to control blood sugar in patients with type 2 diabetes, but has gained popularity for its role in weight loss,
Sensing the market opportunity, Indian pharmaceutical manufacturersIncluding Cipla, are working to develop copycat versions weight loss drugs To aggressively capture larger market share in the world’s most populous country.
Lilly told Reuters in February that it expected to launch its blockbuster diabetes drug and wildly popular obesity treatment Monzaro in India early next year.
Cipla, India’s third-largest drugmaker by sales, has an existing partnership with Lilly to sell and promote it. diabetes medicines in India.
“We now have a very good relationship with Lilly on the insulin range that we sell for them,” Vohra said. He said that the company is preparing for new launches in America, India and South Africa this year.
Meanwhile, Cipla’s fourth quarter revenue 61.63 billion rupees ($738.4 million) per LSEG missed analysts’ expectations of 22.41 billion rupees, sending its shares down 3.1 percent. They pared some losses and were down 1.6 percent.
“Revenue fell short of consensus primarily due to weakness in the Indian consumer business,” said Shrikant Akolkar, analyst at Nuvama Institutional Equities.
The company said net profit rose 78.5 percent to Rs 9.39 billion, beating analysts’ estimates of Rs 8.11 billion.
($1 = 83.4690 Indian rupees) (Reporting by Rishika Sadam and Kashish Tandon in Bengaluru; Editing by Sonia Cheema)
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