India’s Cipla defeated the profit view of the third quarter, because strong domestic demand offset the weak sales in the United States

Author Rishika Sadam and Kashish Tandon

Haidraba/Bangalore (Reuters) -Cipla is one of the largest pharmaceutical manufacturers in India and has the largest sales. It reported on Tuesday the third quarter profit that exceeded expected, which is helpful to the strong domestic demand. Frozen assistance to certain drug plans will not damage some of its drug results.

According to data compiled by LSEG, the company’s consolidated net profit increased by nearly 49 % from October to December to 15.71 billion rupees (US $ 181.6 billion), which defeated analysts for Rs 12.12 billion.

The revenue of major Indian markets increased by 10 % to 31.46 billion rupees, which is helpful for the treatment of drugs for the treatment of respiratory and urological diseases.

This is far more than the second largest market in CIPLA, which has decreased by 1 %, and helped the company’s total revenue rise by 7.1 % to 70.73 billion rupees, more than 69.51 billion rupees.

These US sales are usually driven by Lanreotide, the second largest income generator tumor drug in Cipla. However, the company warned in October that certain supply chain issues related to the drug will continue until the fourth quarter.

UMANG VOHRA, the world’s chief executive, said in a phone call: “Because of the supply of Lanreotide, the United States is frank. If we adjust these supply problems, the United States will also have demand.”

In the past two days, Indian Pharmaceutical Stocks have been worried about the suspension of foreign aid, including the PEPFAR.

However, Vohra said that CIPLA of 25 AIDS drugs approved by Pepfar should not see a great impact.

“PEPFAR is not an important part of our business. The Pepfar products sold by Cipla are not profitable.”

As a result, the company’s stock rose by 3 %, offset the decrease of 1 % after the US fund pause. However, the pharmaceutical index has fallen by 5 % since movement.

The suspension of US funds is an additional headache for ordinary pharmaceuticals in India, because with the consent of lower pricing, fierce competition and delayed approval of new drug applications, it has worked hard to slow down the sales of the United States. ($ 1 = 86.5325 Indian rupee)

(Rishika Sadam’s report in Headraba and Kashish Tandon in Bangalore; Eileen Soreng, Mrigank Dhaniwala and Savio D’Souza) edit) edit)