New Delhi: Pharmaceutical firm Cipla Ltd has entered into an agreement with Biopharm SPA to form a joint venture company in Algeria to manufacture and market respiratory products, the company said Friday.
In a BSE filing, Cipla said: "A binding term sheet has been entered into with the company's existing partner, Biopharm SPA, for establishing a joint venture (JV) company in Algeria."
"The JV company will manufacture and market respiratory products facilitating Cipla's front-end presence in Algeria," it added.
As per the agreement, Cipla's wholly owned subsidiary, Cipla (EU) Ltd, will hold a 40 percent stake in the JV company while the remainder will be held by a Biopharm-led Algerian consortium.
New Delhi: Adil Zainulbhai has been appointed as independent director on the board of drug major Cipla, the company said on Friday.
Commenting on the development, Cipla Chairman Y K Hamied said: "Adil's 30 plus years of experience across various industries in India and globally will add a valuable perspective to our Board of Directors."
Zainulbhai retired as Chairman of McKinsey India.
Earlier, he spent 24 years in the US where he led McKinsey's Washington Office and founded the Minneapolis office before returning to India.
New Delhi: Continuing its overseas acquisitions, pharma major Cipla has inked a pact with a Yemeni firm to acquire its majority stake for USD 21 million (over Rs 125 crore).
The company has signed a definitive agreement to acquire a 51 percent stake in a pharmaceuticals manufacturing and distribution business in Yemen, it added.
"The company will pay USD 21 million for this transaction, with additional considerations to be paid over the next 3 years on achievement of agreed milestones," Cipla said.
Mumbai, May 12 : Healthcare company Cipla Monday said it has invested $21 million in US-based Chase Pharmaceuticals Corporation Inc through its wholly owned subsidiary, Britain-based Cipla (EU) Limited, to develop a drug for Alzheimer's disease.
Based in Washington, Chase is an early stage drug development company focused on developing novel approaches to improve treatments for Alzheimer's disease. It has a unique patented approach and is focused on improving the efficacy, safety and tolerability of existing Alzheimer medications.
New Delhi, May 3 : India can be a global leader in supplying affordable and high quality medicines to the world, and especially to the underdeveloped countries where such medicines do not reach the poor because of their high cost and the monopoly of foreign manufacturers, said a leading entrepreneur.
"India has emerged as the pharmacy of the world," said Yousuf Hamied, chairman of pharmaceutical giant Cipla.
Stock in Cipla Ltd plunged more than 5 per cent in morning trade on Thursday after the drug giant announced that it suffered a decline of 16.5 per cent profit in the three months ended December 31, 2013.
Cipla announced that its net profit slipped to Rs 284.31 crore in thee October-December quarter of current financial year, from Rs 340.31 crore in the corresponding quarter of the previous financial year.
India's second-largest drugmaker, Cipla has said that it has decided to delay its plans to take over Cipla Medpro, which is the third largest South African drugmaker, due to high valuations.
Cipla had announced its plans in November to acquire 51 per cent stake in Medpro with an objective of establishing itself in the African market. The company's $220-million acquisition plan has now been delayed because the company believes that the current valuations are high.
Pharmaceutical giant Cipla Ltd has offered to acquire a majority stake in its South African distributor called Cipla Medpro.
Cipla has offered to acquire 51 per cent stake in Cipla Medpro for Rand 8.55 per share, which values the deal at Rs 1,210 crore at the current exchange rates. This valuation doesn't include the dividend of Rand 0.10 per share that the Johannesburg Stock Exchange-listed distributor is expected to give shareholders at the end of this fiscal year.
Emkay Global Financial Services has given target price of Rs 143 for Godavari Power and Ispat. The analyst house has given bullish outlook for the power and metals sector company based on good growth during the previous quarter.
The business has improved and 102% higher iron ore mining compared to same period of previous year. Emkay Global has given buy call for the stock.
Stock in Cipla gained 0.87 per cent to close at Rs 380.45 a share on the Bombay Stock Exchange (BSE) on Monday, after the drug-maker announced 62 per cent year-on-year jump in net profit. The BSE's benchmark Sensex could gain just 0.04 per cent.
Cipla announced that its net profit jumped from Rs 309 crore in the second quarter of fiscal year of 2012-13 to Rs 500 crore in the same quarter of current fiscal, thanks to strong growth in sales in domestic as well as international markets.
Formulation exports of the drug-maker jumped 38 per cent in the three months thorough September 30 year-on-year, from Rs 752 crore to Rs 1,039 crore.
Indian Stock market was trading flat on Monday morning. The BSE Sensex was marginally down at 18733 and NSE Nifty was down by 4 points at 5693. Asian markets were trading lower. Hang Seng was down by 0.3% at 22031, Straits Times was down at 3031 and Nikkei 225 was down by half per cent at 9007.
Among Indian stocks, ACC was up by nearly 2 per cent at Rs 1434. Dr Reddy's Labs and Cipla were up by 1.5% each. Kotak Mahindra Bank was also among major gainers at Rs 620.
Indian Stock Market was trading marginally lower at 11.55 am IST on Monday. Among major gainers in today's session were Bharti Airtel, Ranbaxy and Cipla. Asian markets were negative with Hang Seng down by 0.39%, Straits Times down by 0.2% and Nikkei 225 marginally positive by 14 points.
Pharmaceutical major Ranbaxy Labs touched 52-week high of Rs 562. The stock is currently trading at Rs 560. Rahul Mohindar of viratechindia. com has suggested target of Rs 582 for Ranbaxy Labs in his recommendation last week.
Technical House KRChoksey has suggested buy call for SBI. The stock is good for long term. SBI is pioneer in Indian banking Public sector. The stock has touched 52-week high and low of Rs 2657 and 1571 respectively.
SBI is trading currently with a P/E ratio of 16. Market expert Dilip Bhat has also suggested buy call for State Bank of India.
Pharmacetical major Cipla is good defensive bet at current levels, as per market experts at KR Choksey. The recently declared results of Cipla were as per market expectations. The net profit for Q4 was up by 36.5 per cent at Rs 292 crore compared to same quarter previous year.
Cipla Ltd. has slashed the rates of a few of the generic medications, which it sells in the Indian market for the treatment of cancers of the lung, liver, kidney and the brain by around 75%.
The pharma giant stated that it will now market sorafenib, the generic edition of Bayer AG's kidney- and liver-cancer medication Nexavar, for Rs 6,840 rupees for a month's therapy as against Rs 28,000 earlier.
The company has cut the cost of a pack of five capsules of brain-cancer medicine temozolamide in 250-milligram doses to Rs 5,000 as against Rs 20,250.
Mixed set of results, no near term triggers Cipla’s Q1FY12 results were a mixed bag. While growth on the sales front was disappointing in spite of increasing contribution from Indore SEZ, OPM surprised on the positive side on back of better product mix and break-even at Indore SEZ. The company has maintained its sales growth guidance of 10% and expects OPM to sustain at current levels for FY12.
Cipla reported disappointing Q4FY11 results with OPM contracting 212bps on back of higher contribution from the low-margin ARV business. Further, Cipla’s FY12 guidance is also not encouraging especially on the margins front in spite of the fact that 10% of sales is expected to come from Indore SEZ. The stock has under performed the broader market by ~7% in last 3 months. We have revised downwards our FY12 earning estimates by 9% to factor in lower OPM. We continue to maintain our Hold rating with a reduced target price of Rs312 (earlier Rs331) based on June' 12E earnings.
Sales growth surprises but the mix disappoints
Technical analyst Sanjeev Bhasin has maintained 'hold' rating on Bharti Airtel stock with a target of Rs 350.
According to analyst, the said target can be attained within a period of six months.
The stock of the company, on May 04, closed at Rs 309.35 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 380.80 and a low of Rs 289.75 on BSE.
Current EPS & P/E ratio stood at 11.63 and 26.29 respectively.
Technical analyst Anil Singhvi maintained 'sell' rating on Cipla Ltd stock with an intra-day target of Rs 310.
According to analyst, the investors can sell the stock with a stop loss of Rs 329.
Mr. Singhvi added that it's better to sell the stock in today's session as there are full chances of decline.
Today, the stock of the company opened at Rs 316.90 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 380.80 and a low of Rs 301.10 on BSE.
Current EPS & P/E ratio stood at 11.63 and 27.05 respectively.
Cipla reported dismal 3Q with growth on the domestic front tapering after strong 2Q and operational cost at Indore SEZ continues to hamper margins. We recommend HOLD on the stock with a target price of Rs331 valuing the company at 22x FY12 earnings as scale-up of Indore SEZ is expected to be gradual (post FY12) on back of slow regulatory approvals for inhalers in regulated markets and below industry average growth rate on the domestic front.
Technical analyst Rajesh Satpute maintained 'buy' rating on Cipla Limited stock with a target of Rs 350.
According to analyst, the stock can be bought with a stop loss of Rs 316.
The stock of the company, on February 02, closed at Rs 324.75 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 380.80 and a low of Rs 301.10 on BSE.
Current EPS & P/E ratio stood at 12.33 and 26.82 respectively.
- Marathon Pharma to sell decades-old drug to treat DMD for $89,000
- FedEx Launches FedEx Fulfillment for Small Business to Compete with Amazon
- CDC updates 2017 advisory for recommended flu shots
- Coca-Cola Helped by Strong North American Demand but Company Issues Lackluster Future Guidance
- Women with dense breasts more likely to develop breast cancer: study