Cipla gets license from Novartis for Galvus

10 Apr 2023 , 02:56 AM

Cipla Limited has entered into a perpetual license agreement with Novartis Pharma AG of Switzerland to produce and sell Galvus and Galvus combination brands, which are used to treat type 2 diabetes.

The agreement will take effect from January 1, 2026, subject to certain conditions being met beforehand. In the meantime, the company said that it will continue to market and distribute Galvus-branded products.

Galvus is a leading brand in the Dipeptidyl Peptidase-4 (DPP4) sector and is widely recognized as one of the top brands in oral diabetic medication.

With reported sales of Rs 268 crore (IQVIA MAT February 2023), Galvus has the potential to make a substantial contribution to Cipla’s portfolio in the diabetes care continuum space.

The agreement is anticipated to strengthen Cipla’s position in the diabetes category in India, solidifying its standing as one of the leading players in this market segment.

At around 2.52 PM, Cipla is trading 0.90% higher at Rs 901.40, against the previous close of Rs 893.35 on NSE. The counter touched an intraday high and low of Rs 904.50 and Rs 894.20 respectively.

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