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Cipla plans to set foot in diabetes segment with licensed branded portfolio

26 May 2023 , 12:59 PM

Cipla, a drug major, is making significant investments in the highly competitive diabetes segment, including investments in product portfolio expansion, field force expansion, and a focus on brand expansion.

As per MD and Global CEO Umang Vohra, Cipla has always been a big player in the respiratory and acute segment but the diabetes segment remains unexplored by the company.

The segment is expected to grow faster as people age and adopt more sedentary lifestyles, with 7.7 crore Indian adults (20-79 years) diagnosed in 2021 and 4 crore undiagnosed. For the fiscal year ending April 2023, the anti-diabetes segment has a market value of Rs 16,704 crore.

Cipla chose to sign licensing agreements for patented products. It has also entered into distribution agreements with MNCs and made some acquisitions. Furthermore, the drug maker is adding more people, and refocusing its sales pitch.

Last month, Cipla cracked a perpetual license agreement with Novartis for Galvus and its combination brands. As per data released by IQVIA, it reported sales of nearly Rs 270 crore in FY23.

Additionally, the Galvus deal will pave the way for Cipla to improve its ranking from 14th position to 8th in the anti-diabetic segment.

Cipla’s efforts have gradually but steadily paid off; the company has grown 9% faster than the 6.8% market growth in the anti-diabetes segment.

For feedback and suggestions, write to us at editorial@iifl.com

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