Cipla plans to launch diabetes and obesity drugs
₹1,514.4 crore in 2022, and it is projected to reach ₹2,762.7 crore by 2028, demonstrating a noteworthy compound annual growth rate, or CAGR, of 10.6% during the period from 2023 to 2028. While India’s diabetes care drugs market size is estimated at $1.7 billion in 2024, and is expected to reach $2.01 billion by 2029, growing at a CAGR of 3.5% during 2024-2029, according to Mordor Intelligence, a market intelligence and advisory firm. The company is also reported to be in dialogue with multinational corporation Eli Lilly for its GLP-1 class of drugs.
Vohra said that Ei Lilly remains a very strong partner for the company. “The decision for them to partner any asset is purely theirs. And when they make that decision, obviously, Cipla would like to present its credentials as a strong partner but as of now, we don't have anything to report or talk about," he added.
The Hyderabad-based pharma giant doesn't see any major hindrance from the Red Sea conflict other than some rise in costs, which the company said it also witnessed in the current quarter. The YK Hamied-backed company reported a consolidated net profit of ₹1,055.90 crore for the December quarter, a 31.82% rise over the corresponding quarter of last year, as per regulatory filings. Revenue during the quarter was up 13.66% year-on-year to ₹6,603.81 crore.
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