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India’s leading pharmaceutical company, Cipla notified on 2 March 2021 that its subsidiary Cipla Gulf FZ LCC (popularly known as Cipla Gulf) has entered a strategic alliance with Iceland domiciled Alvotech, a multinational biopharmaceutical company focusing on the production of high-quality biosimilar medicines.
Source: © Gicamatescu | Megapixl.com
Key Highlights of the Alliance
- Cipla Gulf to focus on making profits on patented biosimilars of the biologic medicine brands as followings:
- Aflibercept (Eylea®️)
- Ustekimumab (Stelara)
- Denosumab (Prolia, Xgeva®️)
- Golimumab (Simponi®️)
- Alvotech to lay emphasis on the marketing and distributing of the above-mentioned 4 biosimilar medicines in Australia and New Zealand markets.
- The alliance is anticipated to gain benefits driven by Cipla’s business adeptness and Alvotech’s competence in developing and manufacturing across the mentioned regions.
It is pointed out that the said medications are used for diagnosing and healing ailments related to immune system, bone related ailments, cancer to name a few. Also, the sale of the biosimilar medicines accounted to US$700 million in Australia last year.
Nishant Saxena, CEO, International Business, Cipla, opined that through this alliance the Company aims to increase its presence in the sphere of biosimilars in the strategic Australasian countries, thereby, making healthcare more accessible and reasonable and to live up to its motto ‘caring for Life’.
Another Takeaway From The Pharmaceutical Giant
In another development on 2 March 2021, Cipla notified on receiving the nod from the United States Food and Drug Administration for 20 mg Sumatriptan Nasal Spray for its abbreviated New Drug Application (ANDA).
The Company’s 20 mg Sumatriptan Nasal Spray is an AB-rated non-specific remedial alternative make of GlaxoSmithKline's Imitrex® Nasal Spray.
GSK’s Imitrex Nasal Spray is generally prescribed as a medication for adults with severe migraine with or without aura.
Cipla’s Quarterly Results
On financial front, Cipla boasted of Rs. 3.7 crores as revenue from operations for the quarter ended 31 December 2020. PBT was reported at Rs. 0.9 crores and PAT amounted to Rs. 0.7 crores for the said period.
