Cipla

Cipla FY'10 net profit up by 40%

Cipla FY'10 net profit up by 40%

Leading drug maker of the country Cipla has announced its year-end financial results for the fiscal year 2009-10 and it has posted an impressive rise in net profit figure.

The company has posted a net profit of Rs 1,082.59 crore for the financial year that ended in 31st March, 2010.

The consolidated net profit was reported to be Rs 771.02 crore for the financial year 2008-09. This net profit figure has grown up by 40.41 % in this year as compared to the last fiscal. This has been informed by the firm in a filing at the Bombay Stock Exchange.

Cipla stock gains as it announces acquisition plans

Cipla stock gains as it announces acquisition plans

Stock price of the drug company, Cipla gained marginally on the stock markets today to close at Rs.337.85.

The gain came after the company announced that is going to acquire significant stakes in two bio tech companies for $65 million.

One of the firms is situated in Goa while the other one is stationed at Shanghai. The step has been taken by Cipla so that it is able to consolidate its presence in the growing sector of bio-technology.

Cipla Puts Aside $65 million for buying stake in 2 companies

Cipla Puts Aside $65 million for buying stake in 2 companies

In the developing biotech sector, Cipla, one of the biggest drug makers in the country, plans to consolidate further by buying a minority stake in 2 biotech companies based in Goa and Shanghai. It has allocated around $65 million or 300crore rupees for the same. This includes 40% stake in Mab-Pharm which is the Goa based company and 25% stake in Shanghai’s Bio Mabs. It would be done by subscription of shares according to YK Hamied, who is the chairman of Cipla. Internal accrual in Cipla will help fund these acquisitions.

Piramal Healthcare acquires Cipla’s i-pill for Rs 95 crore

Piramal Healthcare acquires Cipla’s i-pill for Rs 95 crore

Piramal Healthcare has announced that it acquired Cipla's, i-pill in a deal worth Rs 95 crore to increase its business and achieve target plans.

The emergency contraceptive brand of Cipla is help Piramal achieve its target of trebling its over-the-counter drugs operations in the next three years. The sales for i-pill stood at Rs 31 crore sales last year and compete against Pharmaceutical major's own Unwanted 72 in the Indian market.