Company Watch

Cipla is all set to fight bird flu battles

Cipla has received an approval from the drug controller of India for marketing the generic version of bird flu drug Oseltamivir, in the domestic market this month. The generic version will be made available in the domestic market for a price of Rs 1,000 for a strip of 10 pills. According to experts, Cipla will sell the product in 49 countries where the patent is not applicable.

Cipla recently commenced initiatives to raise $200 million mostly through GDRs and a combination of Foreign Currency Convertible Bonds (FCCB) and private placement.

The funds raised will be utilised in improving the infrastructure of the company and adding new plants, factories and facilities. "If we see growth that we have been having in the last three to five years and compare it with the demand, we would need quite a bit of investments in infrastructure," states Amar Lulla, MD, Cipla.

There have also been reports in the industry circles that Cipla is soon to witness a succession. Kaamil Hamied, nephew of Cipla Chairman YK Hamied and son of Cipla's joint MD M K Hamied, joined the company a few days back. It is understood that he is being given responsibilities and is being groomed to play a key role in the top management. However, the company is tight-lipped on the matter and the officials have declined to comment.