CIPLA

Aug 5 (Reuters) - Cipla Ltd CIPL.NS:

• CIPLA LTD - UPDATE ON USFDA INSPECTION AT CIPLA'S BOMMASANDRA FACILITY

• CIPLA LTD - USFDA CLASSIFIES CIPLA INSPECTION AS VOLUNTARY ACTION INDICATED

Source text: ID:nNSE7t3YP9

Further company coverage: CIPL.NS

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** India's third-largest drugmaker by sales, Cipla CIPL.NS reported quarterly profit that beat analysts' estimates on higher domestic demand for its generic respiratory drugs

** Shares climbed 2% on the day after rising about 3% post results on Friday

** At least 14 brokerages hiked price targets on the stock after earnings, raising the median PT to 1,723.5 rupees from 1,675 rupees last month, as per data compiled by LSEG

LINE-UP OF KEY LAUNCHES IN THE U.S. TO DRIVE GROWTH

** HSBC ("buy," PT: 1,740 rupees) says decline in Cipla's sales of generic cancer drug gRevlimid is imminent in FY26

** Adds, a good line-up of differentiated launches in the U.S. likely to offset the weakness

** Goldman Sachs ("sell," PT: 1,375 rupees) expects Cipla to rely heavily on new launches for growth in the United States

** Jefferies ("hold," PT: 1,690 rupees) says growth in key U.S. market disappointed, but launches in the market will start reflecting in Cipla's growth from H2FY27 onwards

(Reporting by Manvi Pant in Bengaluru)

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July 25 (Reuters) - Cipla CIPL.NS, India's No. 3 drugmaker by sales, reported a first-quarter profit that beat market expectations on Friday.

The company's consolidated net profit increased 10% to 12.98 billion rupees ($150 million) in the April-June quarter, beating analysts' estimates of 12.11 billion rupees, per data compiled by LSEG.

($1 = 86.5750 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru; Editing by Sonia Cheema)

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July 21 (Reuters) - Cipla Ltd CIPL.NS:

• ACQUISITION OF SECURITIES IN ICALTECH INNOVATIONS

• TO BUY 20% VOTING RIGHTS IN ICALTECH

• ACQUISITION COST APPROX. 50 MILLION RUPEES FOR 20% VOTING RIGHTS

Source text: ID:nBSE4cGVc9

Further company coverage: CIPL.NS

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SHANGHAI, July 2 (Reuters) - Indian drugmaker Cipla CIPL.NS is looking to add at least two new overseas markets for its products manufactured in China, as the firm seeks to work around constrained production capacity in India, a senior executive told Reuters.

India's third-largest drugmaker by sales started operations at its factory making inhalation respule productsin Jiangsu province, eastern China, in 2024 to supply the U.S. market.

"Sometimes we face capacity restrictions ... so they (customers) do approach us whether we can handle the supplies," Deepak Hegde, Cipla's general manager for China, told Reuters.

He said the company was in talks with "at least two or three different countries", for product shipments from China and those discussions began around six or eight months ago.

He declined to say how much it had supplied to the United States from the Chinese manufacturing site or name the other countries it was in discussions with.

The Chinese site can produce about 55 million units annually of products used in inhalers, Hegde said.

(Reporting by Andrew Silver. Editing by Miyoung Kim and Mark Potter)

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Repeats story published during Asian hours; no changes to text

By Aditya Kalra

NEW DELHI, June 19 (Reuters) - Omnicom Media's India chief was frustrated. It was October 5, 2023 and a rival was trying to poach the U.S. firm's client by offering lower prices, just weeks after global advertising agencies and broadcasters struck secret pacts on ad rates in the South Asian country.

The attempt to woo the client violated the agencies' agreement, Omnicom Media's India CEO Kartik Sharma wrote in a WhatsApp group comprising a who's who of advertising, according to excerpts of the discussion documented by antitrust investigators and verified by Reuters.

"This kind of practice is not in the spirit of what we are collectively trying to achieve," Sharma wrote, without identifying the parties.

Shashi Sinha, then India CEO of New York-based IPG Mediabrands, suggested an industry group should "admonish the agency".

The exchanges form part of a confidential dossier compiled by India's antitrust watchdog that chronicles how global advertising companies, including leading U.S. and European firms, coordinated to rig prices in the world's most populous nation.

Reuters reviewed evidence from the Competition Commission of India (CCI) investigation, including a 10-page document with messages and records of meetings between top advertising executives, and two industry agreements under scrutiny for antitrust violations; and interviewed two people familiar with the probe.

The key details, which haven't been previously reported, centre on WhatsApp interactions involving 11 industry executives. They include the top India or South Asia executives of WPP's WPP.L GroupM; U.S.-based Omnicom Media OMC.N and Interpublic's IPG.N IPG Mediabrands; France's Publicis PUBP.PA and Havas Media HAVAS.AS; Japan's Dentsu 4324.T and India's Madison World.

Over WhatsApp and in meetings, the executives coordinated responses to clients, which "resulted in alignment of competing advertising agencies," CCI officials said in the August 9 dossier, determining on an initial basis that the conduct contravened competition law.

The firms agreed to cooperate on pricing, including not to undercut each other; colluded with broadcasters to deny business to agencies that didn't comply; and discussed financial terms involving at least four Indian clients over conference calls, according to the investigation documents.

The documents don't indicate whether the agencies' foreign headquarters were aware of the executives' actions.

A spokesperson for WPP Media, which until May was known as GroupM, told Reuters it was aware of the investigation but declined to comment further.

A Dentsu India spokesperson confirmed Reuters reporting that it had disclosed industry practices to the CCI in February 2024 under the regulator's leniency program, which enables lesser penalties for firms that share evidence of malpractice. The spokesperson didn't address specific evidence raised in the dossier but said the firm had implemented stricter audits and controls.

The other agencies and their executives didn't respond to Reuters questions about the antitrust probe and information in the dossier. The regulator also didn't respond to queries.

Reuters has reported that in March, as part of the continuing investigation, the regulator raided the Indian offices of many advertising firms and an industry group that represents broadcasters, including the Reliance-Disney venture and Sony 6758.T.

CCI investigations typically take several months. The regulator can't press criminal charges, but can impose financial penalties on the media agencies of up to three times their profit or 10% of an Indian entity's global turnover, whichever is higher, for each year of wrongdoing.

SECRET PACTS

WPP Media, the world's largest media buying agency, last year - when it was still known as GroupM - won new India business worth $447 million, followed by Omnicom's $183 million, according to research firm COMvergence.

But India's near-$30 billion media and entertainment sector is grappling with weak consumer sentiment. Ad spending will rise 7% to $19 billion in 2025, the slowest growth in three years, according to GroupM estimates.

The CCI is investigating the role of two industry bodies, the Advertising Agencies Association of India (AAAI) and the Indian Broadcasting & Digital Foundation (IBDF), in orchestrating the suspected cartel.

The former group is led by WPP Media India head Prasanth Kumar, while the broadcasting body's president is Kevin Vaz, a top Reliance-Disney venture executive. Neither industry group responded to requests for comment.

The dossier shows the AAAI circulated guidelines to ad agencies in August 2023: They must charge clients whose annual spending exceeds $29 million a minimum 3% commission for digital ads and 2.5% for traditional media. Lower-spending clients would pay higher minimum commissions of up to 8%.

A month later, the industry associations entered a joint pact, agreeing no agency would "unilaterally offer any discount" on rates while pitching for business.

The pact, reviewed by Reuters, declared its aim was to eliminate "lower pricing as a reason to award a pitch".

The advertising firms began coordinating their activities at least as early as August 2023, according to the CCI documents.

Ad executives who met on December 1 that year hailed their collaboration as a "great success" and resolved to continue, according to meeting minutes cited in the CCI's evidence.

'ALL ALIGNED'

In the U.S., the Federal Trade Commission this month sought information from advertising agencies as part of a probe into whether they coordinated boycotts of certain sites. The Justice Department in 2016 probed agencies it suspected of rigging bids to favour in-house units, but eventually closed the case without bringing charges.

Brewer Anheuser-Busch InBev used CCI's leniency program to blow the whistle on an industry cartel in India in 2017.

In the case of the ad industry, Dentsu India told Reuters it filed its leniency application with the CCI not as a reaction to external pressure but out of a decision to "support reform from within".

Two people with knowledge of the matter told Reuters the evidence Dentsu submitted included a transcript of the WhatsApp group. The group, formed in August 2023 and reviewed in part by Reuters, was named "AAAI media agencies" and contained scores of chat messages.

Participants included Kumar of WPP's media company, Sharma of Omnicom Media, IPG Mediabrands' Sinha, Havas Media India CEO Mohit Joshi, Dentsu South Asia CEO Harsha Razdan and then-media business CEO Anita Kotwani, Publicis South Asia chief Anupriya Acharya and Madison boss Sam Balsara, the investigators' evidence shows.

Members of the group discussed advertising pitches and coordinated on interactions with clients such as food delivery giant Swiggy SWIG.NS, drug maker Cipla CIPL.NS, SoftBank-backed e-commerce firm Meesho, and Kshema Insurance.

In Swiggy's case, the AAAI arranged a Zoom call with media agency heads to discuss the company's advertising pitch. Later, GroupM's Kumar, as AAAI president, suggested an email response to Swiggy explaining the industry's agreed position on rebates.

"Ok all aligned thanks," he wrote after a consensus emerged.

Kshema told Reuters the insurer was unaware of the matter. The other clients didn't respond to questions.

During another discussion on client rebates, an unspecified Dentsu executive told rivals over WhatsApp that "the lowest we go to is retain 30% and 70% we pass back to the client," according to the CCI dossier.

CCI officials noted in the document that advertisers and the broadcasters' group had sought to penalise enterprises that didn't comply with the pricing pacts.

In an email to Walt Disney DIS.N in August 2023, Kumar wrote that broadcasters should refrain from granting business to a firm that had breached the pacts, ITW Consulting, though he said it had later agreed not to approach clients directly.

ITW didn't respond to Reuters questions.

Tensions heated up again over WhatsApp three months later.

Sharma, of Omnicom Media, learned that ITW had done another "direct deal with a client of ours" for advertising on streaming platform Hotstar, which was run by Disney.

This irked Sharma, as Hotstar had the rights for the cricket World Cup held in India at the time.

"This nuisance has to stop," he wrote in the group.

(Reporting by Aditya Kalra in New Delhi; additional reporting by Jody Godoy in New York and Munsif Vengattil in Bengaluru; editing by David Crawshaw.)

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May 30 (Reuters) - Cipla Ltd CIPL.NS:

• USFDA INSPECTION AT COMPANY’S MANUFACTURING FACILITY IN BOMMASANDRA, BENGALURU

• CONCLUSION OF THE INSPECTION, THE COMPANY RECEIVED 1 (ONE) OBSERVATION IN FORM 483

Further company coverage: CIPL.NS

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By Kashish Tandon

BENGALURU, May 15 (Reuters) - U.S.-based Waters Corp WAT.N, which makes medical equipment used in clinical testing, has seen a spurt in demand from drugmakers in India rushing to develop their versions of popular weight-loss drugs, a senior executive told Reuters.

Semaglutide, the active ingredient in Novo Nordisk's NOVOb.CO Wegovy and diabetes medicine Ozempic, goes off patent in India in 2026, paving the way for cheaper versions of the drugs.

Local drugmakers including Biocon BION.NS, Cipla CIPL.NS, Dr. Reddy's REDY.NS and Lupin LUPN.NS have been racing to make generic versions of these drugs to grab a share of the global market estimated to be worth $150 billion in the next decade.

"India will be the leading player in GLP drugs as well because we are in generics and we have manufacturing facilities to support," said T. Anil Kumar, vice president of Water's India business, referring to the class of weight-loss drugs known as GLP-1 agonists.

Waters, based in Milford, Massachusetts, makes laboratory equipment, software and other tools used in clinical testing by drugmakers and biotech companies. Its India unit contributes about 8% to Waters' sales.

"A lot of work is coming to India... so I see this as an opportunity for us," Kumar said.

Waters is expecting revenue growth percentage in the double digits in India on the back of these growth drivers, he added.

Waters Corp operates nine sites in India with over 430 employees. The company is headquartered in the tech hub of Bengaluru, where it also opened a Global Capability Center in 2023.

The company expects annual growth contribution of 70-100 basis points from its India business in the near-term and a 30 basis points boost from testing for GLP-1 drugs.

Last week, the company raised its annual profit forecast and reported better-than-expected quarterly results on higher demand in Asia and the Americas.

(Reporting by Kashish Tandon in Bengaluru; Editing by Krishna Chandra Eluri)

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Adds chart 2

By Bharath Rajeswaran

May 14 (Reuters) - MSCI included two Indian companies fertilisers maker Coromandel International CORF.NS and beauty products retailer Nykaa FSNE.NS to its Global Standard index earlier on Wednesday, as part of its May 2025 index rejig.

No Indian stock has been deleted from the key global index. The changes will come into effect as of the markets close on May 30.

The inclusion could bring passive inflows worth $216 million-$227 million into Coromandel and $172 million - $181 million into Nykaa, according to IIFL Alternate Research and JM Financial estimates.

MSCI also added Coromandel and airport operator GMR Airports GMRI.NS into its India domestic index, while removing auto parts maker Sona BLW Precision Forgings SONB.NS.

While the flagship Global Standard index and Indian domestic indexes only saw minor tweaks, MSCI added 11 new stocks to its global small-cap index and deleted 21 stocks.

The more specific MSCI India domestic small-cap index saw the addition of 12 stocks and removal of 21 stocks.

Besides the additions, drug maker Cipla CIPL.NS, telecom infrastructure provider Indus Towers INUS.NS and textiles and chemicals maker Grasim Industries GRAS.NS are likely to see passive inflows of $33 million-$45 million, $36 million-$40 million and about $17 million due to the increase in their weights in the Global Standard index.

Astral could see outflows worth $15 million-$17 million due to weight reduction, according to IIFL Alternate Research and JM Financial estimates.

India's weight in the MSCI Global Standard index rose marginally to 19.4%, according to the IIFL Alternate Research. India had a weightage of about 19% in the index as of the previous revision in February.

In its last rejig in February, MSCI added carmaker Hyundai Motor HYUN.NS and removed Adani Green Energy ADNA.NS from its global standard index.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Rashmi Aich)

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Rewrites throughout, Adds CEO comments from call, analyst comment

By Rishika Sadam and Kashish Tandon

May 13 (Reuters) - Cipla CIPL.NS, India's third-largest drugmaker by sales, posted fourth-quarter profit above estimates on Tuesday and said it will focus on new drug launches in the key domestic and U.S. markets to drive growth in the coming years.

In India, its largest market by sales, Cipla plans to launch innovative drugs and expand its portfolio in diabetes, neurology, and cardiac therapies. The company said weight-loss drugs will also be a key growth driver in India and emerging markets.

India's generic drugmakers including Cipla are in a race to launch cheaper versions of the innovative obesity drug after its active component Semaglutide goes off patent in 2026.

For North America, Cipla is focusing on peptides and complex generics, with some launches expected between FY26 and FY28, the company said.

“We’ve got some of our inhalers not yet approved, which probably should also come in between the later half of H1, early H2. So I think we have enough arsenal in just our portfolio and pipeline for the US to continue to show growth,” global CEO Umang Vohra said on a post-earnings call.

Indian drugmakers deriving significant U.S. revenue from low-cost generics have been on edge after President Donald Trump’s tariff threat. In the wake of that and the India-Pakistan conflict, Vohra said that there could be more certainty (in the business and market) after six months.

"(The) company has announced interesting development of its R&D, launch pipeline indicating future product mix changing to more complex products and likely a good capital allocation,” Shrikant Akolkar, analyst at Nuvama Institutional Equities, said.

Cipla reported a consolidated net profit of 12.22 billion rupees ($143.5 million) for the January–March quarter, beating estimates of 10.24 billion rupees, according to estimates complied by LSEG.

Revenue rose 9.2% to 67.3 billion rupees, led by respiratory drug demand. Revenue in India rose 8.5%, while North America grew 2%.

($1 = 85.1560 Indian rupees)

(Reporting by Rishika Sadam and Kashish Tandon in Bengaluru; Editing by Nivedita Bhattacharjee and Eileen Soreng)

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Adds analyst comment in paragraph 6-7, updates shares

May 12 (Reuters) - Indian pharma stocks .NIPHARM fell 1.6% on Monday, bucking broader market gains, after U.S. President Trump said he would cut drug prices by 30%–80% to match other wealthy nations.

Trump said he would sign an executive order on Monday to pursue "most favored nation" pricing.

The U.S. currently pays nearly three times more for many prescription drugs, though Trump offered no implementation details. Several Indian drugmakers earn a significant share of their revenue from North America by selling low-cost generic versions of newer drugs.

Thirteen of 20 stocks on the pharma sub-index fell, led by Sun Pharma’s 4.6% drop, even as the Nifty 50 .NSEI gained 2.5%; Zydus Life ZYDU.NS and Cipla CIPL.NS also declined 0.7% each.

Divi's Laboratories DIVI.NS and Lupin LUPN.NS fell 2% each, while Biocon BION.NS lost nearly 3%.

"A price cut of prescription drugs by 50% or more would hurt the U.S. formulations market, more on the branded size due to immediate potential impact, while over the medium term it will also impact generics as it reduces the potential market size of new drugs," said Shrikant Akolkar, an analyst at Nuvama Institutional Equities.

"Indian branded players like Sun Pharma, Biocon and Zydus Life may see an impact upon strict implementation," Akolkar said.

The U.S. accounts for nearly a third of India's pharma exports, which rose 16% to about $9 billion last fiscal year, according to government-backed trade body Pharmexcil.

(Reporting by Kashish Tandon in Bengaluru; Editing by Nivedita Bhattacharjee and Mrigank Dhaniwala)

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** Shares of Cipla Ltd CIPL.NS rises around 3%

** Stock had risen 5.2% to 1,488.50 rupees earlier in the session

** Pharma co gets final approval from the United States Food and Drug Administration (USFDA) for cancer treatment drug Protein-bound Paclitaxel

** Stock fell 1.2% in previous session

** More than 1.7 mln shares traded as of 1:44 p.m. IST, more than their 30-day moving avg of over 1.5 mln shares
** Mean rating of stock is 'buy'; their median PT is 1,640 rupees - data compiled by LSEG
** Day's gains trims CIPL's YTD losses to 7.4% vs a 12.5% fall in Nifty pharma index .NIPHARM

(Reporting by Meenakshi Maidas in Bengaluru)

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Adds analyst comments in paragraphs 11-12, updates share moves throughout

By Manas Mishra and Ananta Agarwal

April 9 (Reuters) - Global drugmakers' stocks dropped across the board after U.S. President Donald Trump reiterated plans for a "major" tariff on pharmaceutical imports, threatening an interwoven global supply chain, and as his country-specific reciprocal tariffs took effect, leading to more pain in global markets.

Pharmaceutical imports were initially exempt from Trump's first set of reciprocal tariffs last week — but his administration has since indicated that levies on the sector, which in the past has been excluded from such actions, are coming.

The U.S. president has said the tariffs will incentivize drug companies to move operations to the United States. However, analysts and companies have raised concerns about the difficulty in setting up manufacturing in the country.

Shares of major U.S. drugmakers Amgen AMGN.O, AbbVie ABBV.N, Pfizer PFE.N, Merck MRK.N and Eli Lilly LLY.N fell between 3% and 6% in premarket trading.

In Europe, a basket of healthcare stocks .SXDP fell 5% to its lowest since October 2022, leading losses among sectoral indexes on the region-wide STOXX 600 .STOXX, which was down 3.3% at 1013 GMT. The index was heading for its biggest one-day drop since March 2020.

Trump had also threatened the duties on Friday after his first set of "reciprocal" tariffs exempted pharma products. Trump has not said when and by how much he plans to raise levies on pharma imports.

"While the details are scant, we are strongly opposed to tariffs on any pharmaceuticals — these will likely do little to shift manufacturing back to the U.S.," said BMO Capital Markets analyst Evan Seigerman.

"Given the complexity of the pharma supply chain, we do not expect the industry to make any major changes. These current tariffs are being pursued under emergency powers, which at worse will last until the end of the current administration and could end sooner with an act of Congress."

Seigerman also pointed to concerns over recent layoffs at the U.S. Food and Drug Administration, saying the worries were now compounded by the "real talk" of pharma tariffs.

ADDITIONAL COSTS, LONG WAIT FOR PRODUCTION

Europe and the U.S. have interconnected supply chains for medicines. The United States depends on medicines partly produced in Europe that bring in hundreds of billions of dollars in revenue.

Bernstein analyst Courtney Breen wrote in a note that her worst-case scenario assumes tariffs could be steep, leading to about $53 billion in additional costs paid for pharmaceutical imports.

If companies did choose to bring new manufacturing to the United States, Breen expects additional spend of $2 billion for each new "green field" site and a five-year runway to production.

EU medical and pharmaceutical product exports to the U.S. totaled about 90 billion euros ($97 billion) in 2023, according to latest Eurostat data.

Shares of AstraZeneca AZN.L, GSK GSK.L, Roche ROG.S, Sanofi SASY.PA and Novartis NOVN.S fell between 5% and 6.5% in Europe. Meanwhile, Indian pharmaceutical stocks .NIPHARM closed nearly 2% lower, dragging down the benchmark Nifty 50 .NSEI by 0.6%.

IPCA Laboratories IPCA.NS, Glenmark Pharma GLEN.NS and Biocon BION.NS were the top losers by percentage on the pharma index in Mumbai, ending the trading session between 4% and 5.5% lower.

India's pharma exports to the U.S. mostly comprise generics, or cheaper versions of popular drugs. The United States accounts for a third of India's overall pharma exports.

(Reporting by Kashish Tandon, Ananta Agarwal and Manas Mishra in Bengaluru and Anna Pruchnicka in Gdansk; Editing by Savio D'Souza, Mrigank Dhaniwala and Shounak Dasgupta)

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By Rishika Sadam

HYDERABAD, April 7 (Reuters) - Danish drugmaker Novo Nordisk NOVOb.CO is looking at an early launch of its blockbuster weight-loss drug Wegovy in India to better compete with rival Eli Lilly LLY.N in the populous nation, two sources familiar with the plans told Reuters.

Novo, which had earlier planned for a 2026 launch of the drug, is now looking to begin selling Wegovy in India "this year, probably in the next few months," sources told Reuters on condition of anonymity as they were not authorized to talk to the media.

"Novo's also assessing the stock situation to handle the demand in India. They want to avoid any shortage issues," one of the sources said.

The company's accelerated plan follows U.S. rival Eli Lilly's launch of its diabetes and obesity drug Mounjaro in India last month.

Reuters reported earlier that Novo's India team had been pushing the global headquarters for an early Wegovy launch.

Novo and Lilly have seen skyrocketing global demand for their innovative weight-loss drugs, with investor interest also boosting the drugmakers to among the world's most valuable companies.

The competing drugs belong to a class of therapies known as GLP-1 receptor agonists that help control blood sugar and slow digestion, making people feel fuller for longer.

Semaglutide, the active ingredient in Novo's Wegovy and diabetes medicine Ozempic, goes off patent in India in 2026, paving way for generic drugmakers to produce cheaper versions of the drugs.

Local drugmakers such as Sun Pharma SUN.NS, Cipla CIPL.NS and Dr Reddy's REDY.NS have been racing to build up supplies with an eye on a share of a global market analysts have estimated could be worth $150 billion annually in the next decade.

Novo declined to comment on Monday, but previously said Wegovy has been approved in India. It did not have a confirmed date for the medicine's India launch at the time.

"Novo also thinks that its brand names Ozempic, Wegovy have better penetration in the market, which would give them an edge," the other source said.

Still, Novo would need to offer the drug at a competitive price to Lilly's once-weekly Mounjaro injection, which costs about $50 for a 5 milligram vial, and $40 for a 2.5 mg vial, the lowest doses.

(Reporting by Rishika Sadam in Hyderabad and Maggie Fick in London; Editing by Bill Berkrot)

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By Kashish Tandon

April 4 (Reuters) - Indian pharmaceutical stocks .NIPHARM fell 4.4% on Friday, wiping out gains from the previous session, after U.S. President Donald Trump threatened steep tariffs on the sector.

"Pharma (tariffs) is going to be starting to come in, I think, at a level that you haven't really seen before," Trump told reporters aboard Air Force One.

"That will be announced in the near future, and is under review right now," Trump said.

The index was among the top sectoral losers by percentage on the benchmark Nifty 50 .NSEI, which was down about 1.2% at 11:25 a.m. IST.

All 20 constituents of the pharma index were trading in the red, with Sun Pharma SUN.NS, Dr Reddy's REDY.NS and Cipla CIPL.NS being the biggest drags.

Lupin LUPN.NS, Aurobindo Pharma ARBN. and Ipca Laboratories IPCA.NS fell about 6.5% each, and were the top losers by percentage.

Trump imposed a 10% tariff on most U.S. imports earlier this week, as well as much higher levies on dozens of rivals and allies alike, but temporarily exempted some goods, including pharmaceuticals, benefiting major exporters including India, Japan and Ireland.

Pharma stocks were a rare bright spot on Thursday as global drugmakers gained on relief that their products remained temporarily shielded from the tariffs.

However, executives and analysts had warned it was premature to celebrate as levies were still likely to come.

"If these tariffs are introduced, the manufacturers will have no choice but to pass on the impact to consumers," said Vishal Manchanda, an analyst at Systematix Institutional Equities.

Indian drugmakers have been on a 'wait and watch' mode and also raised concerns on the difficulty in setting up manufacturing in the U.S., a move that would increase their costs.

Trump in his Wednesday address had predicted pharma companies would come "roaring back" to the U.S, and warned that "they got a big tax to pay" if they don't.

(Reporting by Kashish Tandon in Bengaluru; Editing by Varun H K)

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April 3 (Reuters) - Shares of Indian drugmakers surged 4% on Thursday, in contrast to the drop in the broader stock market, after U.S. President Donald Trump's administration exempted pharmaceutical products from the list of imports hit by reciprocal tariffs.

The pharma sub-index .NIPHARM was the only one among the 13 major sectors that was trading higher. The benchmark Nifty 50 .NSEI was down 0.74%.

Trump imposed a 26% reciprocal tariff on Indian imports as part of his wider plan to impose a 10% baseline tariff on all imports from April 5, but the duties do not apply to certain goods, including pharmaceuticals.

The U.S. imports nearly a third of Indian pharma products sold overseas. India's pharma exports to the U.S. jumped 16% to about $9 billion last fiscal year, according to data from government-backed trade body Pharmexcil.

On the day, Dr Reddy's REDY.NS climbed 6% and was the top gainer on the benchmark Nifty 50 index. Gland Pharma GLAD.NS surged 12% and was the top gainer among pharma stocks.

Cipla CIPL.NS and Sun Pharma SUN.NS rose 4% each.

(Reporting by Kashish Tandon in Bengaluru; Editing by Savio D'Souza)

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Updates March 20 story with Novo Nordisk comment on Wegovy launch timing in paragraph 11

By Rishika Sadam

HYDERABAD, March 21 (Reuters) - Eli Lilly launched its blockbuster diabetes and weight-loss drug Mounjaro in India on Thursday, beating rival Novo Nordisk for a much-awaited entry into the world's most populous country grappling with increasing rates of obesity and diabetes.

U.S.-based Lilly LLY.N and Danish Novo Nordisk NOVOb.CO have seen skyrocketing global demand for their innovative weight-loss drugs, with investor interest also boosting the drugmakers' valuations.

Mounjaro, a once-weekly injection approved by India's drug regulator, is priced at 4,375 rupees ($50.67) for a 5 mg vial and 3,500 rupees ($40.54) for a 2.5 mg vial, its lowest doses, the company told Reuters exclusively. Its highest dose is 15 mg.

A patient in India may have to spend about $200 a month when taking a weekly dose of 5 mg, subject to doctor's prescription.

Mounjaro carries a list price of $1,086.37 for each monthly fill in the U.S., but the amount patients pay largely depends on their insurance plan. Lilly also offers 5 mg, 7.5 mg and 10 mg vials of Zepbound, with prices around $499 for a month's supply if customers pay directly in cash without any third-party entities.

Chemically known as tirzepatide, Mounjaro is currently sold in the UK and Europe under the same brand name for both diabetes and weight loss. It is sold as Zepbound for obesity in the U.S.

Lilly, however, said that the pricing in different geographies cannot be compared given significant variation in healthcare systems, economies and reimbursement policies in each country.

"(Mounjaro) launch is ahead of Novo Nordisk and the first mover advantage should help ... but pricing seems high (for the Indian market). At the highest dose, a patient will have to spend close to 700,000 rupees (around $8,100) per annum," Vishal Manchanda, analyst at Systematix Institutional Equities said.

Novo's weight-loss drug, Wegovy, can cost non-insured U.S. patients more than $1,000 a month.

Novo's India team has been pushing the global leadership to launch Wegovy as early as 2025 in the country as opposed to the company's target of a 2026 launch.

The drugmaker told Reuters that Wegovy has already been approved in India, but said it did not have a confirmed date for the medicine's launch there.

The company's shares were down 0.6% at 1145 GMT, underperforming the broader European market .STOXX. Shares of U.S.-based Lilly rose as much as 2.07% to $854.39 on Thursday.

Novo's stock has fallen over 12% so far this year, while Lilly's has jumped 8%.

Novo is not the only competition Lilly will have to confront in India. Local drugmakers such as Sun Pharma SUN.NS, Cipla CIPL.NS, Dr. Reddy's REDY.NS and Lupin LUPN.NS have been racing to make generic versions of these drugs to grab a share of the global market estimated to be worth $150 billion in the next decade.

The active ingredient in Wegovy is semaglutide, which is likely to go off-patent in 2026 in India.

"The dual burden of obesity and type 2 diabetes is rapidly emerging as a major public health challenge in India," said President and General Manager Winselow Tucker at Lilly India.

Obesity and diabetes rates in India, a country of more than 1.4 billion people, have been steadily climbing. The number of adults with diabetes is set to increase to over 124 million by 2045 from 74.2 million in 2021, according to International Diabetes Federation.

Meanwhile, a government survey conducted between 2019 and 2021 showed that 24% of women and nearly 23% of men between the ages of 15 and 49 were either overweight or obese, up from 20.6% of women and 19% of men in 2015-2016.

Wegovy and Novo's diabetes drug, Ozempic — which has the same main ingredient — and Mounjaro, belong to a class of therapies known as GLP-1 receptor agonists that help control blood sugar and slow digestion, making people feel fuller for longer.

($1 = 86.3425 Indian rupees)

(Reporting by Rishika Sadam in Hyderabad, Maggie Fick in London and Bhanvi Satija in Bengaluru; Additional reporting by Manvi Pant in Bengaluru; Editing by Janane Venkatraman, Alan Barona and Tomasz Janowski)

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March 20 (Reuters) - Eli Lilly LLY.N on Thursday launched in India its diabetes and weight-loss drug, Mounjaro, which has already clocked in over $20 billion in global sales since its initial U.S. launch in 2022.

India, the world's most populous country, has high obesity rates and the second-highest number of people with type 2 diabetes. Around 11% of Indian adults are expected to become obese by 2035, according to the World Obesity Federation Atlas.

Here are the local and international drugmakers also eyeing the Indian market and looking to introduce rivals to Lilly's drug:

NOVO NORDISK

The Danish drugmaker NOVOb.CO had said it aims to launch its blockbuster weight-loss drug, Wegovy, in India by 2026.

The active ingredient in Wegovy is semaglutide, which is likely to go off-patent in 2026 in India.

Wegovy and Lilly's Mounjaro belong to the same class of treatments called GLP-1 agonists, which soared into popularity globally triggering a shortage of supply. GLP-1 drugs mimic a gut hormone that helps control blood sugar levels and slow digestion, making people feel fuller for longer.

SUN PHARMA

Sun Pharmaceutical SUN.NS, India's largest drugmaker by revenue, is developing its own GLP-1 treatment, utreglutide, for weight loss and type 2 diabetes.

The drugmaker said earlier this month it expects to launch the drug in the next four to five years.

BIOCON

Indian drugmaker Biocon BION.NS is developing its own version of Novo's Wegovy, as the drug is set to lose exclusivity next year in emerging markets such as India, Brazil, Mexico, and Saudi Arabia.

ZYDUS LIFESCIENCES

India's Zydus Lifesciences ZYDU.NS is developing the generic version of Semaglutide and plans on launching the drug after its patent expires in India.

CIPLA

Cipla CIPL.NS, India's third-largest drugmaker by sales, is among the Indian drugmakers making cheaper versions of Novo's Wegovy.

Cipla has also said it is open to partnering with Lilly to market Mounjaro in India.

DR. REDDY'S

India's Dr. Reddy's REDY.NS has said it plans to launch generic versions of Semaglutide in all the markets as Novo's patent expires.

LUPIN

India's Lupin LUPN.NS is another generic drugmaker looking to grab a share of the burgeoning obesity treatment market with its own version of Novo's Wegovy.

NATCO, MANKIND PHARMA, AUROBINDO PHARMA

Media reports say India's Natco Pharma NATP.NS, Mankind Pharma MNKI.NS, Aurobindo Pharma ARBN.NS are also developing cheaper versions of Novo's Wegovy.

Reuters was not able to independently verify the reports.

(Reporting by Mariam Sunny in Bengaluru; Editing by Maju Samuel)

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By Rishika Sadam and Kashish Tandon

MUMBAI/BENGALURU, Feb 28 (Reuters) - Tariffs should not influence decisions at Indian drug companies, Cipla's CIPL.NS top executive said on Friday, as the industry braces for U.S. President Donald Trump's plans to tax pharmaceutical imports.

India, often dubbed the "pharmacy of the world", is among the top exporters to the U.S., especially for cheaper versions of popular drugs.

"I'm not sure tariffs should dictate what we should be doing as players, because there is a risk that four years later, those tariffs may go away," Cipla Global CEO Umang Vohra said at the Global Pharmaceutical Quality Summit in Mumbai.

"So by the time you build a plant, tariffs have gone away. Now you have a plant sitting there, right? So I just think we should take a more holistic view."

Trump has said he could impose duties of 25% or more on pharmaceutical imports and an announcement could be made by next month. He also asked companies to shift manufacturing to the U.S. to avoid tariffs.

Most drugmakers said they were awaiting clarity on what kind of tariffs would be imposed, if any.

"I don't know how much difference it (tariffs) will make to us... and will not justify relocating our manufacturing," said Sun Pharma SUN.NS MD Dilip Shanghvi.

"Ultimately, it (tariff impact) will be passed on to consumers," Shanghvi said.

India imposes an about 10% tax on pharma imports from the U.S. while paying almost nothing on exports of its pharmaceutical products into the U.S., according to industry experts.

India makes cheaper generic versions of complex innovative drugs in its massive factory clusters and exports them to over 200 countries, and the U.S. is its biggest market, government data shows.

According to research firm IQVIA, nearly half of all prescriptions for generic medicines in the United States in 2022 were supplied by Indian drugmakers. Overall, generic drugs saved the U.S. health system about $408 billion.

Earlier this week, Dr Reddy's MD GV Prasad told Reuters Indian drugmakers are likely to remain competitive in the generics market even if Trump levies a duty on pharmaceutical imports.

He had also said shifting manufacturing to the U.S. was not practical as they do not have enough capacity and costs would rise.

(Reporting by Rishika Sadam in Mumbai; Writing by Kashish Tandon; Editing by Devika Syamnath)

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Corrects paragraph 10 in February 20 story to say generic drugs overall, not just those supplied by Indian drugmakers, resulted in $408 billion in savings for the U.S. healthcare system

By Rishika Sadam

HYDERABAD Feb 20 (Reuters) - Indian drugmakers are hoping that bilateral discussions between the country and the United States will help them steer clear of President Donald Trump's plan to levy at least 25% tariffs on pharmaceutical imports, a trade association said.

India, which calls itself the 'pharmacy of the world', makes cheaper generic versions of complex innovative drugs in its massive factory clusters and exports them to over 200 countries, of which the U.S. is its biggest market, government data shows.

"This (tariff) matter will be discussed through bilateral engagements between the two countries and further steps will be determined accordingly," Sudarshan Jain, secretary general of the Indian Pharmaceutical Alliance (IPA), said in a statement on Wednesday.

"We are confident that continued dialogue among stakeholders will help address the subject."

The IPA represents some of India's biggest drugmakers, including Sun Pharmaceutical SUN.NS, Dr Reddy's REDY.NS, Cipla CIPL.NS and Zydus Lifesciences ZYDU.NS, and the local units of U.S. firms such as Abbott ABT.N.

Earlier this week, Sun Pharma Managing Director Dilip Shanghvi told local media that the tariffs, if imposed, will be passed on to consumers.

In fiscal 2024, exports to the U.S. were worth $8.7 billion, or about 31% of total pharma exports, data from government-backed trade body Pharmexcil showed. Trump's tariff threat sent shares of Indian drugmakers sliding on Wednesday.

"The government will certainly have discussion about the changing situations and try to bring the best possible solution," Pharmexcil Director General Raja Bhanu told Reuters on Thursday.

"Our USP is quality, affordability," Bhanu said, adding that it makes India's exports highly competitive.

According to research firm IQVIA, nearly half of all prescriptions for generic medicines in the United States in 2022 were supplied by Indian drugmakers. Overall generic drugs saved the U.S. health system about $408 billion.

In an interview with Fox News which aired on Tuesday, Trump said he told Prime Minister Narendra Modi that the U.S. will follow reciprocal tariff method and charge the same as what India does.

Separately, on Wednesday, he said the tariffs could be announced 'next month or sooner.'

India imposes about 10% tax on pharma imports from the U.S. while paying almost nil import tariff for its pharmaceutical products in the U.S., according to industry experts.

"This (tariff) move is going to be inflationary to the U.S. as they don't have the requisite manufacturing infrastructure in-house to replace the scale of supply that India does," said Vishal Manchanda, an analyst at Systematix Institutional Equities.

(Reporting by Rishika Sadam; Editing by Savio D'Souza and Eileen Soreng)

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Feb 3 (Reuters) - Cipla Ltd CIPL.NS:

• CIPLA LTD - TO INVEST ZAR 900 MILLION IN SOUTH AFRICAN SUBSIDIARY

Source text: ID:nBSE82Sv58

Further company coverage: CIPL.NS

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By Kashish Tandon and Rishika Sadam

HYDERABAD/BENGALURU Jan 31 (Reuters) - Sun Pharmaceutical SUN.NS, India's largest drugmaker by revenue, reported a bigger-than-expected quarterly profit on Friday, aided by strong sales in the domestic market.

The Mumbai-based firm's consolidated net profit rose 15% to 29.03 billion rupees ($335.3 million) in the third quarter, beating analysts' average estimate of 28.81 billion rupees, according to data compiled by LSEG.

Sales in India, Sun Pharma's largest revenue-generating region, rose 14% to 43 billion rupees, or about 31% of total sales. That was bigger than the 11% increase in the previous quarter.

Its high-margin global specialty pharmaceutical segment, which includes medicines for conditions such as alopecia and psoriasis, reported a 17.5% jump in sales to $370 million, or 21% of total sales.

"Increasing contribution from global specialty drugs is a key positive for Sun Pharma and will continue to boost margins in near term, said Shrikant Akolkar, an analyst at Nuvama Institutional Equities.

Overall, the company's revenue rose 10.5% to 136.75 billion rupees, surpassing analysts' estimates of 134.22 billion rupees.

That was despite U.S. sales increasing just 0.7%.

Most of India's generic drugmakers derive a significant share of revenue from the United States, where lower drug prices due to stiff competition have been weighing on profit margins.

Among its rivals, Dr Reddy's REDY.NS missed profit estimates for the quarter, while Cipla CIPL.NS beat expectations. However, both the generic drugmakers saw muted growth in their key North American market.

($1 = 86.5860 Indian rupees)

(Reporting by Rishika Sadam and Kashish Tandon; Editing by Savio D'Souza)

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** Cipla CIPL.NS, India's No.3 drugmaker by sales, reported Q3 results above estimates on Tuesday, led by strong domestic business

** At least four analysts hiked PT on the stock, while two have upgraded the stock - LSEG data

HEALTHY LAUNCH PIPELINE TO REPLACE REVLIMID LOSS BUT TIMELINE UNCERTAIN

** CLSA ("hold", PT: 1,419.55) says while management expects launches of respiratory drug Advair and cancer drug Abraxane to offset the revenue loss after Revlimid patent expires, it depends on the remediation of their manufacturing plants - timings for which are uncertain

** Jefferies ("hold", PT: 1,395.90) says further delay in launch of Advair and Abraxane in H2FY26 is "key disappointment," adding that CIPL's launch pipeline in U.S. looks weak in near-term with only one peptide launch planned

** Motilal Oswal ("neutral", PT: 1,421 rupees) says clarity from U.S. FDA on CIPL's niche products is "key monitorable" over medium term

(Reporting by Kashish Tandon in Bengaluru)

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** Shares of Cipla CIPL.NS rise 3% to 1,438 rupees

** CIPL posted a ~49% rise in Q3 consol net profit to 15.71 bln rupees ($181.6 mln), beating analysts' estimate of 12.12 billion rupees, as per LSEG data

** Co aided by strong demand, especially in key North American market

** Rev from ops up 7.1% Y/Y to 70.73 bln rupees, beats estimate of 96.51 bln rupees

** Nearly 2 mln shares change hands, 1.4x its 30-day avg

** 33 analysts covering the stock on avg have a "buy" rating; median PT is 1,655 rupees - data compiled by LSEG

** Stock gained ~23% in 2024

($1 = 86.5300 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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Jan 23 (Reuters) - Cipla Ltd CIPL.NS:

• RAJEEV KUMAR SINHA RESIGNS AS GLOBAL CHIEF MANUFACTURING OFFICER

Source text: ID:nBSE1BP4wl

Further company coverage: CIPL.NS

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Jan 20 (Reuters) - Cipla Ltd CIPL.NS:

• USFDA INSPECTION AT MANUFACTURING FACILITY OF MEDISPRAY IN KUNDAIM, GOA

• ON CONCLUSION OF INSPECTION, MEDISPRAY RECEIVED 1 (ONE) OBSERVATION IN FORM 483

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Further company coverage: CIPL.NS

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Jan 17 (Reuters) - Cipla Ltd CIPL.NS:

• CIPLA - TAX AUTHORITY IMPOSES PENALTY OF 97.7 MILLION RUPEES ON CIPLA

Source text: ID:nBSEbgRp0c

Further company coverage: CIPL.NS

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By Leroy Leo and Rishika Sadam

BENGALURU/HYDERABAD, Dec 3 (Reuters) - Novo Nordisk's NOVOb.CO team in India has been pushing the Danish drugmaker's global leadership for an earlier launch of its popular weight-loss drug Wegovy over fears of falling behind rival Eli Lilly LLY.N in the potentially huge market, two sources familiar with the plans told Reuters.

Officials at the Danish drugmaker have said Wegovy might be introduced in India in 2026 once regulatory approvals are in hand and there is sufficient supply. More recently, Novo's India team proposed moving the launch to next year, around the same time Lilly is expected to introduce its weight-loss drug Mounjaro.

In a closed-door meeting at Novo's Denmark headquarters about two months ago, the India team raised concerns that the company could lag behind Lilly in the domestic market if Wegovy was not launched early, said one of the sources, who spoke on condition of anonymity as they were not authorized to speak to the media.

Novo declined to comment on internal discussions and Reuters could not determine what response the India-based executives received.

Wegovy and Novo's diabetes drug Ozempic, which has the same main ingredient, and Mounjaro, belong to a class of therapies known as GLP-1 receptor agonists that help control blood sugar and slow digestion, making people feel fuller for longer.

The companies have been struggling to meet soaring demand in the U.S. and the few other countries where the drugs have been launched so far. Novo and Lilly are both scaling up production as they vie for a dominant share of a weight-loss market that some analysts forecast could reach $150 billion a year in the next decade.

Novo received regulatory approval in India for injectable semaglutide - the active ingredient in Wegovy and Ozempic - in late 2022, according to one of the sources.

"We are working to make Wegovy (semaglutide injection 2.4 milligrams) available as soon as possible. We do not yet have a confirmed date for launch," Novo India said in a statement to Reuters.

Lilly, in response to a Reuters request, said its 2025 Mounjaro launch is also subject to the supply situation.

Last month, Novo launched Wegovy in China, the world's second-largest pharmaceuticals market, pricing a month's supply of the starter dose at 1,400 yuan ($193.27), far lower than its U.S. list price of more than $1,300, although most people don't pay that much.

India's generic drugmakers, including Cipla CIPL.NS and Dr Reddy's REDY.NS, are making cheaper copies of Wegovy, with the timing of any launch subject to patent expiry. Sun Pharmaceutical SUN.NS, India's largest drugmaker by revenue, is developing its own experimental GLP weight-loss drug.

India, a country of more than 1.4 billion people, has seen an increase in the prevalence of obesity. A government survey conducted between 2019 and 2021 showed that 24% of women and nearly 23% of men between the ages of 15 and 49 were either overweight or obese, up from 20.6% of women and 19% of men in 2015-2016.

Dr. Rishma Pai, a consultant gynaecologist at three hospitals in Mumbai who participated in a Novo survey about attitudes towards obesity, said the company has been reaching out to many types of doctors for a few years to spread awareness about obesity medications and better understand how to promote their acceptance in India.

Acceptance no longer appears to be an issue.

"Every patient is asking about these weight-loss injections," Pai said.

(Reporting by Rishika Sadam in Hyderabad and Leroy Leo in Bengaluru; Editing by Michele Gershberg and Bill Berkrot)

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Dec 2 (Reuters) - Cipla Ltd CIPL.NS:

• PROMOTERS SOLD 1.72% STAKE IN CO VIA OPEN MARKET

Source text: ID:nBSE6Qj5Mq

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