CIPLA

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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May 13 (Reuters) - Cipla CIPL.NS, India's No. 3 drugmaker by sales, reported a fourth-quarter profit that beat estimates on Tuesday, helped by strong demand for its generic respiratory drugs.

The company's consolidated net profit came in at 12.22 billion rupees ($143.5 million) in the January-March period. Analysts, on average, expected 10.24 billion rupees, per data compiled by LSEG.

($1 = 85.1560 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru)

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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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April 9 (Reuters) - Indian pharmaceutical stocks .NIPHARM fell 1.7% on Wednesday after U.S. President Donald Trump reiterated plans to announce a "major" tariff on all pharmaceutical imports.

U.S. accounts for a third of India's overall pharma exports.

Trump also threatened the duties on Friday, after his first set of reciprocal tariffs earlier last week exempted pharma products -- a change in stance that had prompted a wild swing in pharma stocks.

On the day, all twenty constituents of the pharma index were lower, with the index dragging down the benchmark Nifty 50 .NSEI by about 0.52% as of 9:20 a.m. IST.

Gland Pharma GLAD.NS, Lupin LUPN.NS and Zydus Lifesciences ZYDU.NS were the top losers by percentage, down between 3% and 5%.

Sun Pharma SUN.NS and Cipla CIPL.NS, the top constituents by weight, fell 1.69% and 1.87%, respectively.

India's pharma exports to the U.S. mostly comprise generics, or cheaper versions of popular drugs. These currently attract almost no U.S. levies, while India imposes about 10% tax on U.S. pharma imports, according to industry experts.

The pharma index has fallen 14.4% this year.

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

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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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Updates shares to U.S. market open

By Maggie Fick and Kashish Tandon

LONDON/BENGALURU April 3 (Reuters) - Drugmaker stocks gained a temporary reprieve on Thursday as U.S. President Donald Trump spared pharmaceutical products from reciprocal tariffs, but executives and analysts warned it was premature to celebrate as tariffs were still likely to come.

Trump imposed a 10% tariff on most U.S. imports, 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.

Shares of U.S. drugmakers AbbVie ABBV.N and Johnson & Johnson JNJ.N rose about 2%, defying the broader market drop.

Across continents, shares of Indian and European drugmakers .SXDP rose, in a sign of relief that pharmaceutical products for now remained out of the crosshairs of the trade wars.

A U.S. official said on Wednesday the president plans separate tariffs targeting the pharma sector.

Trump in his White House Rose Garden announcement once again namechecked the industry, predicting that pharma companies will come "roaring back" to the U.S, and warning if they don't, "they got a big tax to pay".

"The administration has reinforced the need to maintain robust and resilient domestic manufacturing capacity in pharmaceuticals," Stephen Farrelly, global pharma & healthcare lead at ING. "So it is being highlighted as a sector they needs to reshore."

WORRIES PERSIST

Many in the industry predicted the recent uncertainty over tariffs would continue to cast a shadow over drugmakers.

"The only thing that feels certain is more uncertainty," Barclays analyst Emily Field told Reuters.

One source at a European drugmaker said the sense on pharma sector tariffs was: "It's not today, but it's coming."

Trump's executive order listed pharmaceuticals alongside lumber, semiconductors and other sectors that could be subject to investigation under Section 232 of the 1962 U.S. Trade Act.

U.S. manufacturing costs for pharma companies will rise as country-specific tariffs will affect key supplies such as organic chemicals and glassware used to make pharma products, Bernstein analysts said in a note. They calculated an additional $45 billion of import cost risk to the pharma industry.

Jefferies analysts said Biogen BIIB.O and Amgen AMGN.O were among the drugmakers with most ex-U.S. exposure, while UBS pointed to AbbVie ABBV.N and Merck MRK.N having significant overseas manufacturing.

Medical devices and diagnostics equipment did not appear to be exempted, and shares in companies including GE Healthcare GEHC.O and DexCom DXCM.O fell about 6%.

Medical device industry group AdvaMed said the tariffs would likely lead to cuts in research and development spending and threatened the U.S. position as a leader of innovation in the medtech sector.

(Reporting by Maggie Fick in London, Rishika Sadam in Hyderabad, Bhanvi Satija and Kashish Tandon in Bengaluru, Additional reporting by Manas Mishra in Bengaluru, Paul Arnold in Zurich, Dominique Patton in Paris and Deena Beasley in Los Angeles; Editing by Savio D'Souza, Mark Potter and Arun Koyyur)

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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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By Jennifer Rigby and Lisa Baertlein

LONDON, Feb 21 (Reuters) - The U.S. government's foreign aid freeze has upended the supply chain for medical products crucial for fighting diseases including HIV and malaria in some of the world's poorest countries, and life-threatening gaps could persist for months, according to two sources familiar with the sector.

The U.S. Agency for International Development (USAID) usually places around $600 million of orders annually for products such as medicines, diagnostic tests and equipment like bed nets, as part of one of its biggest health supply contracts including HIV, malaria and reproductive health.

But the freeze has put orders and forecasts, particularly those made months in advance, on hold. That will likely have far-reaching implications for deliveries, cost, and timings, according to two sources with knowledge of the global health supply chain and others working in the sector.

Companies including the U.S. firm Abbott ABT.N, Switzerland's Roche ROG.S, and India's Cipla CIPL.NS are all likely to be affected, alongside others including Hologic HOLX.O, Viatris VTRS.O, Hetero and Aurobindo ARBN.NS, the first of the sources told Reuters.

"We are monitoring the situation closely. Our highest priority is to ensure that patients have continuous access to our diagnostic tests and treatments around the world," said a Roche spokesperson in response to Reuters' questions. The other companies either declined to comment or did not respond. The U.S. State Department did not immediately respond to requests for comment.

The first source said waivers from the U.S. government, intended to allow lifesaving work to restart, only applied to orders already moving around the world. Even those were not fully functional as the USAID payment system remained down, he said. Future funding and orders were more uncertain, even for companies where the raw materials have been assembled or the manufacturing capacity booked, he added.

Medicines and diagnostic tests for HIV and malaria, as well as preventive tools like bed nets and contraceptives, could be impacted, he said.

"There will be a huge backlog," said Fitsum Lakew Alemayehu, the African Union liaison manager at WACI Health, an African advocacy organization. "In Africa, millions have been on those treatments."

'BULLWHIP' EFFECT

The dismantling of USAID has already had significant impact across the globe, including shuttering HIV clinics, stranding emergency food aid, and halting research.

For medical supplies, the freeze could also hit prices, because companies have been able to operate more efficiently knowing that they would continue to get orders from USAID, all of the sources said.

Prashant Yadav, a medical supply chain expert and senior fellow at the nonpartisan Council on Foreign Relations think tank, said the upheaval could upend this system of advance demand forecasts entirely, hitting prices and ultimately risking budget shortfalls across other buyers, like governments and global health funders.

He said it was an example of the "bullwhip" effect in supply chains, where "any small changes, even if they are for a short duration of time, get amplified at every level in the system". The term is derived from a scientific concept in which movements of a whip are amplified from the origin - the hand cracking the whip - to the endpoint.

Even if the aid freeze ends after a 90-day review, as the Trump administration originally suggested, restarting production will be complex and there could be legal issues, several experts said.

"This is a huge mess to untangle," said Tom Cotter, chief executive officer at Health Response Alliance, a nonprofit organization dedicated to ensuring equitable access to health services during emergencies.

(Reporting by Jennifer Rigby, additional reporting by Maggie Fick in London, Rishika Sadam in Hyderabad)

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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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Adds analyst comment in paragraph 5

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

Source text: [ID:]

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

Further company coverage: CIPL.NS

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** Shares of generic drugmaker Cipla CIPL.NS rise ~3% to 1,536 rupees

** Prabhudas Lilladher upgrades stock to "buy" from "accumulate" and raises target price by 7% to 1,730 rupees

** Says CIPL's robust U.S. portfolio of respiratory drugs, injectable and peptides, and new product launches to drive $1 bln of sales in FY27

** Timely launch of cancer drug Abraxane and asthma drug Advair can yield $100-120 mln of sales on annual basis amid limited competition - brokerage

** Expects domestic market recovery to drive earnings in Q3 since U.S. sales might see a dip owing to supply issues for tumour drug Lanreotide

** Avg rating of analysts on CIPL a "hold"; median PT is at 1,660 rupees - LSEG data

** Stock up ~24% so far this year vs a 32% rise in Nifty pharma index .NIPHARM

(Reporting by Dimpal Gulwani in Bengaluru)

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Nov 28 (Reuters) - Cipla Ltd CIPL.NS:

• CIPLA LTD - GST AUTHORITY IMPOSES PENALTY OF 5.3 MILLION RUPEES ON CIPLA

Source text: ID:nBSE59Q7Yb

Further company coverage: CIPL.NS

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Nov 13 (Reuters) - Cipla Ltd CIPL.NS:

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

• COMPANY RECEIVED 8 (EIGHT) OBSERVATIONS IN FORM 483

Further company coverage: CIPL.NS

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Rewrites, adds CFO comment from earnings call

By Rishika Sadam and Kashish Tandon

HYDERABAD/BENGALURU Nov 5 (Reuters) - Indian generic drugmaker Dr Reddy's Laboratories' REDY.NS second-quarter profit was hit by one-time charges related to its joint venture with Nestle India and Nicotinell acquisition, the company said on Tuesday.

The company also reported an impairment charge due to supply chain constraints in U.S. affecting a particular generic medical product.

Reddy's reported a 9.5% fall in its consolidated net profit after tax to 13.42 billion rupees ($159.6 million) for the quarter ended Sept. 30.

Analysts on average had estimated a profit of 14.01 billion rupees, as per data compiled by LSEG.

To diversify its portfolio beyond generic drugs and boost its consumer health business, the drugmaker invested 7.34 billion rupees during the quarter in a joint venture with Nestle India, announced in April, to make vitamin supplements.

The company also acquired nicotine replacement product, Nicotinell, from Haleon HLN.L in June.

During the quarter, the company had charged off a debt tax asset following a change in government's land tax laws which also hit the profit, Chief Financial Officer MV Narasimham said on the post-earnings call.

The drugmaker's total revenue jumped 16.5% to 80.38 billion rupees, surpassing analysts' estimates of an 11% rise, as its revenue from North America climbed 17%.

Generic drugmakers such as Dr Reddy's, Cipla CIPL.NS and Zydus ZYDS.NS have been struggling in their key United States market with lower pricing issues amid stiff competition, termed as price erosion.

However, the company said the impact of price erosion was low during the quarter, aiding to double-digit growth of its business in North America.

Generic drugmakers have also been benefitting from strong sales across North America for their generic versions of Bristol-Myers Squibb's BMY.N popular cancer treatment drug Revlimid since its launch in 2022. Their diabetic drug portfolio has also been contributing to growth in North America.

Revenue from the India business, the company's second-biggest market, climbed 18% to 13.97 billion rupees.

($1 = 84.0710 Indian rupees)

(Reporting by Kashish Tandon and Rishika Sadam in Bengaluru; Editing by Savio D'Souza, Janane Venkatraman and Vijay Kishore)

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** Shares of Cipla CIPL.NS gain 1% to 1,577.55 rupees, set for third straight session of gain

** Brokerage Nomura upgrades stock to "buy" from "neutral", hikes PT to 1,800 rupees from 1,568 rupees

** Brokerage says US FDA's clearance for CIPL's Goa facility is "sentiment-positive"

** The facility was under a warning letter by the FDA since 2020 but was classified as "voluntary action indicated" last week - a move that analysts said removes a "key regulatory overhang" on the stock

** Moreover, Nomura says it does not expect CIPL to face rising competition in the latter half of FY26 and FY27 on the back of two additional generic approvals during Q2

** Avg rating on CIPL, peer Dr Reddy's REDY.NS at "hold" while Sun Pharma SUN.NS rated "buy" - LSEG data

** CIPL's 26.5% YTD gain higher than REDY's ~9% but smaller than SUN's ~41% YTD climb

(Reporting by Kashish Tandon in Bengaluru)

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** Shares of Cipla Ltd CIPL.NS rise as much as 10% to 1,560.05 rupees

** More than 464,000 shares traded in block deals in the price range of 1,520.80 to 1,560.05 rupees apiece - include 2 block deals at a premium to stock's last closing price of 1,537 rupees, LSEG data shows

** Emkay says the USFDA classification of the June 2024 inspection of co's Goa facility as Voluntary Action Indicated (VAI) removes a key regulatory overhang for co; retains 'REDUCE'

** More than 4.7 mln shares traded, 2.5x their 30-day moving avg

** Mean rating of 33 brokerages rating the stock is "hold"; their median PT is 1,641.50 rupees - LSEG data

** CIPL top gainer on Nifty pharma index .NIPHARM, which is up 1.3%

(Reporting by Meenakshi Maidas in Bengaluru)

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** India's NSE Nifty 50 .NSEI and BSE Sensex .BSESN decline 0.4% each

** Five of 13 major subsectors trading lower, with heavyweight financials .NIFTYFIN dropping 1.3% after rising 2.6% in the previous two sessions

** Drugmaker Cipla CIPL.NS drops 3.9%, most on Nifty, after flagging supply crunch, product launch delays in key US market

** But more domestically-focussed small- .NIFSMCP100 and mid-caps .NIFMDCP100 rise 1.1% and 0.6%, respectively

** While their relative valuations are still higher vs large-caps, a recent drop has made valuations more attractive, say two analysts

** "Historically, quality small- and mid-caps often recover substantially after corrections, which has brought investor interest in the segment after the drop in October" says G Chokkalingam, managing director of research at Equinomics Research

** Lackluster Q2 earnings so far and persistent foreign selling have weighed on markets in October so far

** Nifty down 5.5% so far this month; small- and mid-caps shed 4% and 6% in the same period

(Reporting by Hritam Mukherjee and Bharath Rajeswaran in Bengaluru)

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