Cipla’s Cost Saving Benefit Continues To Drive Q3 Earnings: Prabhudas Lilladher 
Tablets exit a machine. (Photographer Krisztian Bocsi/Bloomberg)

Cipla’s Cost Saving Benefit Continues To Drive Q3 Earnings: Prabhudas Lilladher 

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Prabhudas Lilladher Report

Cipla Ltd.’s performance in recent quarter was due to -

1. Covid-19 led products in domestic market 2. launch of gAlbuterol in U.S. and 3. savings in marketing related overheads.

We believe benefit from Covid-19 products will subside gradually and core India formulations to grow in 8-10% range, while next leg of growth will be led by U.S. markets given that -

  1. launch of one inhalation product each year,
  2. further ramp-up of gAlbuterol
  3. launch of gRevlimid in FY23E and
  4. approval of Tramadol IV (injection).

Click on the attachment to read the full report:

Prabhudas Lilladher Cipla Q3FY21 Result Update.pdf

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