HDFC Securities: Cipla’s gRevlimid Settlement - The Unaccounted Upside 
An employee holds tablets on the production line at pharmaceutical plant (Photographer Oliver Bunic/Bloomberg)

HDFC Securities: Cipla’s gRevlimid Settlement - The Unaccounted Upside 

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

HDFC Securities Report

Cipla Ltd. settles patent litigation with Celgene (Bristol Myers Squibb) in the U.S. for gRevlimid (approximately 7.6 billion U.S. dollar).

As per the settlement terms, the company is licensed to sell volume-limited quantity after March 2022 and without volume-restriction after January 31, 2026 subject to product approval from the U.S. Food and Drug Administration.

While the details pertaining to launch date and market share are not disclosed, the opportunity can add a net present value of Rs 40 per share to our target price in a base case scenario (assuming 5-10% market share, 30-50% price erosion between FY23-26).

Click on the attachment to read the full report:

HDFC Securities Cipla Company Update .pdf


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