Lupin

Lupin
Standalone Balance Sheet
------------------- in Rs. Cr. ------------------Mar '15
Mar '14
Mar '13
Mar '12
Mar '11
12 mths
12 mths
12 mths
12 mths
12 mths
Total Share Capital
89.90
89.68
89.51
89.33
89.24
Equity Share Capital
89.90
89.68
89.51
89.33
89.24
Share Application Money
0.00
0.00
0.00
0.00
0.00
Preference Share Capital
0.00
0.00
0.00
0.00
0.00
Reserves
8,937.8
4
6,889.36
4,757.20
3,645.08
3,063.42
Networth
9,027.7
4
6,979.04
4,846.71
3,734.41
3,152.66
Secured Loans
20.95
50.00
411.30
580.82
637.46
Unsecured Loans
19.14
89.40
143.99
411.83
342.00
Sources Of Funds
Total Debt
40.09
139.40
555.29
992.65
979.46
9,067.8
3
7,118.44
5,402.00
4,727.06
4,132.12
Mar '15
Mar '14
Mar '13
Mar '12
Mar '11
12 mths
12 mths
12 mths
12 mths
12 mths
3,063.3
4
3,056.96
2,762.91
2,335.41
1,869.09
0.00
0.00
0.00
0.00
0.00
Less: Accum. Depreciation
1,027.7
4
877.50
749.26
627.93
514.46
Net Block
2,035.6
0
2,179.46
2,013.65
1,707.48
1,354.63
Capital Work in Progress
489.96
267.05
240.12
357.33
442.09
Investments
3,444.2
3
1,163.66
688.04
687.29
680.88
Inventories
1,739.5
1
1,372.24
1,330.83
1,123.56
841.11
Sundry Debtors
2,515.2
1
2,859.92
1,874.27
1,490.80
1,234.28
59.30
146.28
20.12
19.20
37.46
Total Current Assets
4,314.0
2
4,378.44
3,225.22
2,633.56
2,112.85
Loans and Advances
723.90
810.35
878.70
773.05
621.32
0.00
0.00
0.00
0.00
0.00
5,037.9
5,188.79
4,103.92
3,406.61
2,734.17
Total Liabilities
Application Of Funds
Gross Block
Less: Revaluation Reserves
Cash and Bank Balance
Fixed Deposits
Total CA, Loans & Advances
2
Deferred Credit
0.00
0.00
0.00
0.00
0.00
Current Liabilities
1,341.2
4
1,367.80
1,332.67
1,193.81
880.29
Provisions
598.64
312.72
311.06
237.84
199.36
Total CL & Provisions
1,939.8
8
1,680.52
1,643.73
1,431.65
1,079.65
Net Current Assets
3,098.0
4
3,508.27
2,460.19
1,974.96
1,654.52
0.00
0.00
0.00
0.00
0.00
Total Assets
9,067.8
3
7,118.44
5,402.00
4,727.06
4,132.12
Contingent Liabilities
366.40
538.52
484.51
557.28
235.67
Book Value (Rs)
200.84
155.65
108.30
83.61
70.66
Miscellaneous Expenses
Source : Dion Global Solutions Limited
Profit & Loss account of Lupin
------------------- in Rs. Cr. ------------------Mar '15
Mar '14
Mar '13
Mar '12
12 mths
12 mths
12 mths
12 mths
12 mths
9,845.98
9,019.86
7,184.41
5,426.85
4,530.23
93.51
80.48
61.90
42.02
35.35
9,752.47
8,939.38
7,122.51
5,384.83
4,494.88
180.63
415.38
23.31
3.49
16.58
Income
Sales Turnover
Excise Duty
Net Sales
Other Income
Stock Adjustments
Total Income
170.80
76.21
182.44
132.53
0.51
10,103.90
9,430.97
7,328.26
5,520.85
4,511.97
3,511.88
3,223.46
2,924.46
2,377.44
1,921.18
336.39
309.36
299.76
257.13
196.83
Expenditure
Raw Materials
Power & Fuel Cost
Employee Cost
1,052.55
844.32
713.08
581.22
491.23
Other Manufacturing Expenses
0.00
0.00
0.00
0.00
0.00
Selling and Admin Expenses
0.00
0.00
0.00
0.00
0.00
1,649.20
1,726.12
1,483.73
1,139.71
927.20
0.00
0.00
0.00
0.00
0.00
6,550.02
6,103.26
5,421.03
4,355.50
3,536.44
Mar '15
Mar '14
Mar '13
Mar '12
Mar '11
Preoperative Exp Capitalised
Total Expenses
12 mths
12 mths
12 mths
12 mths
12 mths
Operating Profit
3,373.25
2,912.33
1,883.92
1,161.86
958.95
PBDIT
3,553.88
3,327.71
1,907.23
1,165.35
975.53
4.90
20.99
33.28
28.68
27.57
3,548.98
3,306.72
1,873.95
1,136.67
947.96
Interest
PBDT
Depreciation
336.79
167.63
150.14
131.96
104.28
Other Written Off
0.00
0.00
0.00
0.00
0.00
Profit Before Tax
3,212.19
3,139.09
1,723.81
1,004.71
843.68
0.00
0.00
0.00
0.00
0.00
3,212.19
3,139.09
1,723.81
1,004.71
843.68
Extra-ordinary items
PBT (Post Extra-ord Items)
Tax
814.84
814.87
463.38
200.34
33.70
Reported Net Profit
2,397.35
2,324.22
1,260.43
804.37
809.98
Total Value Addition
3,038.14
2,879.80
2,496.57
1,978.06
1,615.26
0.00
0.00
0.00
0.00
0.00
337.17
269.01
179.01
142.92
133.86
68.64
24.78
30.43
23.19
21.75
4,494.88
4,483.76
4,475.29
4,466.42
4,462.01
53.34
51.84
28.16
18.01
18.15
Equity Dividend (%)
375.00
300.00
200.00
160.00
150.00
Book Value (Rs)
200.84
155.65
108.30
83.61
70.66
Preference Dividend
Equity Dividend
Corporate Dividend Tax
Per share data (annualised)
Shares in issue (lakhs)
Earning Per Share (Rs)
Lupin Limited is a transnational pharmaceutical company

based in Mumbai. It is the seventh-largest [10] company
by market capitalization and the 10th-largest generic
pharmaceutical company by revenue [12] globally.[13] Lupin is
the fifth-largest generic pharmaceutical company in the US by
prescription-led market share [14] and 3rd largest Indian
pharmaceutical company by revenue.[15] It has the distinction
of being the fastest growing generic pharmaceutical player in
the US[16] and Japan;,[17] and is the 4th largest and the fastest
growing generic pharmaceutical player in South Africa.[18]
History and evolution[edit]

Lupin was founded in 1968 by Dr. Desh Bandhu Gupta,
[19]
then an Associate Professor at BITS-Pilani, Rajasthan.
Named after theLupin flower because of its inherent qualities

and what it personifies and stands for, the company was
created with a vision to fight life-threatening infectious
diseases and to manufacture drugs of the highest social
priority.
Lupin first gained recognition when it became one of the
worlds largest manufacturers of tuberculosis drugs.[20] The
company today has a significant market share in key markets
in the cardiovascular (prils and
statins), Diabetology, asthma, pediatrics, CNS, GI, antiinfectives and NSAIDs therapy segments. It also has a global
leadership position in the anti-TB
and Cephalosporin segments. The companys R&D
endeavours have resulted in significant progress in its new
chemical entity (NCE) program. Lupins foray into advanced
drug delivery systems has resulted in the development of
platform technologies that are being used to develop valueadded generic pharmaceuticals. Its manufacturing facilities,
spread across India and Japan, have played a critical role in
enabling the company realize its global aspirations.

Benchmarked to International standards, these facilities are
approved by international regulatory agencies including
the US FDA, UK MHRA, Japans MHLW, TGA
Australia, WHO, and the MCC South Africa.
In July 2015 the company announced its intention to acquire
Gavis Pharmaceuticals and Novel Laboratories for $880
million.[21][22]
Research and development[edit]

Lupins research program covers the entire pharma product
chain. The companys R&D program is headquartered in the
Lupin Research Park located near Pune that houses over
1400 scientists. Lupins R&D covers:
Generics Research
Process Research
Pharmaceutical Research
Advanced Drug Delivery Systems (ADDS) Research

Intellectual Property Management
Novel Drug Discovery and Development (NDDD)
Biotechnology Research
Businesses[edit]
Lupins businesses encompass the entire pharmaceutical
value chain, ranging from branded and generic
formulations, APIs, advanced drug delivery systems to
biotechnology. The companys drugs reach 70
countries[23] with a footprint that covers advanced markets
such as USA, Europe, Japan,[24] Australia as well as
emerging markets including India,[25] the Philippines and

South Africa to name a few.
Key markets and businesses[edit]

USA
Headquartered in Baltimore, Maryland, Lupin
Pharmaceuticals Inc. (LPI) ], the company's US
subsidiary is a $891 million enterprise.[26] It has a presence
in the branded and generics markets of the US. In the
branded business, Lupin operates in the CVS
and Pediatric segments. The company is the market
leader in 28 products out of the 77 products marketed in
the US generics market, of which it is amongst the Top 3
by market share in 57 of these products (IMS Health,
December 2014): Suprax (Cefixime), a paediatric
antibiotic, is Lupins top-selling product here. Other
products in Lupin's branded portfolio include Antara<
(Fenofibrate), Locoid lotion, Alinia (Nitazoxanide) and
InspiraChambers (Anti-static valved holding chamber).
The company is also the 5th largest and fastest growing
generics player in the US (5.3% market share by
prescriptions, IMS Health). Lupin's US brands business
contributed 9% of total US sales whereas the generics
business contributed 91% during FY 2014-15.[27]
India Region Formulations (IRF)
Lupins IRF business focuses on Lifestyle
diseases and Chronic disease therapy segments,
particularly in Cardiology, Central Nervous
System (CNS), Diabetology, Anti-Asthma, Anti-Infective,
Gastro Intestinal and Oncology. The IRF business
contributed 24% of the companys overall revenues for FY
2014-15, growing by 20% and recording revenues
of29676 million (US$440 million) for FY 2014-15 as
compared to 24794 million (US$360 million) for FY
2013-14.
It has 10 manufacturing plants and 2 Research plants in
India, as Jammu(J&K),Mandideep & Indore(Madhya
pradesh), Ankaleswar & Dabasa (Gujarat), Tarapur,
Aurangabad and Nagpur (Maharashtra) and Goa; where
research centre at Pune and Aurangabad.[28] Among these
the baby plant is Nagpur plant which will the biggest
formulation unit for Lupin in coming year.
Europe
Lupins focus in the European Union encompasses AntiInfectives, Cardiovascular, and CNS therapy areas, along
with niche opportunities in segments like Oral
Contraceptives, Dermatology and Ophthalmics. The
companys presence in France is by way of a trade
partnership; in Germany, it operates through its acquired
entity Hormosan Pharma GmbH. ] (Hormosan); [29] while
the UK business is a direct-to-market initiative.
Japan
Lupin is the fastest-growing Top 10 generic
pharmaceuticals player in Japan (IMS)[citation needed]. It operates
in Japan through its subsidiary, Kyowa Pharmaceutical
Industry Co. Ltd. (Kyowa), a company acquired in 2007, [30]
[31]
and Irom, Pharmaceutical Co. Ltd (IP), acquired in
2011.[32][33] Kyowa has an active presence in Neurology,

Cardiovascular,Gastroenterology and the Respiratory
therapy segments. I'rom is a niche injectables company.
In 2014, Lupin entered into a strategic joint venture
agreement with Toyama-based Japanese
pharmaceuticals company, Yoshindo Inc. to create YL
Biologics (YLB).[34] YLB will be jointly managed by both
partners and wil be responsible for conducting clinical
development of certain biosimilars including regulatory
fillings and obtaining marketing authorization in Japan.
South Africa
Lupin's South African subsidiary, Pharma Dynamics (PD)
[35]
is the fastest growing and the 4th largest generic
company in the South African market (IMS). [citation needed] The

company is a market leader in the Cardiovascular
segment and has a growing presence in Neurology,
Gastroenterology and the Over the Counter (OTC)
segments.
Australia
Lupin entered the Australian market through its
subsidiary, Generic Health Pte. Ltd. (GH). [36] It
subsequently acquired the worldwide marketing rights to
the over-100-year-old Australian brand Goanna,[37] used
for pain management.
Philippines
Lupin's Philippines subsidiary Multicare Pharmaceuticals
(Multicare),[38] is a branded generic company focused on
Women's Health, Pediatrics, Gastro-Intestinal and
Diabetes care. FY 2012 also marked its foray into the
Neurology segment when it entered into a strategic
marketing partnership with Sanofi.[39]
Mexico & Latin America
In 2014, Lupin acquired 100% equity stake in
Laboratories Grin, S.A. De C.V. (Grin), Mexico, a specialty
pharmaceutical company engaged in the development,
manufacturing and commercialization of branded
ophthalmic products. This marked their entry into Mexico
and the larger Latin American pharmaceuticals market. In
May 2015, Lupin entered the Brazilian market with its
acquisition of 100% stake in Medqumica Indstria
Farmacutica S.A., Brazil, (Medqumica).[40]
Anti-Tuberculosis
Lupin is a global leader in Cephalosporins,
Cardiovasculars and the anti-TB space. The company is

also a strategic supplier of anti-TB products to the Stop
TB Partnership, with its formulations supplied to more
than 50 countries through GDF procurement.
Rgwduen is also a global leader in anti-TB APIs, and is
associated with the Revised National Tuberculosis
Control Program of the Government of India. It supplies to
various Government agencies, the Stop TB
Partnership and various other international agencies
like Pan American Health Organization (PAHO), Mdecins
Sans Frontires (MSF) and the Damien
Foundation. Ethambutol, Rifampicin and Pyrazinamide ar
e the companys top selling TB molecules.[citation needed]
Biotechnology research
The Lupin Biotechnology Research Group, based out
of Wakad, near Pune is focussed on
developing biosimilars. As of May 2013, it has a pipeline
of 10 biosimilar products under development, and is close
to getting marketing authorization for 2 of its oncology
products for the Indian market. Lupin has competencies
for the complete development and manufacture of
recombinant protein therapeutic products from high
yielding and proprietary microbial and mammalian cell
culture platforms. The Biotech R&D infrastructure offers a
range of product development capabilities ranging from
clone development, process optimization, analytical
method development, bioassay, formulation, stability
studies, non-clinical and clinical studies backed by a
sound understanding of regulatory and IP aspects. The
companys biotech development programs are in
compliance of and follow IC, EMEA, and Indian
Regulatory guidelines.
Corporate social responsibility[edit]
Lupin established the Lupin Human Welfare & Research

Foundation on 2 October 1988. Its chief objective was to
provide an alternative sustainable, replicable and ever
evolving model of holistic rural development. It started
with a few small rural development projects covering
around 35 villages in Bharatpur District, Rajasthan. Its
efforts have touched the lives of over a million people in
3100 villages in the states of Rajasthan, Madhya
Pradesh, Maharashtra and Uttarakhand
https://www.google.co.in/url?
sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&
uact=8&ved=0ahUKEwizufak7TLAhWFPo4KHQoLAeUQFggbMAA&url=https%3A%2F
%2Fen.wikipedia.org%2Fwiki
%2FLupin_Limited&usg=AFQjCNE2YicgGOhNmHdTcIbElR
bWjt01Zw
Cipla
Balance Sheet of Cipla
------------------- in Rs. Cr. -------------------
Mar '15
Mar '14
Mar '13
Mar '12
Mar
12 mths
12 mths
12 mths
12 mths
12 mth
Total Share Capital
160.59
160.58
160.58
160.58
160.5
160.59
160.58
160.58
160.58
160.5
0.00
0.00
0.00
0.00
0.0
0.00
0.00
0.00
0.00
0.0
Reserves
10,920.5
9
9,922.09
8,699.97
7,380.73
6,443.4
Networth
11,081.18
10,082.67
8,860.55
7,541.31
6,603.9
0.67
0.00
9.49
10.00
2.9
Unsecured Loans
1,379.94
877.34
956.32
2.20
437.5
Total Debt
1,380.61
877.34
965.81
12.20
440.4
Total Liabilities
12,461.7
9
10,960.01
9,826.36
7,553.51
7,044.4
Mar '15
Mar '14
Mar '13
Mar '12
Mar '1
12 mths
12 mths
12 mths
12 mths
12 mth
5,935.63
5,394.36
4,983.81
4,298.18
3,928.4
8.97
8.97
8.97
8.97
8.9
2,342.01
1,870.17
1,565.52
1,295.52
1,060.8
Net Block
3,584.65
3,515.22
3,409.32
2,993.69
2,858.6
360.71
376.69
350.34
343.45
253.0
Investments
4,421.10
3,587.13
2,601.82
1,035.15
570.6
Inventories
3,289.20
2,511.16
2,343.37
1,824.50
1,883.1
Sundry Debtors
2,058.91
1,728.10
1,645.22
1,519.31
1,497.0
82.76
46.04
105.07
55.06
83.9
5,430.87
4,285.30
4,093.66
3,398.87
3,464.1
Loans and Advances
1,385.52
1,150.69
1,029.10
1,213.66
1,292.2
0.00
0.00
0.00
0.00
0.0
6,816.39
5,435.99
5,122.76
4,612.53
4,756.4
0.00
0.00
0.00
0.00
0.0
2,219.61
1,636.96
1,380.91
1,190.78
1,174.5
501.45
318.06
276.97
240.53
219.8
2,721.06
1,955.02
1,657.88
1,431.31
1,394.4
Net Current Assets
4,095.33
3,480.97
3,464.88
3,181.22
3,362.0
Sources Of Funds
Secured Loans
Gross Block
Fixed Deposits
Deferred Credit
Current Liabilities
Provisions
Total Assets
0.00
0.00
0.00
0.00
0.0
12,461.7
10,960.01
9,826.36
7,553.51
7,044.4
9
Book Value (Rs)
1,760.36
1,201.36
3,993.66
1,320.07
1,110.9
138.00
125.57
110.35
93.92
82.2
Profit & Loss account of Cipla
------------------- in Rs. Cr. ------------------Mar '15
Mar '14
Mar '13
Mar '12
Mar
12 mths
12 mths
12 mths
12 mths
12 mt
10,224.72
9,479.41
8,202.42
6,977.50
6,331.
92.94
99.12
0.00
0.00
0.
10,131.78
9,380.29
8,202.42
6,977.50
6,331.
Other Income
147.91
280.28
229.13
148.30
91.
Stock Adjustments
349.05
158.12
290.75
-11.24
138.
10,628.74
9,818.69
8,722.30
7,114.56
6,561.
4,414.37
4,002.79
3,440.15
2,947.97
3,136.
198.19
191.84
211.17
211.32
183.
Income
Sales Turnover
Excise Duty
Net Sales
Total Income
Expenditure
Raw Materials
Power & Fuel Cost
Employee Cost
1,505.58
1,284.75
969.28
728.21
540.
0.00
0.00
0.00
0.00
0.
0.00
0.00
0.00
0.00
0.
2,401.38
2,069.50
1,753.43
1,496.90
1,288.
0.00
0.00
0.00
0.00
0.
8,519.52
7,548.88
6,374.03
5,384.40
5,149.
Mar '15
Mar '14
Mar '13
Mar '12
Mar '
12 mths
12 mths
12 mths
12 mths
12 mt
Operating Profit
1,961.31
1,989.53
2,119.14
1,581.86
1,320.
PBDIT
2,109.22
2,269.81
2,348.27
1,730.16
1,412.
136.05
127.86
33.38
26.63
12.
1,973.17
2,141.95
2,314.89
1,703.53
1,399.
Total Expenses
Interest
PBDT
Depreciation
433.20
323.61
303.03
282.07
248.
Other Written Off
0.00
0.00
0.00
0.00
0.
Profit Before Tax
1,539.97
1,818.34
2,011.86
1,421.46
1,151.
0.00
0.00
0.00
0.00
0.
1,539.97
1,818.34
2,011.86
1,421.46
1,151.
358.88
430.00
504.75
297.50
191.
Reported Net Profit
1,181.09
1,388.34
1,507.11
1,123.96
960.
4,105.15
3,546.09
2,933.88
2,436.43
2,012.
0.00
0.00
0.00
0.00
0.
160.59
160.58
160.58
160.58
224.
32.69
27.29
27.29
26.05
36.
8,029.60
8,029.21
8,029.21
8,029.21
8,029.
14.71
17.29
18.77
14.00
11.
Equity Dividend (%)
100.00
100.00
100.00
100.00
140.
Book Value (Rs)
138.00
125.57
110.35
93.92
82.
Tax
Preference Dividend
Equity Dividend
Cipla Limited is an Indian multinational pharmaceutical and biotechnology company,

headquartered in Mumbai,India,[3][4][5] Belgium, Surrey in the European
Union and Miami, Florida, in the United States; with manufacturing facilities
in Goa (eight), Bengaluru (one), Baddi (one), Indore (one), Kurkumbh (one), Patalganga (on
e), and Sikkim(one), along with field stations in Delhi, Pune, and Hyderabad.[6] Cipla
primarily develops medicines to treatcardiovascular disease, arthritis, diabetes, weight
control and depression; other medical conditions.[7][8][9]
As of 17 September 2014, its market capitalisation was 517 billion (US$7.6 billion), making
it India's 42nd largest publicly traded company by market value.[10][11][12]
History[edit]
It was founded by Dr. Khwaja Abdul Hamied as 'The Chemical, Industrial & Pharmaceutical
Laboratories' in 1935 in Mumbai.[13][14] The name of the Company was changed to 'Cipla
Limited' on 20 July 1984.[14] In the year 1985, US FDA approved the company's bulk drug
manufacturing facilities.[15] Led by the founders son Yusuf Hamied, a Cambridge-educated
chemist, the company became a global icon for its role in defying Western multinational
pharmaceutical companies in order to provide generic AIDS and other drugs to treat poor
people in the developing world.[16] In 1994, Cipla launched Deferiprone, the worlds first oral
iron chelator.[13] In 2001, Cipla offered medicines (antiretrovirals) for HIV treatment at a
fractional cost (less than $350 per year per patient). [17]
In 2012, the company slashed prices of three life-saving cancer drugs by 50-64%. [18]
Products and services[edit]

Cipla sells active pharmaceutical ingredients to other manufacturers as well as
pharmaceutical and personal care products,[19] including Escitalopram (antidepressant),Lamivudine and Fluticasone propionate.[2] They are the world's largest
manufacturer of antiretroviral drugs[19][20]
Operations[edit]
Cipla has 34 manufacturing units in 8 locations across India and has presence in 170
countries.[21][22] Exports accounted for 48% 49.48 billion (US$730 million) of its revenue for
FY 2013-14.[1] Cipla spent INR 517 cr. (5.4% of revenue) in FY 2013-14 on R&D activities.
[1]
The primary focus areas for R&D were development of new formulations, drug-delivery
systems and APIs (active pharmaceutical ingredients). Cipla also cooperates with other
enterprises in areas such as consulting, commissioning, engineering, project appraisal,
quality control, know-how transfer, support, and plant supply.
As on 31 March 2013, the company had 22,036 employees (out of which 2,455 were
women (7.30%) and 23 were employees with disabilities (0.1%)). [2] During the FY 2013-14,
the company incurred 12.85 billion (US$190 million) on employee benefit expenses.[1]
Listings and shareholding[edit]

The equity shares of Cipla are listed on the Bombay Stock Exchange,[23] where it is a
constituent of the BSE SENSEX index,[24] and the National Stock Exchange of India,[25]where
it is a constituent of the CNX Nifty.[26] Its Global Depository Receipts (GDRs) are listed on
the Luxembourg Stock Exchange.[1]
As on 30 September 2014, the promoter group, Dr. Y. K. Hamied and his family, held around
36.80% equity shares in Cipla. Around 148,000 individual shareholders held approx.
18.67% of its shares.[27] LIC is the largest non-promoter shareholder with approx. 6.45%
shareholding in the company by the end of September 2013. [28]
Shareholders (as on 31-March-2014)
Shareholding[27]
Promoter Group
36.80%
Foreign Institutional Investors (FII)
23.32%
Individual shareholders
19.00%
Insurance companies
06.59%
Private Corporate Bodies
04.68%
Mutual Funds and UTI
04.43%
NRI/FCB/Others
03.46%
GDRs
01.10%
Total
100.0%
Awards and recognitions[edit]
In 2012, Cipla received the Thomson Reuters India Innovation Award. [29]
Cipla won Dun & Bradstreet American Express Corporate Awards for 2006. [30]
In 2005, Forbes included Cipla in the 200 'Best under a billion' list of best small Asian
companies.[31]
In 1980, Cipla won Chemexcil Award for Excellence for exports. [15]
Criticism[edit]
Sale of emergency pregnancy termination pills over-the-counter[edit]

In August 2007, Cipla launched an emergency contraception pill sold over the counter,
[32]
which was controversial with regard to its marketing, its being available without a
prescription, and the amount of drug in the pill. [33][34]
Sale of generic drugs[edit]

In the late 1960s, Cipla began manufacturing a new, patented drug, propranolol, and when
the drug's patent holder, ICI, protested to the Indian government, the CEO of Cipla
successfully lobbied the government of Indira Gandhi to change India's patent laws to
eliminate patents that directly covered drugs,and instead to allow only patents that
coveredmethods to make drugs.[35] This change made propranolol and other patented
drugs, generic and led to criticism of both India's patent laws and Cipla. [36] India reinstated
patents on drugs in 2005.[35]
sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0ahUKEwjon4
DIlLTLAhUCkY4KHbY_CFAQFggbMAA&url=https%3A%2F%2Fen.wikipedia.org%2Fwiki
%2FCipla&usg=AFQjCNFhS_iK9KTvR6dyJMM-oTEtr6YvpQ
dr. reddy
profit and loss
Mar '15
Mar '14
Mar '13
Mar '12
Mar
12 mths
12 mths
12 mths
12 mths
12 mt
10,093.90
9,810.00
8,505.80
6,739.70
5,304.
82.90
82.00
71.80
0.00
0.
10,011.00
9,728.00
8,434.00
6,739.70
5,304.
222.80
151.50
141.70
81.80
119.
28.90
114.40
100.60
0.00
0.
10,262.70
9,993.90
8,676.30
6,821.50
5,424.
3,150.00
2,755.40
2,771.90
2,122.90
1,749.
Income
Sales Turnover
Excise Duty
Net Sales
Other Income
Stock Adjustments
Total Income
Expenditure
Raw Materials
Power & Fuel Cost
Employee Cost
297.10
258.10
282.60
177.50
144.
1,490.90
1,184.90
1,138.10
866.10
727.
92.40
78.50
59.20
103.90
89.
0.00
0.00
0.00
0.00
0.
2,618.40
2,803.80
2,297.10
2,032.00
1,487.
0.00
0.00
0.00
0.00
0.
Total Expenses
7,648.80
7,080.70
6,548.90
5,302.40
4,198.
Mar '15
Mar '14
Mar '13
Mar '12
Mar '
12 mths
12 mths
12 mths
12 mths
12 mt
Operating Profit
2,391.10
2,761.70
1,985.70
1,437.30
1,106.
PBDIT
2,613.90
2,913.20
2,127.40
1,519.10
1,226.
Interest
PBDT
Depreciation
63.80
78.30
61.40
63.60
5.
2,550.10
2,834.90
2,066.00
1,455.50
1,220.
490.20
380.50
312.80
301.10
247.
Other Written Off
0.00
0.00
0.00
0.00
0.
Profit Before Tax
2,059.90
2,454.40
1,753.20
1,154.40
972.
0.00
0.00
0.00
0.00
0.
2,059.90
2,454.40
1,753.20
1,154.40
972.
380.50
521.60
487.70
346.80
158.
Reported Net Profit
1,679.40
1,932.80
1,265.50
912.40
893.
4,498.80
4,325.30
3,777.00
3,179.50
2,448.
0.00
0.00
0.00
0.00
0.
340.80
306.20
254.80
233.10
190.
69.40
52.00
43.30
37.80
115.
1,703.81
1,701.09
1,698.36
1,695.60
1,692.
Tax
Preference Dividend
Equity Dividend
98.57
113.62
74.51
53.81
52.
Equity Dividend (%)
400.00
360.00
300.00
275.00
225.
Book Value (Rs)
624.13
548.41
458.29
396.19
355.
Mar '15
Mar '14
Mar '13
Mar '12
Mar
12 mths
12 mths
12 mths
12 mths
12 mt
Total Share Capital
85.20
85.10
84.90
84.80
84.
Sources Of Funds
85.20
85.10
84.90
84.80
84.
0.00
0.00
0.00
0.00
0.
0.00
0.00
0.00
0.00
0.
Reserves
10,548.80
9,243.90
7,698.50
6,633.00
5,935.
Networth
10,634.00
9,329.00
7,783.40
6,717.80
6,020.
Secured Loans
Unsecured Loans
Total Debt
Total Liabilities
0.80
1.30
3.50
0.50
0.
3,124.00
2,663.20
1,585.60
1,532.90
1,443.
3,124.80
2,664.50
1,589.10
1,533.40
1,444.
13,758.80
11,993.50
9,372.50
8,251.20
7,464.
Mar '15
Mar '14
Mar '13
Mar '12
Mar '
12 mths
12 mths
12 mths
12 mths
12 mt
5,645.00
4,802.70
4,121.70
3,396.50
2,915.
Gross Block
0.00
0.00
0.00
0.00
0.
2,395.60
2,054.40
1,734.70
1,499.70
1,224.
Net Block
3,249.40
2,748.30
2,387.00
1,896.80
1,691.
488.30
576.10
423.20
617.60
546.
Investments
3,862.30
2,806.50
2,379.20
2,477.70
2,462.
Inventories
1,723.30
1,592.10
1,526.50
1,326.70
1,063.
Sundry Debtors
4,711.70
4,561.50
2,963.90
1,943.50
1,770.
901.40
665.10
919.10
849.00
66.
7,336.40
6,818.70
5,409.50
4,119.20
2,899.
Loans and Advances
1,519.60
1,558.50
1,390.20
1,229.30
1,664.
0.00
0.00
0.00
0.00
0.
8,856.00
8,377.20
6,799.70
5,348.50
4,564.
Fixed Deposits
Deferred Credit
0.00
0.00
0.00
0.00
0.
2,107.90
2,001.60
2,165.40
1,744.10
1,502.
589.30
513.00
451.20
345.30
296.
2,697.20
2,514.60
2,616.60
2,089.40
1,799.
Net Current Assets
6,158.80
5,862.60
4,183.10
3,259.10
2,765.
0.00
0.00
0.00
0.00
0.
13,758.80
11,993.50
9,372.50
8,251.20
7,464.
1,919.40
2,051.80
2,097.30
2,503.90
2,488.
624.13
548.41
458.29
396.19
355.
Current Liabilities
Provisions
Total Assets
Book Value (Rs)
Dr. Reddy's Laboratories, is an Indian multinational pharmaceutical company based

in Hyderabad, Telangana, India. The company was founded by Anji Reddy, who previously
worked in the mentor institute, Indian Drugs and Pharmaceuticals Limited, of Hyderabad,
India.[2] Dr. Reddy's manufactures and markets a wide range of pharmaceuticals in India and
overseas. The company has over 190 medications, 60 active pharmaceutical

ingredients (APIs) for drug manufacture, diagnostic kits, critical care,
and biotechnologyproducts.
Dr. Reddy's began as a supplier to Indian drug manufacturers, but it soon started exporting
to other less-regulated markets that had the advantage of not having to spend time and
money on a manufacturing plant that would gain approval from a drug licensing body such
as the U.S. Food and Drug Administration (FDA). By the early 1990s, the expanded scale
and profitability from these unregulated markets enabled the company to begin focusing on
getting approval from drug regulators for their formulations and bulk drug manufacturing
plants in more-developed economies. This allowed their movement into regulated markets
such as the US andEurope. In 2014, Dr. Reddy Laboratories was listed among 1200 of
India's most trusted brands according to the Brand Trust Report2014, a study conducted by
Trust Research Advisory, a brand analytics company.[3]
By 2007, Dr. Reddy's had six FDA plants producing active pharmaceutical ingredients in
India and seven FDA-inspected and ISO 9001 (quality) and ISO 14001 (environmental
management) certified plants making patient-ready medications five of them in India and
two in the UK.[4]
In 2010, the family-controlled Dr Reddy's denied [5] that it was in talks to sell its generics
business in India to US pharmaceutical giantPfizer,[6] which had been suing the company for
alleged patent infringement after Dr Reddy's announced that it intended to produce a
generic version of atorvastatin, marketed by Pfizer as Lipitor, an anti-cholesterol medication.
[7][8]
Reddy's was already linked to UK pharmaceuticals multinational Glaxo Smithkline.[9]
Company history[edit]
Dr. Reddy's originally launched in 1984 producing active pharmaceutical ingredients. In

1986, Reddy's started operations on branded formulations. Within a year Reddy's had
launched Norilet, the company's first recognized brand in India. Soon, Dr. Reddy's obtained
another success with Omez, its branded omeprazole ulcer and reflux oesophagitis
medication launched at half the price of other brands on the Indian market at that time.
Within a year, Reddy's became the first Indian company to export the active ingredients for
pharmaceuticals to Europe. In 1987, Reddy's started to transform itself from a supplier of
pharmaceutical ingredients to other manufacturers into a manufacturer of pharmaceutical

products.
International expansion[edit]
The company's first international move took it to Russia in 1992. There, Dr. Reddy's formed
a joint venture with the country's biggest pharmaceuticals producer, Biomed. They pulled
out in 1995 amid accusations of scandal, involving "a significant material loss due to the
activities of Moscow's branch of Reddy's Labs with the help of Biomed's chief executive".
[10]
Reddy's sold the joint venture to the Kremlin-friendly Sistema group. In 1993, Reddy's
entered into a joint venture in the Middle East and created two formulation units there and in
Russia. Reddy's exported bulk drugs to these formulation units, which then converted them
into finished products. In 1994, Reddy's started targeting the US generic market by building
state of art manufacturing facility.[citation needed]
New drug discovery

Biopharma Finished Dosage Unit I in Hyderabad
Reddy's path into new drug discovery involved targeting speciality generics products in
western markets to create a foundation for drug discovery. Development of speciality
generics was an important step for the company's growing interest in the development of
new chemical entities. The elements involved in creating a speciality generic, such as
innovation in the laboratory, developing the compound, and sending the sales team to the
market, are also stages in the development of a new specialty drug. Starting with speciality
generics allowed the company to gain experience with those steps before moving on to
creating brand-new drugs.
Reddy's also invested heavily in establishing R&D labs and is the only Indian company to
have significant R&D being undertaken overseas. Dr. Reddy's Research Foundation was
established in 1992 and in order to do research in the area of new drug discovery. At first,
the foundation's drug research strategy revolved around searching for analogues. Focus
has since changed to innovative R&D, hiring new scientists, especially Indian students
studying abroad on doctoral and post-doctoral courses. In 2000, the Foundation set up an
American laboratory in Atlanta, dedicated to discovery and design of novel therapeutics.
The laboratory is called Reddy US Therapeutics Inc (RUSTI) and its main aim is the
discovery of next-generation drugs using genomics andproteomics. Reddy's research thrust
focused on large niche areas in western markets anti-cancer, antidiabetes, cardiovascularand anti-infection drugs.[citation needed]
Reddy's international marketing successes were built on a strong manufacturing base which
itself was a result of inorganic growththrough acquisition of international and national
facilities. Reddy's merged Cheminor Drug Limited (CDL) with the primary aim of supplying
active pharmaceutical ingredients to the technically demanding markets of North
America and Europe. This merger also gave Reddy's an entry into the value-added generics
business in the regulated markets of APIs.
Expansion and acquisition[edit]

By 1997, Reddy's was ready for the next major step. From being an API and bulk drug
supplier to regulated markets like the USA and the UK, and a branded formulations supplier
in unregulated markets like India and Russia, Reddy's made the transition into generics by
filing an Abbreviated New Drug Application (ANDA) in the USA. The same year, Reddy's
out-licensed a molecule for clinical trials to Novo Nordisk, a Danish pharmaceutical
company.
It strengthened its Indian manufacturing operations by acquiring American Remedies Ltd. in
1999. This acquisition made Reddys the third largest pharmaceutical company in India,
after Ranbaxy and Glaxo (I) Ltd., with a full spectrum of pharmaceutical products, which
included bulk drugs, intermediates, finished dosages, chemical synthesis, diagnostics and
biotechnology.[citation needed]
Reddys started exploiting Para 4 filing as a strategy in bringing new drugs to the market at
a faster pace. In 1999 it submitted a Para 4 application for Omeprazole, the drug that had
been the cornerstone of its success in India. In December 2000, Reddys had undertaken its
first commercial launch of a generic product in the USA., and its first product with market
exclusivity was launched there in August 2001. The same year, it also became the first nonJapanese pharmaceutical company from the Asia-Pacific region to obtain aNew York Stock
Exchange listing, ground-breaking achievements for the Indian pharmaceutical industry.[citation
needed]
In 2001 Reddys became the first Indian company to launch the generic drug, fluoxetine (a
generic version of Eli Lilly and Companys Prozac) with 180-day market exclusivity in the
USA. Prozac had sales in excess of $1 billion per year in the late 1990s. Barr
Laboratories of the U.S. obtained exclusivity for all of the approved dosage forms (10 mg,
20 mg) except one (40 mg), which was obtained by Reddys. Lilly had numerous other
patents surrounding the drug compound and had already enjoyed a long period of patent
protection. The case to allow generic sales was heard twice by the Federal Circuit Court,
and Reddys won both hearings. Reddys generated nearly $70 million in revenue during the
initial six-month exclusivity period. With such high returns at stake, Reddys was gambling
on the success of the litigation; failure to win the case could have cost them millions of
dollars, depending on the length of the trial.
The fluoxetine marketing success was followed by the American launch of Reddy's housebranded ibuprofen tablets in 400, 600 and 800 mg strengths, in January 2003. Direct
marketing under the Reddys brand name represented a significant step in the companys
efforts to build a strong and sustainable US generic business. It was the first step in building
Reddys fully-fledged distribution network in the US market. [citation needed]
In 2015, Dr. Reddy's Laboratories bought the established brands of Belgian drugmaker
UCB SA in South Asia for 8 billion rupees ($128.38 million). [11]
American IPO and expansion into Europe[edit]

In 2001 Reddys completed its US initial public offering of $132.8 million, secured
by American Depositary Receipts. At that time the company also became listed on the New
York Stock Exchange. Funds raised from the initial public offering helped Reddys move into
international production and take over technology-based companies.
In 2002, Reddys started its European operations by acquiring two pharmaceutical firms in
the United Kingdom. The acquisition of BMS Laboratories and its wholly owned subsidiary,
Meridian UK, allowed Reddys to expand geographically into the European market. In 2003
Reddys also invested $5.25 million (USD) in equity capital into Bio Sciences Ltd.
Auriegene Discovery Technologies, a contract research company, was established as a fully
owned subsidiary of Reddys in 2002. Auriegene's objective was to gain experience in drug
discovery through contract research for other pharmaceutical companies. Reddys entered
into a venture investment agreement with ICICI Bank, an established Indian banking
company. Under the terms of the agreement, ICICI Venture agreed to fund the
development, registration and legal costs related to the commercialization of ANDAs on a
pre-determined basis. Upon commercialization of these products, Dr. Reddy's pays ICICI
Venture royalty on net sales for a period of 5 years.
Global expansion[edit]
The company elected to expand globally, and acquired other entities. In March 2002, Dr.
Reddys acquired BMS Laboratories, Beverley, and its wholly owned subsidiary Meridian
Healthcare, for 14.81 million Euros. These companies deal in oral solids, liquids and
packaging, with manufacturing facilities in London and Beverley in the UK. Recently, Dr.
Reddys entered into an R&D and commercialization agreement with Argenta Discovery
Ltd., a private drug development company based in the UK, for the treatment of chronic
obstructive pulmonary disease (COPD).
Dr. Reddys entered into a 10-year agreement with Rheoscience A/S of Denmark for the
joint development and commercialization of Balaglitazone (DRF-2593), a molecule for the
treatment of type-2 diabetes. Rheoscience holds this products marketing rights for
the European Union and China, while the rights for the US and the rest of the world will be
held by Dr. Reddys. Dr. Reddys conducted clinical trials of its cardiovascular drug RUS
3108 in Belfast, Northern Ireland, in 2005. The trials were conducted to study the safety and
the pharmacokinetic profiles of the drug, which is intended for the treatment of
atherosclerosis, a major cause of cardiovascular disorders.
Dr. Reddys entered into a marketing agreement with Eurodrug Laboratories, a
pharmaceutical company based in Netherlands, for improving its product portfolio for
respiratory diseases. It introduced a second-generation xanthine bronchodilator,
Doxofylline, which is used for the treatment of asthma and COPD patients.
In 2004, Reddys acquired Trigenesis Therapeutics Inc; a US-based private dermatology
company. This acquisition gave Reddys access to proprietary products and technologies in
the dermatology sector.
Dr. Reddys Para 4 application strategy for generic business received a severe setback
when Reddys lost the patent challenge in the case of Pfizers drug Norvasc (amlodipine
maleate), a drug indicated for the treatment of hypertension and angina. The cost involved
in patent litigation as well as the unexpected loss of the patent challenge affected Reddys
plans to start speciality business in the US generic markets.
In March 2006, Dr. Reddys acquired Betapharm Arzneimittel GmbH from 3i for 480 million
Euros. This is one of the largest-ever foreign acquisitions by an Indian pharmaceutical
company. Betapharm is Germanys fourth-largest generics pharmaceutical company, with a
3.5% market share, including 150 active pharmaceutical ingredients.
Reddys has promoted Indias first integrated drug development company Perlecan Pharma
Pvt Ltd together with ICICI ventures capital fund management company Ltd
andCitigroup Venture Capital International growth partnership Mauritius Ltd. The combined
entity will undertake clinical development and out-licensing of new chemical entity assets.
Dr. Reddy's is presently licensed by Merck & Co. to sell an authorized generic version of the
popular drug simvastatin (Zocor) in the USA. Since Dr. Reddy's has a license from Merck, it
was not subject to the exclusivity period on generic simvastatin. [12]
As of 2006, Dr. Reddys Laboratories exceeded $500 million USD in revenues, flowing from
their APIs, branded formulations and generics segments; the former two segments account
for almost 75% of revenues. Dr. Reddy's deals in and manages all the processes, from the
development of the API to the submission of finished dosage dossiers to the regulatory
agencies.
Issues and recalls[edit]
Drug discovery problems[edit]

In September 2005, Dr. Reddy's spun off its drug discovery and research wing into a
separate company called Perlecan Pharma Private Limited. At the time, this was hailed as
an innovative move, but in 2008, the company had to be wound down due to funding
constraints.[13] Dr. Reddy's was the first Indian pharma company to attempt such an effort to
de-couple risk of drug discovery from the parent company by creating a separate company
with external source of funding. Perlecan Pharma was partially funded by ICICI Venture
Capital and Citigroup Venture International, both of which held a 43% stake in Perlecan for
an estimated $22.5 million. However, the company was forced to buy back the Perlecan
shares from ICICI and Citigroup due to doubts regarding the commercial viability of the drug
candidates that were in Perlecan's pipeline. At that point, Perlecan became a wholly owned
subsidiary. In the board meeting of 23 October 2008, the company chose to
amalgamate/absorb Perlecan, thereby making it an in-house research facility, as it was
before 2005.[13]
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0n7TLAhVBVI4KHYHtCL0QFggbMAA&url=https%3A%2F%2Fen.wikipedia.org%2Fwiki
%2FDr._Reddy%27s_Laboratories&usg=AFQjCNG-ou1_gEG9bmLcS3iRcPdifuamtg

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Lupin

Standalone Balance Sheet

------------------- in Rs. Cr. ------------------Mar '15

Total Share Capital

Equity Share Capital

Share Application Money

Preference Share Capital

Less: Accum. Depreciation

Capital Work in Progress

Total Current Assets

Loans and Advances

Cash and Bank Balance

Total CL & Provisions

Net Current Assets

Book Value (Rs)

Source : Dion Global Solutions Limited

Profit & Loss account of Lupin

------------------- in Rs. Cr. ------------------Mar '15

Other Manufacturing Expenses

Selling and Admin Expenses

Other Written Off

Profit Before Tax

Reported Net Profit

Total Value Addition

Equity Dividend (%)

Book Value (Rs)

Lupin Limited is a transnational pharmaceutical company

History and evolution[edit]

then an Associate Professor at BITS-Pilani, Rajasthan.

Named after theLupin flower because of its inherent qualities

enabling the company realize its global aspirations.

Research and development[edit]

Advanced Drug Delivery Systems (ADDS) Research

emerging markets including India,[25] the Philippines and

Key markets and businesses[edit]

and Irom, Pharmaceutical Co. Ltd (IP), acquired in

2011.[32][33] Kyowa has an active presence in Neurology,

is the fastest growing and the 4th largest generic

company in the South African market (IMS). [citation needed] The

Cardiovasculars and the anti-TB space. The company is

Corporate social responsibility[edit]

Lupin established the Lupin Human Welfare & Research

------------------- in Rs. Cr. -------------------

Total Share Capital

Equity Share Capital

Share Application Money

Preference Share Capital

Less: Accum. Depreciation

Total Current Assets

Loans and Advances

Total CL & Provisions

Net Current Assets

Capital Work in Progress

Cash and Bank Balance

Source : Dion Global Solutions Limited

Profit & Loss account of Cipla

------------------- in Rs. Cr. ------------------Mar '15

Other Manufacturing Expenses

Selling and Admin Expenses

Other Written Off

Profit Before Tax

PBT (Post Extra-ord Items)

Reported Net Profit

Total Value Addition