Cipla

Cipla's wholly owned subsidiary Invagen Pharmaceuticals entered into an exclusive partnership with Qilu Pharmaceutical to license and supply QL2107, a biosimilar to Keytruda (pembrolizumab), in the United States. Qilu was responsible for development, regulatory registration and supply, while Cipla USA was to commercialise the product subject to regulatory approval. It was the company's third such strategic partnership in roughly a year, following a Pfizer collaboration and the 31 August licensing deal with SBP Group for a HER2 antibody-drug conjugate. Cipla's US business generated about $162m in the June quarter, while the company reported revenue of ₹7,119 crore for the quarter and about ₹29,200 crore for FY26.

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

• CIPLA - ENTERS EXCLUSIVE PARTNERSHIP WITH QILU FOR KEYTRUDA BIOSIMILAR IN US

• CIPLA - QILU TO DEVELOP AND SUPPLY QL2107; CIPLA USA TO COMMERCIALIZE IN US

Source text: ID:nBSE4ld8Zz

Further company coverage: CIPL.NS

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Cipla and SBP Group signed an exclusive licensing and supply agreement for TQB2102, a HER2 bispecific antibody-drug conjugate developed by SBP subsidiary CTTQ. The agreement gave Cipla rights to develop and commercialise the asset in India, South Africa and five other emerging markets, while CTTQ retained manufacturing and supply responsibilities. TQB2102 was being evaluated in HER2-expressing cancers and had received three Breakthrough Therapy Designations from China's National Medical Products Administration. Cipla's India business generated ₹3,452 crore in Q1 FY27, with chronic therapies accounting for 60.4% of its domestic mix.

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Aug 31 (Reuters) - Cipla Ltd CIPL.NS:

• CO AND SBP GROUP SIGN EXCLUSIVE LICENSING AGREEMENT FOR HER2 BISPECIFIC ADC TQB2102

• RECEIVES EXCLUSIVE RIGHTS TO DEVELOP TQB2102 IN INDIA, SOUTH AFRICA AND 5 MARKETS

Source text: ID:nBSE68xVd

Further company coverage: CIPL.NS

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The USFDA classified an inspection of Cipla subsidiary InvaGen Pharmaceuticals' Unit 3 manufacturing facility in Central Islip, New York, as Voluntary Action Indicated (VAI). The inspection ran from 13 to 17 July 2026. The visit had produced one Form 483 observation, and its classification had remained pending. Cipla's US business generated about $162 million in revenue in the first quarter of FY27, or roughly 19% of group revenue.

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Cipla received seven Form 483 observations after the USFDA conducted a follow-up current good manufacturing practices inspection at its Pithampur manufacturing facility in India from 17 to 25 August 2026. The company committed to addressing the observations comprehensively within the stipulated time. Recent US regulatory notices included an establishment inspection report closing a February 2026 pre-approval inspection at Cipla's New York InvaGen site, while a separate July inspection there produced one observation awaiting classification. Cipla's India business generated ₹3,452 crore in Q1 FY27, about 48% of quarterly revenue, and chronic therapies accounted for 60.4% of its India mix.

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Updates data on Biogen manufacturing plants in paragraph 18

Aug 11 (Reuters) - Global drugmakers are expanding their U.S. footprint, pledging billions of dollars to ramp up manufacturing capacity and research in the country.

Pharmaceutical companies including Eli Lilly, Pfizer, AstraZeneca and Roche have announced roughly $500 billion in U.S. investments as they seek to strengthen infrastructure, mitigate supply-chain risks and reassure investors.

Pfizer PFE.N

Pfizer reached a deal with President Donald Trump on September 30 to invest $70 billion in research and development and domestic manufacturing, and received a three-year grace period exempting its products from the pharmaceutical-targeted tariffs.

GSK GSK.L

The London-based drugmaker plans to invest $30 billion in U.S. research and development and supply chain infrastructure over five years.

Eli Lilly LLY.N

U.S. President Donald Trump said in January that Eli Lilly plans to build six plants in the United States.

Lilly said last year that it planned to spend at least $27 billion to build four U.S. plants to expand production and bolster medical supply chains. The company has since announced details on three plants, in Alabama, Virginia and Texas.

Lilly in January said it will build a $3.5 billion pharmaceutical manufacturing facility in Pennsylvania, its fourth new site, in an effort to expand U.S. production and bolster medical supply chains.

Johnson & Johnson JNJ.N

The drugmaker plans to raise U.S. investments by 25%, totaling $55 billion, over the next four years. It plans to build four plants, including one in Wilson, North Carolina, and another at Tokyo-based Fujifilm Biotechnologies' manufacturing site in Holly Springs, North Carolina, over the next 10 years.

The company said in June it has invested about $1 billion in Jacksonville, Florida, to strengthen U.S.-based manufacturing for its eye care business. The new facility is expected to be fully operational in 2028, J&J said.

Roche ROG.S

The Swiss drugmaker said in April last year it would invest $50 billion in the U.S. over the next five years.

A month later, it announced an additional $550 million investment to expand its Indianapolis diagnostics manufacturing hub. The expansion will span Indiana, Pennsylvania, Massachusetts, and California, creating more than 12,000 jobs.

In January, Roche said it will more than double its investment in its drug manufacturing facility in Holly Springs, North Carolina, to about $2 billion, up from the over $700 million announced in May 2025.

AstraZeneca AZN.L

The Anglo-Swedish drugmaker will invest $50 billion in U.S. manufacturing by 2030. The investment will fund a new drug substance facility in Virginia, its largest single-site global investment, alongside expansions in Maryland, Massachusetts, California, Indiana and Texas.

It has already started technology transfers and is managing inventory in 2025 to minimize any tariff hit. Company executives have said the impact would be "very short-lived."

Novartis NOVN.S

The Swiss drugmaker plans to spend $23 billion to build and expand 10 facilities in the U.S. over the next five years. This includes building six new manufacturing plants and expanding its San Diego research and development site, which is expected to create more than 1,000 jobs.

Sanofi SASY.PA

The French drugmaker plans to invest at least $20 billion in the U.S. through 2030 to boost manufacturing and research. Sanofi plans to expand its U.S. manufacturing capacity through direct investments in the company's sites and partnerships with other domestic manufacturers.

Chief Financial Officer François Roger said in July the potential tariffs are expected to have a limited impact in 2025, as the company already has inventory in place in the U.S.

Biogen BIIB.O

The U.S. drugmaker will invest $2 billion more in its existing manufacturing plants in North Carolina, adding capacity for gene-targeting therapies and automation. The company has eight factories in the state.

Merck MRK.N

The U.S. drugmaker has begun building a $3 billion pharmaceutical manufacturing plant in Virginia as part of its over $70 billion investment to expand domestic manufacturing and research and development.

It will also invest $1 billion in a new Delaware plant to make biologics and cancer drug Keytruda, to boost U.S. production and potentially create over 4,500 jobs. It also opened a $1 billion facility at its North Carolina site in March.

Merck's animal health unit will invest $895 million to expand its Kansas manufacturing and R&D site, part of a broader $9 billion U.S. investment through 2028.

CEO Robert Davis in July flagged minimal impact from potential tariffs in 2025, and that the company remained well-positioned due to inventory management and moving of manufacturing to the U.S.

Amgen AMGN.O

The U.S.-based biopharma firm plans to invest $900 million to expand its Ohio manufacturing facility, bringing total investment in the state to $1.4 billion and adding 750 jobs. In December, the company committed $1 billion to build a second facility in Holly Springs, North Carolina.

Amgen said in September it is investing more than $600 million to build a new research and development center at its headquarters in Thousand Oaks, California.

The drugmaker announced it will invest $650 million to expand drug manufacturing at its facility in Juncos, Puerto Rico, a move expected to create nearly 750 jobs.

Amgen said it would invest an additional $300 million in its U.S. manufacturing network, expanding its biologics facility in Puerto Rico and supporting hundreds of construction jobs.

Novo Nordisk NOVOb.CO

The Danish pharmaceutical company said in August its strong U.S. manufacturing footprint positions it well for tariff challenges, describing itself as "very U.S.-centric and U.S.-focused".

AbbVie ABBV.N

The U.S. drugmaker said in January it has committed $100 billion over the next decade to U.S.-based research and development as part of its three-year deal with the Trump administration to reduce drug prices.

It has 11 manufacturing sites in the U.S. and has said it is "fairly insulated" from any tariff impact this year, given inventory management actions.

The company said in February that it plans to invest $380 million to build two manufacturing facilities at its current North Chicago, Illinois, campus, to support the production of its neuroscience and obesity medications.

Gilead Sciences GILD.O

Earlier this year, the drugmaker announced $11 billion in new planned investment in the U.S. to add to its domestic manufacturing and research heft, taking its total pledged investment to $32 billion.

Gilead said in September that it started work on a pharmaceutical development and manufacturing hub at its headquarters in Foster City, California, in addition to which, it is currently developing two other sites.

Bristol Myers Squibb BMY.N

The drugmaker said it would invest about $2.3 billion to build a new drug manufacturing facility in Houston, Texas, creating nearly 500 skilled jobs and about 2,000 construction-related jobs, as part of its broader $40 billion U.S. investment commitment.

Cipla CIPL.NS

The Indian drugmaker is expanding its U.S. manufacturing footprint by investing in capacity expansion for complex respiratory products at its advanced facilities in Fall River, Massachusetts, and Central Islip, New York.

CSL CSL.AX

Australia's CSL said in November it would invest $1.5 billion in the U.S. to manufacture plasma-derived therapies, expanding its footprint in the country over the next five years.

In March, the company announced the expansion of its plasma therapy manufacturing facility in Kankakee, Illinois, which is expected to be operational by 2031.

(Reporting by Siddhi Mahatole, Kamal Choudhury, Puyaan Singh, Sneha S K, Sahil Pandey and Mariam Sunny in Bengaluru; Editing by Tasim Zahid, Sahal Muhammed, Shinjini Ganguli and Maju Samuel)

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Changes dateline, adds Bristol Myers investment plan

Aug 10 (Reuters) - Global drugmakers are expanding their U.S. footprint, pledging billions of dollars to ramp up manufacturing capacity and research in the country.

Pharmaceutical companies including Eli Lilly, Pfizer, AstraZeneca and Roche have announced roughly $500 billion in U.S. investments as they seek to strengthen infrastructure, mitigate supply-chain risks and reassure investors.

Pfizer PFE.N

Pfizer reached a deal with President Donald Trump on September 30 to invest $70 billion in research and development and domestic manufacturing, and received a three-year grace period exempting its products from the pharmaceutical-targeted tariffs.

GSK GSK.L

The London-based drugmaker plans to invest $30 billion in U.S. research and development and supply chain infrastructure over five years.

Eli Lilly LLY.N

U.S. President Donald Trump said in January that Eli Lilly plans to build six plants in the United States.

Lilly said last year that it planned to spend at least $27 billion to build four U.S. plants to expand production and bolster medical supply chains. The company has since announced details on three plants, in Alabama, Virginia and Texas.

Lilly in January said it will build a $3.5 billion pharmaceutical manufacturing facility in Pennsylvania, its fourth new site, in an effort to expand U.S. production and bolster medical supply chains.

Johnson & Johnson JNJ.N

The drugmaker plans to raise U.S. investments by 25%, totaling $55 billion, over the next four years. It plans to build four plants, including one in Wilson, North Carolina, and another at Tokyo-based Fujifilm Biotechnologies' manufacturing site in Holly Springs, North Carolina, over the next 10 years.

The company said in June it has invested about $1 billion in Jacksonville, Florida, to strengthen U.S.-based manufacturing for its eye care business. The new facility is expected to be fully operational in 2028, J&J said.

Roche ROG.S

The Swiss drugmaker said in April last year it would invest $50 billion in the U.S. over the next five years.

A month later, it announced an additional $550 million investment to expand its Indianapolis diagnostics manufacturing hub. The expansion will span Indiana, Pennsylvania, Massachusetts, and California, creating more than 12,000 jobs.

In January, Roche said it will more than double its investment in its drug manufacturing facility in Holly Springs, North Carolina, to about $2 billion, up from the over $700 million announced in May 2025.

AstraZeneca AZN.L

The Anglo-Swedish drugmaker will invest $50 billion in U.S. manufacturing by 2030. The investment will fund a new drug substance facility in Virginia, its largest single-site global investment, alongside expansions in Maryland, Massachusetts, California, Indiana and Texas.

It has already started technology transfers and is managing inventory in 2025 to minimize any tariff hit. Company executives have said the impact would be "very short-lived."

Novartis NOVN.S

The Swiss drugmaker plans to spend $23 billion to build and expand 10 facilities in the U.S. over the next five years. This includes building six new manufacturing plants and expanding its San Diego research and development site, which is expected to create more than 1,000 jobs.

Sanofi SASY.PA

The French drugmaker plans to invest at least $20 billion in the U.S. through 2030 to boost manufacturing and research. Sanofi plans to expand its U.S. manufacturing capacity through direct investments in the company's sites and partnerships with other domestic manufacturers.

Chief Financial Officer François Roger said in July the potential tariffs are expected to have a limited impact in 2025, as the company already has inventory in place in the U.S.

Biogen BIIB.O

The U.S. drugmaker will invest $2 billion more in its existing manufacturing plants in North Carolina, adding capacity for gene-targeting therapies and automation. The company has seven factories in the state, with an eighth set to begin operations in late 2025.

Merck MRK.N

The U.S. drugmaker has begun building a $3 billion pharmaceutical manufacturing plant in Virginia as part of its over $70 billion investment to expand domestic manufacturing and research and development.

It will also invest $1 billion in a new Delaware plant to make biologics and cancer drug Keytruda, to boost U.S. production and potentially create over 4,500 jobs. It also opened a $1 billion facility at its North Carolina site in March.

Merck's animal health unit will invest $895 million to expand its Kansas manufacturing and R&D site, part of a broader $9 billion U.S. investment through 2028.

CEO Robert Davis in July flagged minimal impact from potential tariffs in 2025, and that the company remained well-positioned due to inventory management and moving of manufacturing to the U.S.

Amgen AMGN.O

The U.S.-based biopharma firm plans to invest $900 million to expand its Ohio manufacturing facility, bringing total investment in the state to $1.4 billion and adding 750 jobs. In December, the company committed $1 billion to build a second facility in Holly Springs, North Carolina.

Amgen said in September it is investing more than $600 million to build a new research and development center at its headquarters in Thousand Oaks, California.

The drugmaker announced it will invest $650 million to expand drug manufacturing at its facility in Juncos, Puerto Rico, a move expected to create nearly 750 jobs.

Amgen said it would invest an additional $300 million in its U.S. manufacturing network, expanding its biologics facility in Puerto Rico and supporting hundreds of construction jobs.

Novo Nordisk NOVOb.CO

The Danish pharmaceutical company said in August its strong U.S. manufacturing footprint positions it well for tariff challenges, describing itself as "very U.S.-centric and U.S.-focused".

AbbVie ABBV.N

The U.S. drugmaker said in January it has committed $100 billion over the next decade to U.S.-based research and development as part of its three-year deal with the Trump administration to reduce drug prices.

It has 11 manufacturing sites in the U.S. and has said it is "fairly insulated" from any tariff impact this year, given inventory management actions.

The company said in February that it plans to invest $380 million to build two manufacturing facilities at its current North Chicago, Illinois, campus, to support the production of its neuroscience and obesity medications.

Gilead Sciences GILD.O

Earlier this year, the drugmaker announced $11 billion in new planned investment in the U.S. to add to its domestic manufacturing and research heft, taking its total pledged investment to $32 billion.

Gilead said in September that it started work on a pharmaceutical development and manufacturing hub at its headquarters in Foster City, California, in addition to which, it is currently developing two other sites.

Bristol Myers Squibb BMY.N

The drugmaker said it would invest about $2.3 billion to build a new drug manufacturing facility in Houston, Texas, creating nearly 500 skilled jobs and about 2,000 construction-related jobs, as part of its broader $40 billion U.S. investment commitment.

Cipla CIPL.NS

The Indian drugmaker is expanding its U.S. manufacturing footprint by investing in capacity expansion for complex respiratory products at its advanced facilities in Fall River, Massachusetts, and Central Islip, New York.

CSL CSL.AX

Australia's CSL said in November it would invest $1.5 billion in the U.S. to manufacture plasma-derived therapies, expanding its footprint in the country over the next five years.

In March, the company announced the expansion of its plasma therapy manufacturing facility in Kankakee, Illinois, which is expected to be operational by 2031.

(Reporting by Siddhi Mahatole, Kamal Choudhury, Puyaan Singh, Sneha S K, Sahil Pandey and Mariam Sunny in Bengaluru; Editing by Tasim Zahid, Sahal Muhammed, Shinjini Ganguli and Maju Samuel)

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Aug 4 (Reuters) - Cipla Ltd CIPL.NS:

• CIPLA- INVAGEN HAS RECEIVED ESTABLISHMENT INSPECTION REPORT FROM USFDA, INDICATING CLOSURE OF INSPECTION

Source text: ID:nnAZN4TBMIX

Further company coverage: CIPL.NS

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

• CIPLA RECEIVES U.S. FDA APPROVAL FOR GENERIC ADVAIR DISKUS®

Source text: ID:nPn1Db0Tna

Further company coverage: CIPL.NS

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Cipla received US FDA approval for its generic Advair Diskus in all three strengths, a dry powder inhaler for asthma and COPD with a total US market of $908 million. The product is Cipla's first DPI approval from its US manufacturing network and is scheduled for launch in the second quarter of the 2026-27 financial year. The company had filed an amendment for the product during the previous fiscal year. The approval adds to its US respiratory portfolio, which already includes the recently launched gVentolin, as Cipla works to rebuild US revenues following the erosion of its Revlimid generic. The company's New York facility, where the product will be manufactured, received one Form 483 observation during an FDA inspection earlier in July.

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Adds background on HIV cases in paragraph 4, adds media codes for wider distribution

By Christy Santhosh

July 24 (Reuters) - Merck MRK.N said on Friday it signed seven voluntary licensing agreements with generic drug manufacturers to make and sell lower-cost versions of its experimental once-monthly oral HIV pill in 129 low- and lower-middle-income countries.

The drug, alimatravir, is currently in late-stage development. Merck said it is investing early in its product manufacturing capacity as trials continue.

Here are some details:

• Merck said the agreements are with three sub-Saharan Africa manufacturers - Aspen Pharmacare APNJ.J, Quality Chemical Industries and UCL - and four Indian companies, which are Aurobindo, Cipla, Emcure and Viatris.

• The royalty-free agreements with these companies cover both the public and private sectors and will enable supply of generic alimatravir in these 129 countries that account for a substantial majority of new HIV diagnoses globally, the drugmaker said.

• "This is the first time that sub-Saharan African manufacturers have been included in licenses from the very beginning." said Gregg Szabo, head of Merck's global vaccines and infectious diseases unit.

• Merck is still enrolling patients to test alimatravir, which is expected to provide one month of protection from HIV-1 starting within one hour after dosing.

• "We're likely not to have any trial results until the second half of next year, but this will give time for the generic licensees to start working to scale up their production" said Paul Schaper, head of global pharmaceutical public policy at Merck.

• In 2024, Gilead Sciences GILD.O granted royalty-free licenses to six generic drug manufacturers to make and sell cheaper copycat versions of its HIV prevention medicine, lenacapavir, in 120 low and lower-middle income countries.

• The World Health Organization has urged governments and drugmakers to improve access to affordable HIV medicines, including through voluntary licensing and greater generic competition.

• About 40.9 million people globally were living with HIV in 2025, with the sub-Saharan Africa accounting for more than half of all the people living with HIV worldwide , according to UNAIDS data.

(Reporting by Christy Santhosh in Bengaluru; Editing by Tasim Zahid)

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Cipla's board on 23 July 2026 approved the transition of Global CFO Ashish Adukia to an internal business leadership role, the company said in a stock exchange filing. Dinesh Jain, who currently serves as head of corporate finance, was appointed as the new Global CFO and KMP with effect from 24 July. Jain is a chartered accountant with over three decades of experience in strategic planning, corporate finance, taxation, and mergers. The decision was taken at a board meeting that also considered the company's first-quarter results, though the CFO change was disclosed separately. The leadership change follows the recent appointment of Achin Gupta as Managing Director and Global CEO in April 2026, suggesting a broader management reshuffle.

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Adds CEO comments from call, analyst's comment

By Rishika Sadam and Mridula Kumar

July 23 (Reuters) - India's Cipla CIPL.NS posted a bigger-than-expected fall in first-quarter profit on Thursday, logging its third straight quarterly decline as muted sales of a generic cancer drug and U.S. supply disruptions related to tumor treatment lanreotide weighed on results.

The drugmaker also appointed company veteran Dinesh Jain as its global finance chief, effective Friday. Currently head of corporate finance, Jain has been with Cipla for more than three decades and will succeed Ashish Adukia, who will move to another internal business leadership role.

Cipla has leaned more on its India business to offset weakness in the United States, where sales of the generic version of Bristol Myers Squibb's BMY.N Revlimid have fallen after losing exclusivity.

Its U.S. business was also hit after a U.S. Food and Drug Administration inspection at the facility of its sole lanreotide supplier led to a temporary halt in production.

India and North America together account for about two-thirds of the company's revenue.

Cipla's consolidated net profit fell 39.2% to 7.89 billion rupees ($81.73 million) in the quarter ended June 30, missing analysts' average estimate of 8.17 billion rupees, according to data compiled by LSEG.

Revenue from operations rose 2.3% to 71.19 billion rupees, beating estimates of 70.73 billion rupees.

Sales in India grew by a double-digit percentage in respiratory, anti-diabetes and cardiac chronic therapies, the company said.

It is also expanding in obesity treatments, including Yurpeak sold under a licensing agreement with Eli Lilly LLY.N.

Revenue from its North America business fell 21% to 15.32 billion rupees, while India revenue grew 12% to a record 34.52 billion rupees.

Adding to concerns over its largest market, U.S. President Donald Trump on Tuesday outlined a phased tariff plan for imported generic medicines, giving drugmakers a two-year window before duties take effect.

CEO Achin Gupta said on Thursday the company would monitor the evolving situation on how to manufacture more in the United States.

"We have experience in doing that. So whichever way it (situation) moves, we will be able to adapt," he said on a post-earnings call, adding that 35-40% of the company's manufacturing was within the U.S.

Cipla's respiratory franchise will be its biggest growth driver in the U.S. in the near term as the company expects a second product to be approved shortly, said Nirmal Bang analyst Niharika Agarwal.

Limited competition also provides the company more room to protect margins for its generic Ventolin and the yet-to-be approved Flovent inhalers.

($1 = 96.5375 Indian rupees)

(Reporting by Rishika Sadam and Mridula Kumar in Bengaluru; Editing by Rashmi Aich, Subhranshu Sahu and Joyjeet Das)

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Updates July 7 story to add July 8 Adani comment in paragraphs 8-9, 15, bullet

By Aditya Kalra

NEW DELHI, July 7 (Reuters) - An Indian investigation found that Mumbai international airport's duty-free shops run by billionaire Gautam Adani's business group breached the law by selling nicotine pouches, which the government considers a public health hazard, according to documents from the investigation.

Adani denies wrongdoing and is asking judges to declare that a law covering drugs and cosmetics does not apply to duty-free shops and nicotine pouches, according to court papers reviewed by Reuters. Lawyers say the case could set a precedent on how India regulates sales at such outlets and a government win could block sales of one of the world's fastest-growing nicotine products in India's airports.

India banned e-cigarettes and approved certain nicotine replacements like patches and chewing gums following a registration process under the Drugs and Cosmetics Act. Nicotine pouches remain illegal and unapproved.

INDIA DEFINES NICOTINE POUCHES AS 'A DRUG'

The Indian government says tobacco kills 1.35 million people each year in India. A government study in June called nicotine pouches "a new and largely unregulated public health concern", with widespread illegal sales and consumption among people aged 18 to 40.

After receiving complaints from anti-nicotine group Mothers Against Vaping, India's drug department inspected duty-free shops at Mumbai's international airport in March and found imported nicotine pouches were being sold in the departure zone without the necessary approvals, government documents show.

"Nicotine pouches also fall under the definition of a drug ... a valid registration certificate and import license are mandatory," an assistant drugs controller wrote in an April 2 letter to the airport's customs authority, attaching an "investigation report".

The government asked Mumbai Travel Retail, a joint venture led by Adani with Dubai's Flemingo, to discontinue sales of nicotine pouches and seek approvals, government letters show.

Adani did not respond to Reuters queries ahead of the story’s publication. Late on Wednesday, its spokesperson said in an email that the characterisation of "the matter as a 'breach of law' is premature and legally unsustainable", adding that Mumbai Travel Retail has “challenged the regulatory interpretation through judicial review.”

“International passengers arriving in India may lawfully carry nicotine pouches purchased overseas for personal consumption," the Adani statement said. "Yet the sale of identical products through an international duty-free channel has been treated differently. This apparent inconsistency forms part of the legal challenge."

Flemingo and the Indian health and customs authority did not respond to requests for comment.

Selling a drug without a license could draw a prison term of at least three years and a fine of at least 100,000 rupees ($1,000) or three times the value of the drugs confiscated, whichever is higher.

Reuters is first to report the details of the investigation into Adani sales and its court challenge in Mumbai.

Adani's firm has told authorities the shops in the international departure area conduct business "beyond the customs frontiers of India" and are outside the reach of domestic regulations, its non-public High Court filing shows.

CAN GUNS BE SOLD AT AIRPORT?

Asked about the Adani group's point, Murali Neelakantan, former general counsel at Indian drugmakers Cipla and Glenmark Pharmaceuticals, told Reuters: "If a murder occurs in the store, will Indian police have no powers to arrest? They will have ... Can (the store) sell guns or ammunition? No."

The Adani statement responded: "Firearms are prohibited from duty free retail world over because they pose an inherent threat to aviation safety. Drawing a parallel between firearms and regulated nicotine products has no bearing on the legal issues before the Court."

On June 24, judges in Mumbai's High Court said "no coercive action" should be taken on the existing stock of pouches at Mumbai's duty-free shops, scheduling the case for a July 14 hearing.

Adani runs eight airports in India and is targeting an $11 billion expansion that includes a bet on duty-free offerings. At Mumbai's international airport, it runs more than 30 duty-free shops.

In court, Adani said nicotine pouches "are not a drug" and are a "recent innovation" that was not anticipated by existing tobacco control laws, documents show.

Since August, Adani's firm imported Philip Morris' PM.N Zyn nicotine pouches in various flavours worth more than $29,000, and the White Fox brand from Swedish Smokeless Solutions worth $7,700, customs records showed. Those companies did not respond to Reuters queries.

Philip Morris says Zyn's U.S. sales doubled last year from 2023. The June Indian government study said both Zyn and White Fox were being sold by Indian vendors illegally.

Separately, Flemingo Dutyfree has told the High Court it operates shops at international seaports — including in Mumbai — and fears similar actions as it was "in the process of stocking" nicotine pouches, documents show.

Seeking licenses for nicotine pouches will compel suppliers to withdraw them from the market, making "the duty free industry in India unattractive to passengers," it said.

(Reporting by Aditya Kalra; Additional reporting by Arpan Chaturvedi; Editing by Thomas Derpinghaus and William Mallard)

((Email: [email protected]; X: @adityakalra;))

By Aditya Kalra

NEW DELHI, July 7 (Reuters) - An Indian investigation found that Mumbai international airport's duty-free shops run by billionaire Gautam Adani's business group breached the law by selling nicotine pouches, which the government considers a public health hazard, according to documents from an investigation.

Adani denies wrongdoing and is asking judges to declare that a law covering drugs and cosmetics does not apply to duty-free shops and nicotine pouches, according to court papers reviewed by Reuters. Lawyers say the case could set a precedent on how India regulates sales at such outlets and a government win could block sales of one of the world's fastest-growing nicotine products in India's airports.

India banned e-cigarettes and approved certain nicotine replacements like patches and chewing gums following a registration process under the Drugs and Cosmetics Act. Nicotine pouches remain illegal and unapproved.

Tobacco kills 1.35 million people each year in India and a government study in June called nicotine pouches "a new and largely unregulated public health concern," with widespread illegal sales and consumption among people aged 18 to 40.

After receiving complaints from anti-nicotine group Mothers Against Vaping, India's drug department inspected duty-free shops at Mumbai's international airport in March and found imported nicotine pouches were being sold in the departure zone without the necessary approvals, government documents show.

"Nicotine pouches also fall under the definition of a drug ... a valid registration certificate and import license are mandatory," an assistant drugs controller wrote in an April 2 letter to the airport's customs authority, attaching an "investigation report."

Mumbai Travel Retail, a joint venture led by Adani with Dubai's Flemingo, was asked to discontinue sales of nicotine pouches and seek approvals, government letters show.

Adani declined to comment. Flemingo and the Indian health and customs authority did not respond to requests for comment.

Selling a drug without a license could draw a prison term of at least three years and a fine of at least 100,000 rupees ($1,049), or three times the value of the drugs confiscated, whichever is higher.

Reuters is first to report the details of the investigation into Adani sales and its court challenge in Mumbai.

CAN GUNS BE SOLD AT AIRPORT?

Adani's firm has told authorities the shops in the international departure area conduct business "beyond the customs frontiers of India" and are outside the regulatory reach of domestic regulations, its non-public High Court filing shows.

"If a murder occurs in the store, will Indian police have no powers to arrest? They will have ... Can they sell guns or ammunition? No," said Murali Neelakantan, who was previously general counsel at Indian drugmakers Cipla and Glenmark Pharmaceuticals.

On June 24, judges in Mumbai's High Court said "no coercive action" should be taken on the existing stock of pouches at Mumbai's duty-free shops, scheduling the case for a July 14 hearing.

POUCHES A "RECENT INNOVATION"

Adani runs eight airports in India and is targeting an $11 billion expansion that includes a bet on duty-free offerings. At Mumbai's international airport, it runs more than 30 duty-free shops.

In court, Adani said nicotine pouches "are not a drug" and are a "recent innovation" that was not anticipated by existing tobacco control laws, documents show.

Since August, Adani's firm imported Philip Morris' PM.N Zyn nicotine pouches in various flavours worth more than $29,000, and the White Fox brand from Swedish Smokeless Solutions worth $7,700, customs records showed. The companies did not respond to Reuters queries.

Philip Morris says Zyn's U.S. sales in 2025 doubled from 2023. The June Indian government study said both Zyn and White Fox were being sold by Indian vendors illegally.

Separately, Flemingo Dutyfree has told the High Court it operates shops at international seaports - including in Mumbai - and fears similar actions as it was "in the process of stocking" nicotine pouches, documents show.

Seeking licenses for nicotine pouches will compel suppliers to withdraw them from the market, making "the duty free industry in India unattractive to passengers," it said.

(Reporting by Aditya Kalra; Additional reporting by Arpan Chaturvedi; Editing by Thomas Derpinghaus)

((Email: [email protected]; X: @adityakalra;))

By Rishika Sadam

June 12 (Reuters) - India's drug price regulator raised ceiling rates for two key platinum-based cancer drugs by 50% after a surge in raw material costs triggered widespread shortages, according to a government notification seen by Reuters.

The National Pharmaceutical Pricing Authority invoked special provisions to raise rates for the drugs after receiving federal government approval citing public interest, according to the notification dated June 11.

Patients in the world's most populous country have been grappling with shortages of platinum-based cancer drugs cisplatin and carboplatin, as hospitals, especially government-run ​facilities, run short.

The prices of the drugs, used to treat ovarian, lung and bladder cancers, are capped and controlled by the government.

The ceiling rate for cisplatin was raised to 10.89 rupees ($0.1144) per ml from 7.26 rupees, while that for carboplatin was increased to 90.74 rupees ($0.9530) per ml from 60.49 rupees excluding taxes, the notification showed.

"... The authority noted concerns regarding shortage and supply disruptions of carboplatin and cisplatin formulations, which are essential oncology medicines used in the treatment of various cancers," the NPPA said, adding that their uninterrupted availability is critical for public health.

The drugs are manufactured by several companies, including Cipla CIPL.NS, Intas Pharmaceuticals and oncology-focused firms such as Naprod Life Sciences and Venus Remedies VENR.NS.

The increase is a one-time revision and will be reviewed after six months, the NPPA said.
India is heavily dependent on imported platinum, which is used in industries ranging from automobiles and jewellery to chemicals and pharmaceuticals.

Supplies of the white metal from key producers such as South Africa have dwindled amid soaring costs, while the Middle East conflict has further disrupted supply chains and raised manufacturing expenses, doctors and industry executives have told Reuters.

The increase on drug price caps offers relief to medicine makers who had temporarily halted production as platinum prices more than doubled amid tight supplies, strong demand and shrinking inventories.

($1 = 95.2150 Indian rupees)

(Reporting by Rishika Sadam, Additional reporting by Abhinav Parmar in Bengaluru; Editing by Nivedita Bhattacharjee)

(([email protected]))

June 11 (Reuters) - Cipla Ltd CIPL.NS:

• USFDA CLASSIFIED VERNA MANUFACTURING FACILITY INSPECTION AS VOLUNTARY ACTION INDICATED

Source text: ID:nnAZN4T1SB5

Further company coverage: CIPL.NS

(([email protected];;))

By Rishika Sadam

June 9 (Reuters) - Kumar Ajit spent more than a week calling dozens of pharmacies in India before he tracked down the platinum-based cancer drug cisplatin his 70-year old mother needed to treat her liver cancer.

"I could not even get the desired dosage," added Ajit, who eventually found the medicine in New Delhi, the capital, and had it shipped to his village in the eastern state of Bihar. "I'm unsure what I will do for the next dose."

The 52-year-old bank employee's struggle highlights India's growing shortage of platinum-based cancer drugs, forcing patients to hunt for supplies as hospitals run short, especially those run by the government.

India relies on imported platinum, with key supplies from countries such as South Africa drying up on a surge in prices as well as disruptions from conflict in the Middle East, doctors and industry executives said.

"There has been a supply crunch for two months, but it has become worse over the last two weeks with a shortage," said Rajiv Singhal, general secretary of the All India Organisation of Chemists and Druggists, with 1.24 million members.

"Drug distributors have been calling us complaining that they're not getting these drugs."

A range of generic drugmakers turns out India's platinum-based chemotherapy, such as Cipla CIPL.NS and Intas Pharmaceuticals INTA.NS, he said, along with smaller oncology specialists like Naprod Life Sciences and Venus Remedies VENR.NS.

Doctors and drug distributors said supplies of drugs such as cisplatin and carboplatin, used to treat cancers of the lung, ovaries and gall bladder, have been tight in recent weeks.

"I get about 10 calls a day from patients asking for help with cisplatin," said Pavan Kumar of Kethan Pharma Distributors in the southern tech hub of Hyderabad.

Doctors estimate at least a quarter of India's chemotherapy patients have been prescribed platinum-based drugs.

"They have been a backbone for cancer treatment," said Mintu Mathew Abraham, a consultant oncologist at PRS Hospital in the southern coastal state of Kerala. "Without them, it would be hard to continue treatment."

Platinum prices have rallied on expectations of a fourth consecutive year of market deficits, driven by constrained mine supply, robust investment demand and dwindling inventories as the metal replaces palladium in automotive applications.

DRUGMAKERS SEEK PRICE REVISION

Drugmakers are unable to pass on higher costs as the government caps the prices of the medicines, though they have sought an increase of roughly 50% in the price caps.

India's pharmaceuticals department did not respond to requests for comment.

Some manufacturers have cut production.

The struggle to find platinum-based raw material has prompted Naprod Life Sciences to temporarily halt output of cisplatin and carboplatin, for example.

"The shortage is primarily driven by a steep increase in platinum prices," said company director Mohan Jain, adding that prices over the past year have jumped to 5,000 rupees ($52.30) for one gram from about 2,000 rupees.

Venus Remedies, which supplies to government hospitals, said it has been absorbing losses but is now cautious about taking on new contracts.

"If those caps are not adjusted in line with rising costs, the supply chain comes under pressure," said Executive Director Saransh Chaudhary. "Companies cannot absorb the full increase, so patients ultimately bear the impact and shortages persist."

The other drugmakers did not respond to Reuters requests for comment.

There are few alternatives to the platinum-based cancer drugs, and substitutes can be less effective or more toxic, said oncologist Venkateshwar Rao at Omega Hospital in the southern state of Andhra Pradesh.

($1=95.6000 rupees)

(Reporting by Rishika Sadam; Editing by Dhanya Skariachan and Clarence Fernandez)

(([email protected];))

Adds sector context, analyst comment in paragraphs 2 and 4

By Kashish Tandon

May 22 (Reuters) - Sun Pharmaceutical Industries' SUN.NS fourth-quarter profit edged past estimates, helped by robust demand for its specialty drugs, although increasing cost pressures squeezed margins and sent shares lower on Friday.

The drugmaker's shares fell as much as 3.1% after results before closing 2.5% lower for the day.

Growing costs, especially in the research and development category, as per analysts, pushed up overall expenses 16% to 115.19 billion rupees.

This ate into core margins, which contracted to 27.1% from 28.7% last year. Shrikant Akolkar, a pharma analyst with Nuvama Institutional Equities, called the cost pressure and margins "disappointing".

Consolidated net profit for the March quarter rose 26.2% to 27.14 billion rupees ($283 million), edging past analysts' estimate of 27.12 billion rupees, according to LSEG data.

The drugmaker's push towards boosting its specialty therapies such as dermatology, oncology and obesity helped its bottomline and also allowed it to outperform rivals Dr Reddy's REDY.NS and Cipla CIPL.NS, which missed March-quarter estimates.

Revenue in the specialty drugs segment rose 20% to $354 million - accounting for nearly a quarter of total sales - helped by 14.8% growth in India, its biggest market. U.S. sales fell 1.1%.

The earnings come weeks after Sun Pharma struck its most ambitious deal yet: an $11.75 billion all-cash offer for U.S.-based Organon & Co OGN.N, the largest acquisition ever by an Indian pharmaceutical company.

($1 = 95.9125 Indian rupees)

(Reporting by Rishika Sadam and Kashish Tandon, writing by Chandini Monnappa; Editing by Nivedita Bhattacharjee and Janane Venkatraman)

(([email protected];))

** Shares of Cipla CIPL.NS gain ~6% so far this week, set for best week since July 2023

** Stock set to gain for sixth straight week

** Earlier this week, the drugmaker reported a weaker-than-expected fourth-quarter profit as sharp weakness in its U.S. business and higher costs outweighed strong domestic demand

** Analysts at Ambit Capital had said revenue and profitability have largely bottomed out, and gradual sequential improvement should be visible through FY27

** YTD, CIPL down ~5% vs ~9% fall in Nifty 50 index .NSEI

(Reporting by Vijay Malkar)

(([email protected];))

** Drugmaker Cipla CIPL.NS shares rise 7.7% to 1,362 rupees after reporting Q4 results

** Co reports Q4 consolidated net profit of 5.55 bln rupees ($57.98 million), compared to avg analysts' estimate of 7.05 bln rupees, according to data compiled by LSEG

** Posts total revenue from operations of 65.41 billion rupees, below estimate of 67.49 billion rupees

** "While Cipla's 4QFY26 EBITDA margin performance was weaker than street/our expectations, the silver lining was the meaningful beat in gross margin," analysts at Emkay Capital say

** Analysts at Ambit Capital believe revenue and profitability have largely bottomed out, and gradual sequential improvement should be visible through FY27

** Jefferies analysts say Cipla is likely to face near-term earnings pressure, as new launches in FY27 may not offset the sales loss from two major products, generic Revlimid and Lanreotide

** YTD, stock down 12.2%

($1 = 95.7200 Indian rupees)

(Reporting by Abhinav Parmar in Bengaluru)

(([email protected];))

** Shares of Cipla CIPL.NS fall 0.57% to 1,284.90 rupees ahead of Q4 results; Nifty Pharma .NIPHARM index down 0.16%

** Analysts, on average, expect 42% YoY profit drop, revenue to rise marginally - LSEG-compiled data

** Jefferies flags near-term U.S. sales decline due to key product erosion, margin pressure until new launches scale

** Nomura notes market share loss in hormone therapy drug Lanreotide, supply constraints to impact sales

** CIPL rival Dr Reddy's REDY.NS reported 86% profit drop Tuesday on weaker cancer drug demand, U.S. competition

** CIPL rated "hold" on average by 37 analysts, median PT 1,438 rupees - LSEG-compiled data

** YTD, CIPL down 14.5%, REDY dropped 0.11%, Nifty Pharma up 5.1%

($1 = 95.6300 Indian rupees)

(Reporting by Surbhi Misra in Bengaluru)

(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))

Changes dateline, updates paragraph 1, adds Amgen's investment

May 4 (Reuters) - Global drugmakers have been ramping up U.S. manufacturing and stockpiling inventory as the Trump administration moves to impose 100% tariffs on branded drugs unless companies cut prices or make medicines domestically.

Although enforcement is delayed for companies investing in U.S. manufacturing, the policy has already prompted fast-tracked projects, price cuts and direct-to-consumer sales.

Pfizer and AstraZeneca secured multi-year tariff exemptions through pricing deals and commitments to the new TrumpRx.gov platform. Eli Lilly, Johnson & Johnson and Merck have pledged billions to expand U.S. operations to avoid penalties.

Here's what drugmakers are doing to mitigate supply-chain risks and reassure investors:

Pfizer PFE.N

Pfizer reached a deal with President Donald Trump on September 30 to invest $70 billion in research and development and domestic manufacturing, and received a three-year grace period exempting its products from the pharmaceutical-targeted tariffs.

GSK GSK.L

The London-based drugmaker plans to invest $30 billion in U.S. research and development and supply chain infrastructure over five years.

Eli Lilly LLY.N

U.S. President Donald Trump said in January that Eli Lilly plans to build six plants in the United States.

Lilly said last year that it planned to spend at least $27 billion to build four U.S. plants to expand production and bolster medical supply chains. The company has since announced details on three plants, in Alabama, Virginia and Texas.

Lilly in January said it will build a $3.5 billion pharmaceutical manufacturing facility in Pennsylvania, its fourth new site, in an effort to expand U.S. production and bolster medical supply chains.

Johnson & Johnson JNJ.N

The drugmaker plans to raise U.S. investments by 25%, totaling $55 billion, over the next four years. It plans to build four plants, including one at Wilson, North Carolina, and another at Tokyo-based Fujifilm Biotechnologies' manufacturing site in Holly Springs, North Carolina, over the next 10 years.

The company said in February it would invest more than $1 billion to build a new cell therapy facility in Pennsylvania, part of its larger plans announced last year to scale up U.S. manufacturing.

Roche ROG.S

The Swiss drugmaker said in April last year it would invest $50 billion in the U.S. over the next five years.

A month later, it announced an additional $550 million investment to expand its Indianapolis diagnostics manufacturing hub. The expansion will span Indiana, Pennsylvania, Massachusetts, and California, creating more than 12,000 jobs.

In January, Roche said it will more than double its investment in its drug manufacturing facility in Holly Springs, North Carolina, to about $2 billion, up from the over $700 million announced in May 2025.

AstraZeneca AZN.L

The Anglo-Swedish drugmaker will invest $50 billion on U.S. manufacturing by 2030. The investment will fund a new drug substance facility in Virginia, its largest single-site global investment, alongside expansions in Maryland, Massachusetts, California, Indiana and Texas.

It has already started technology transfers and is managing inventory in 2025 to minimize any tariff hit. Company executives have said the impact would be "very short-lived."

Novartis NOVN.S

The Swiss drugmaker plans to spend $23 billion to build and expand 10 facilities in the U.S. over the next five years. This includes building six new manufacturing plants and expanding its San Diego research and development site, which is expected to create more than 1,000 jobs.

Sanofi SASY.PA

The French drugmaker plans to invest at least $20 billion in the U.S. through 2030 to boost manufacturing and research. Sanofi plans to expand its U.S. manufacturing capacity through direct investments in the company's sites and partnerships with other domestic manufacturers.

Chief Financial Officer François Roger said in July the potential tariffs are expected to have a limited impact in 2025, as the company already has inventory in place in the U.S.

Biogen BIIB.O

The U.S. drugmaker will invest $2 billion more in its existing manufacturing plants in North Carolina, adding capacity for gene-targeting therapies and automation. The company has seven factories in the state, with an eighth set to begin operations in late 2025.

Merck MRK.N

The U.S. drugmaker has begun building a $3 billion pharmaceutical manufacturing plant in Virginia as part of its over $70 billion investment to expand domestic manufacturing and research and development.

It will also invest $1 billion in a new Delaware plant to make biologics and cancer drug Keytruda, to boost U.S. production and potentially create over 4,500 jobs. It also opened a $1 billion facility at its North Carolina site in March.

Merck's animal health unit will invest $895 million to expand its Kansas manufacturing and R&D site, part of a broader $9 billion U.S. investment through 2028.

CEO Robert Davis in July flagged minimal impact from potential tariffs in 2025, and that the company remained well-positioned due to inventory management and moving of manufacturing to the U.S.

Amgen AMGN.O

The U.S.-based biopharma firm plans to invest $900 million to expand its Ohio manufacturing facility, bringing total investment in the state to $1.4 billion and adding 750 jobs. In December, the company committed $1 billion to build a second facility in Holly Springs, North Carolina.

Amgen said in September it is investing more than $600 million to build a new research and development center at its headquarters in Thousand Oaks, California.

The drugmaker announced it will invest $650 million to expand drug manufacturing at its facility in Juncos, Puerto Rico, a move expected to create nearly 750 jobs.

Amgen said it would invest an additional $300 million in its U.S. manufacturing network, expanding its biologics facility in Puerto Rico and support hundreds of construction jobs.

Novo Nordisk NOVOb.CO

The Danish pharmaceutical company said in August its strong U.S. manufacturing footprint positions it well for tariff challenges, describing itself as "very U.S.-centric and U.S.-focused".

AbbVie ABBV.N

U.S. drugmaker AbbVie ABBV.N said in January it has committed $100 billion over the next decade to U.S.-based research and development as part of its three-year deal with the Trump administration to reduce drug prices.

It has 11 manufacturing sites in the U.S. and has said it is "fairly insulated" from any tariff impact this year, given inventory management actions.

The company said in February that it plans to invest $380 million to build two manufacturing facilities at its current North Chicago, Illinois, campus, to support the production of its neuroscience and obesity medications.

Gilead Sciences GILD.O

Earlier this year, the drugmaker announced $11 billion in new planned investment in the U.S. to add to its domestic manufacturing and research heft, taking its total pledged investment to $32 billion.

Gilead said in September that it started work on a pharmaceutical development and manufacturing hub at its headquarters in Foster City, California, in addition to which, it is currently developing two other sites.

Cipla CIPL.NS

The Indian drugmaker is expanding its U.S. manufacturing footprint by investing in capacity expansion for complex respiratory products at its advanced facilities in Fall River, Massachusetts, and Central Islip, New York.

CSL CSL.AX

Australia's CSL said in November it would invest $1.5 billion in the U.S. to manufacture plasma-derived therapies, expanding its footprint in the country over the next five years.

In March, the company announced the expansion of its plasma therapy manufacturing facility in Kankakee, Illinois, which is expected to be operational by 2031.

(Reporting by Siddhi Mahatole, Kamal Choudhury, Puyaan Singh, Sneha S K and Sahil Pandey in Bengaluru; Editing by Tasim Zahid, Sahal Muhammed, Shinjini Ganguli and Maju Samuel)

(([email protected];))

Adds background on trial in paragraph 2, revenue in paragraph 3, and analyst quote in paragraph 6

April 28 (Reuters) - Pfizer PFE.N said on Tuesday it has settled patent disputes with three generic drugmakers over its blockbuster heart drug Vyndamax, effectively extending its patent protection until 2031 and delaying cheaper copies from entering the market.

The deals resolve patent infringement lawsuits against Dexcel Pharma, Hikma Pharmaceuticals HIK.L and Cipla CIPL.NS in Delaware federal court over Pfizer's oral drug Vyndamax. A trial over the patent had started this week.

Pfizer sold nearly $6.4 billion of Vyndamax and related drugs, which treat a serious heart condition called transthyretin amyloid cardiomyopathy (ATTR-CM), in 2025.

The settlements extend U.S. patent protection for Vyndamax until June 1, 2031, subject to other pending litigation.

The company had previously expected a sharp drop in U.S. revenue for the drug in 2029, but now expects sales to hold relatively steady from 2028 through mid-2031.

JP Morgan analyst Chris Schott said in a research note that in light of the drugmaker's other impending patent expirations, which include some of its other top selling drugs like blood thinner Eliquis and cancer drug Ibrance, the settlement "should smooth out the company’s late-2020s earnings profile and give Pfizer additional time for pipeline development."

Shares of Pfizer were up slightly in late morning trading.

(Reporting by Kamal Choudhury in Bengaluru and MIchael Erman in New Jersey; Editing by Chizu Nomiyama)

(([email protected];))

** Shares of Indian pharma company Cohance Lifesciences COHA.NS surge 20% to 432.10 rupees in biggest pct gain since June 2020

** Former Cipla CIPL.NS MD and global CEO, Umang Vohra, appointed CEO of Cohance on Monday

** Vohra led Cipla for more than 9 years; CIPL share price moved up more than 1.5x in the period

** 13.7 mln shares change hands by 11:32 am, more than 4x the 30-day avg

** COHA rated "buy" on avg by 8 analysts; median PT 392 rupees - LSEG data

** YTD, COHA down 18.2%

(Reporting by Abhirami G in Bengaluru)

(([email protected]))

** Shares of India's Cipla CIPL.NS on track for 4.99% weekly gain, eyes best week since July 2025

** Stock down 0.42% at 1,300.5 rupees on the day vs Nifty 50 .NSEI drop of 1.42%

** Drugmaker received U.S. FDA approval for its Abbreviated New Drug Application for the generic equivalent of inhaler Ventolin HFA

** Motilal Oswal("neutral"; TP:1,306 rupees)says g-Ventolin to aid growth and strengthen respiratory portfolio; sees 6–8% earnings CAGR over FY26–28

** Citi ("buy", TP: 1,530 rupees) says approval is key to boosting confidence in pipeline; expects product to contribute$50-70 million in revenue

** CIPL rated "hold" on avg by 37 analysts; median PT 1,438 rupees

** YTD stock down 13.59% vs Nifty 50 down 8.86%

(Reporting by Devika Nair in Bengaluru)

(([email protected];))

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

• CIPLA RECEIVES U.S. FDA APPROVAL FOR FIRST AB-RATED GENERIC OF VENTOLIN® HFA

Source text: ID:nPn7l5ygca

Further company coverage: CIPL.NS

(([email protected];;))

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

• CIPLA - USFDA INSPECTION AT COMPANY'S MANUFACTURING FACILITY IN GOA, INDIA

• CIPLA - USFDA INSPECTION AT COMPANY'S MANUFACTURING FACILITY IN GOA, INDIA

• CIPLA - USFDA CONDUCTS INSPECTION AT CIPLA GOA FACILITY FROM APRIL 6-17, 2026

• CIPLA - RECEIVES TWO INSPECTIONAL OBSERVATIONS IN FORM 483

Source text: ID:nBSE5VLYW0

Further company coverage: CIPL.NS

(([email protected];;))

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

By Robert Cyran

NEW YORK, April 6 (Reuters Breakingviews) - The spice must flow. So goes the dictum of science-fiction universe Dune, dependent on a mysterious substance for space travel. In the real world, Taiwan’s semiconductor factories are of similarly existential importance. Shortages of both liquefied natural gas and helium threaten production. If they need reassurance, chipmakers can look to a very literal case of keeping the spice flowing from the recent past.

In 2005, a nasty avian influenza strain threatened the world. Drugmaker Roche’s ROPC.S Tamiflu was the best choice for fighting symptoms. The problem was, the United States had stockpiled millions of doses. To fill other nations’ orders, then-Roche boss Franz Humer needed to secure a compound found in an Asian pantry staple: star anise. The spice was the primary source of shikimic acid, a chemical necessary for manufacturing Tamiflu.

There was no burst of supply that could sate this new demand. Demand for the spice rocketed, and the price of shikimic acid rose ten-fold in a month. Yusuf Hamied, chairman of Indian drugmaker Cipla CIPL.NS, complained that his rival had cornered the market. Grumbling cooks, too, were largely priced out. But Roche produced its treatment.

Now consider cutting-edge chips. Taiwan Semiconductor Manufacturing 2330.TW is the essential silicon manufacturer for Nvidia NVDA.O and its peers. To keep factories humming, the company needs power and raw materials. Conflict in the Gulf threatens both.

LNG accounted for nearly half of Taiwan’s electricity generation last year. One-third of the island’s supply came from Qatar, which is now largely shut down. But ships from elsewhere are still sailing, and can be rerouted if a higher bidder jumps in. Taiwan can afford to do so, and supplies are sufficient: Asian prices are still well below 2022’s heights. Furthermore, the nation’s total imports last year equate to about two months’ worth of U.S. exports, and Washington would surely react if chip supplies were really threatened.

Then there are raw materials, particularly helium. Semiconductor makers account for 23% of global demand, according to Bank of America, while around 27% of supply has been taken offline amid the fighting. Like the chefs outbid by Roche, good luck to welders or balloon-pumping party planners in competing with $1.8 trillion titan TSMC for what's left.

Star anise also shows that markets eventually find more elegant solutions. Roche now produces star anise’s active ingredient via cheap, plentiful bacterial fermentation. Taiwan will undoubtedly source different forms of power, while surprising new sources of helium will probably emerge. Odds are, silicon will continue to flow.

Follow Robert Cyran on Bluesky.

CONTEXT NEWS

U.S. and ​Israeli attacks on Iran that started on February 28 have led to ​the effective closure of the Strait of Hormuz, which normally carries about 20% of the world's oil and refined products.

The Strait also carries large amounts of helium, necessary for semiconductor manufacturing. Qatar produces nearly a third of the world’s supply, according to Bank of America analysts.

(Editing by Jonathan Guilford; Production by Pranav Kiran)

((For previous columns by the author, Reuters customers can click on CYRAN/[email protected]; Reuters Messaging: [email protected]))