Comprehensive Report

A COMPREHANSIVE PROJECT REPORT
ON
AMLOPRES AT
(AMLODIPIN + ATENOLOL COMBINATION),
A PRODUCT OF CIPLA Ltd.
PREPARED UNDER GUIDENCE OF

DR. HEMANT C. TRIVED
FACULT OF MANAGMENET
DEPARTMENT OF BUSINESS ADMINISTRATION
PEPARED BY
VIRAL B PATHAK
SUBMITTED TO
DEPARTMENT OF BUSINESS ADMINISTRATION
BHAVNAGAR UNIVERSUTY
BHAVNAGAR
COMPREHENSIVE REPORT ON AMLOPRES AT
INDEX
Page No.
 The Indian pharmaceutical industry. 3
 Pharma`s top 10 companies. 6
 Introduction to the company (cipla ltd.) 7
 Background. 8
 History. 8
 Board of directors. 12
 Milestones. 13
 Business. 18
Research and Development. 25
 Quality control. 27
 Exports. 28
 Marketing and Promotion. 30
 Distribution. 31
 Expansion and modernization. 32
 Cardiac division. 33
 Major competitors. 35
Cardiac therapy. 36
 Introduction to the product. 39
 Competitors brand. 45
2
 Financial analysis. 49
 Bibliography. 56
THE INDIAN PHARMACEUTICAL INDUSTRY:

From a very little start at Colcata, today Indian Pharma Industry
has acquired a considerable position in Indian Industrial Market. In the
post independence era India has become successful to achieve
significant growth and development through conductive five year plans
and rapid market potential.
We believe India is poised to become one of the major
pharmaceutical producers given that it has one of the lowest per
capita drugs spending in the world of dollar through the country has a
great potential for growth.
Economic growth will see a rise in sophisticated health care
requirment foe the growing urben middle class in the terms of drugs
and health care management, there will be a gradual trickle down
effect on the vast rural population for which rising incomes will also
increase demand for better helth care.
Before Drug Price Control Order(DPCO) Indian drug prices were
among the highest in the world. But after been developed as an
indigenious industry in 197, DPCO established retail selling prices on
certain drugs. The introduction of the Indian Patents Act (1970) also
resulted in a fundamental structural change with in the industry. The
act did not recognize product patents for drugs but process patent,
which allowed a company to copy a drug using different process route
without payments of licence fees or royalties to originators. But now
that would a major change in this process as the patent law is going to
be introduced with in a shprt span of time which would prevent
companies to produce same molecule drugs without having patent
rights. So, there may be a major change after the implication of that
law.
Indian drug companies with their lower labor and operational
cost were able to manufacture first time international drugs and
cheaper than MNCs, which had to adhere to international Patent
regulations restricting them to their proprietary drugs.
Export of Indian Pharmaceuticals mainly consists of basic drugs,

intermediates and fine chemicals (Including quinine salts exported
exclusively by the Govt. and the finished formulations.
The Indian export have largly been consumed by the Russia who
has been its largest buyer of Indian bulk drugs, accounting for 33% of
the exports. Along with this now a days there are many other countries
which are importing drugs from India like Cnanda, UK, Germany etc.
3
The country’s raw material and manufacturing cost structure is

internationally competitive.
A mix of low cost skilled labor and production efficiencies
through process development has resulted in Indian drug prices being
among the lowest in the world.
Among the developing countries, the India Pharma Industru leads

in terms of its product range, as well as it’s product quality.
Considering the fact that the population in India 17% of world
population, its Pharma Industry constitutes only 3% in the world
showing tremendous market potential.
The Indian Pharma Industry is characterized by a high level of

fragmentation. Over 20,000 Pharma units in the country produce bulk
drugs and intermediates.
The US$300bn global pharmaceutical industry is research

driven. New drug R&D cost being prohibitive, it is limited to
pharmaceutical MNCs in developed nations where product
patents are enforced. High prices of under-patent drugs are
causing a shift to generics, especially in USA and European
markets. So, to spread their R&D costs over a larger base,
Pharma MNCs are consolidating through mergers/ alliances.
Historically, India has recognized only process patents. Under
WTO, as per TRIPs agreement India too has to enforce product
patents latest by year 2005 AD.
In the Rs160bn Indian pharma sector, prices of over 50% of

the drugs/ formulations are Government controlled (through
DPCO). In the domestic bulk drugs market, low entry barriers
have resulted in overcapacity and price wars. So, major players
are focusing on formulations, where brand image and distribution
network act as entry barriers. Most players are increasing their
overseas marketing/ manufacturing network in order to enhance
exports (under patent drugs to third world countries and generics
to developed nations). Large local players are consolidating
through brand acquisitions, co-marketing/ contract manufacturing
tie-ups with MNCs etc.
Facts: Total Value of Pharma Market is worth 16,235crores.

Growth rate/annum of Pharma Industry is 11.6%
4
SOURCE: COMPANY LITERATURE (CIPLA Ltd.)
PHARMA’S TOP 10 COMPANIES

Figures in Rs crore
GAINE COMPANY AVG.MKT. AVG.MKT.
R CAPITAL CAPITAL
RANK (2002- (2002-
2003) 2003)
1. RANBAXY LAB 10,131.28 6,081.8
4. DR. REDDY’S LAB 7,255.69 5,747.77
10. CIPLA 5,863.. 6,654.17
2. GSK PHARMA 2,827.09 1,928.15
6. SUN PHARMA 274,.69 2,619.41
3. WOCKHART 1,759.86 1,332.56
8. PFIZER 1,079.85 1,092.3
5. NOCHOLAS PIRAMAL INDIA 983.84 928.97
9. AVENTIES PHARMA 917.92 960.6
5
7. NOVARTIES INDIA 805.38 770.3
Above figures shows the business of top 10 Indian Pharma companies.

In these years, investors in pharma made a killing. Especially, Ranbaxy
and Dr Reddy’s have scored on the strength of FDA approvals and
strong growth in markets like US.
SOURCE: Business Today November-2002 issue.
INTRODUCTION TO THE COMPANY (CIPLA Ltd.):
Cipla, a India’s leading domestic pharmaceutical company,

has excellent process R&D and distribution network. It is a
leading player in anti-infective and anti-asthmatic formulations.
Cipla is aggressively expanding its therapeutic reach in high

margin segment of cardiovascular, diabetic, anti asthma inhalers
and central nervous system to boost domestic sales. With
marketing JVs in all major markets of Europe, Australia, South
East Asia, Africa and US, Cipla’s exports have grown at grow at
more than 50% in the last FY2000 and FY2001. The company has
consistently come out with modern drugs at a comparatively
lower price in the domestic market. Cipla has strong pipeline of
products and the company is expected to come out with
innovative drugs through NDDS and chiral synthesis.
6
BACKGROUND
Cipla was incorporated as a public limited company in 1935,
in the name of Chemical Industrial and Pharmaceutical
Laboratories Ltd. The name was changed to the acronym ‘Cipla’
in 1984. Over the last 6 decades Cipla has set up plants at 5
locations, mainly concentrated in Maharashtra. Currently it has
around 2200 employees. Its in house R&D was established in
1952. Cipla is managed by the Hamied brothers, sons of the
founder, late Dr K A Hamied. Dr Y K Hamied, with a doctorate in
Organic Chemistry from Cambridge, is the Chairman and
Managing Director. He heads the research division that has a
strength 200 people. His brother, M K Hamied, looks after
marketing and Amar Lulla heads the finance division. Cipla has
incorporated a unique, flat organization structure.
HISTORY
Khwaja Abdul Hamied, the founder of Cipla, was born on October
31, 1898. The fire of nationalism was kindled in him when he was 15 as
he witnessed a wanton act of colonial highhandedness. The fire was to
blaze within him right through his life.
In college, he found Chemistry fascinating. He set sail for Europe

in 1924 and got admission in Berlin University as a research student of
"The Technology of Barium Compounds". He earned his doctorate
three years later.
7
In October 1927, during the long voyage from Europe to India, he

drew up great plans for the future. He wrote: "No modern industry
could have been possible without the help of such centres of research
work where men are engaged in compelling nature to yield her secrets
to the ruthless search of an investigating chemist." His plan found
many supporters but no financiers. However, Dr Hamied was
determined to being "a small wheel, no matter how small, than be a
cog in a big wheel."
CIPLA IS BORN
In 1935, he set up The Chemical, Industrial & Pharmaceutical
Laboratories, which came to be popularly known as Cipla. He gave the
company all his patent and proprietary formulas for several drugs and
medicines, without charging any royalty. On August 17, 1935, Cipla
was registered as a public limited company with an authorised capital
of Rs 6 lakhs.
The search for suitable premises ended at 289, Bellasis Road

(the present corporate office) where a small bungalow with a few
rooms was taken on lease for 20 years for Rs 350 a month.
Cipla was officially opened on September 22, 1937 when the first
products were ready for the market. The Sunday Standard wrote: "The
birth of Cipla which was launched into the world by Dr K A Hamied will
be a red letter day in the annals of Bombay Industries. The first city in
India can now boast of a concern, which will supersede all existing
firms in the magnitude of its operations. India has lagged behind in the
march of science but she is now awakening from her lethargy. The new
company has mapped out an ambitious programme and with
intelligent direction and skillful production bids fair to establish a great
reputation in the East. "
MAHATMA GANDHI VISITS CIPLA

July 4, 1939 was a red-letter day for Cipla, when the Father of the
Nation, Mahatma Gandhi, honoured the factory with a visit. He was
"delighted to visit this Indian enterprise", he noted later.
On October 31, 1939, the books showed an alltime high loss of

Rs 67,935. That was the last time the company ever recorded a deficit.
In 1942, Dr Hamied’s blueprint for a technical industrial research

institute was accepted by the government and led to the birth of the
8
Council of Scientific and Industrial Research(CSIR), which is today the

apex research body in the country.
In 1944, the company bought the premises at Bombay Central

and decided to put up a "first class modern pharmaceutical works and
laboratory." It was also decided to acquire land and buildings at
Vikhroli. With severe import restrictions hampering production, the
company decided to commence manufacturing the basic chemicals
required for pharmaceuticals.
In 1946, Cipla’s product for hypertension, Serpinoid, was

exported to the American Roland Corporation, to the tune of Rs 8
lakhs. Five years later, the company entered into an agreement with a
Swiss firm for manufacturing foromycene.
Dr Yusuf Hamied, the founder’s son, returned with a doctorate in

chemistry from Cambridge and joined Cipla as an officer in charge of
research and development in 1960.
In 1961, the Vikhroli factory started manufacturing diosgenin.

This heralded the manufacture of several steroids and hormones
derived from diosgenin.
THE FOUNDER PASSES AWAY

The whole of Cipla was plunged into gloom on June 23, 1972
when Dr K A Hamied passed away. The Free Press Journal mourned the
death of a "true nationalist, scientist and great soul…. The best
homage we can pay to him is to contribute our best in the cause of
self-reliance and the prosperity of our country in our fields of
endeavour."
Cipla set up an agricultural research division in Bangalore in

early 1973. The division worked on cultivation of several medicinal
plants, particularly the Dioscorea species. The Bangalore factory was
opened on October 22, 1977.
AWARDS AND ACHIEVEMENTS

 Cipla was awarded the Chemexcil Second Award for 1978-79, in
recognition of the company’s role in the international market as
also the high ratio of exports to local sales.
9
 The Chemexcil First Award followed this, in 1981-82. In 1983,

Cipla bagged the Sir P C Ray Award for the development of
indigenous technology in the face of stiff competition.
 In another landmark achievement that hit the headlines in the
same year, Cipla developed two anticancer drugs, vinblastine
and vincristine from the common garden plant Vinca rosea. This
was in association with the National Chemical Laboratory.
 Commercial production commenced in Cipla’s fourth factory at
Patalganga in November 1983. Located in the middle of a green
island, the plant incorporated the latest technical facilities in
accordance with Good Manufacturing Practices.
 In 1985, the US FDA approved Cipla’s bulk drug manufacturing
facilities for the first time. In 1988 Cipla won the National Award
for Successful Commercialisation of Publicly Funded R&D.
 In keeping with its leadership position in anticancer drugs, the
company pioneered the manufacture of the antiretroviral drug,
zidovudine, in technological collaboration with Indian Institute of
Chemical Technology in 1993.
 In 1994, Cipla’s fifth factory began commercial production at
Kurkumbh, Maharashtra.
 Heralding a new era in inhalation therapy, Cipla launched its
transparent Rotahaler, the world’s first such dry powder device,
in 1995.
 In 1997, the palliative cancer care centre set up by the Cipla
Foundation, began offering free service to terminally ill patients
at Warje, near Pune.
 In 1998, Cipla launched lamivudine, thus becoming one of the
few companies in the world to offer all three component drugs of
retroviral combination therapy (the other two being zidovudine
and stavudine).
BOARD OF DIRECTORS
Board of Directors As on 26th July-2001
10
Dr Y K Hamied- Chairman & Managing Director
M K Hamied
Amar Lulla
D R Narang
Dr H R Manchanda
S A A Pinto
Ramesh Shroff
V C Kotwal
B K Khare
Secretary
n/a
MILESTONES:
1935:
Dr K A Hamied sets up "The Chemical, Industrial and Pharmaceutical
Laboratories Ltd." in a rented bungalow, at Bombay Central.
1941
11
As the Second World War cuts off drug supplies, the company starts
producing fine chemicals, dedicating all its facilities for the war effort.
1952
Sets up first research division for attaining self-sufficiency in
technological development.
1960
Starts operations at second plant at Vikhroli, Mumbai, producing fine
chemicals with special emphasis on natural products.
1968
Cipla manufactures ampicillin for the first time in the country.
1972
Starts Agricultural Research Division at Bangalore, for scientific
cultivation of medicinal plants.
1976
Cipla launches medicinal aerosols for asthma.
1980
Wins Chemexcil Award for Excellence for exports.
1982
Fourth factory begins operations at Patalganga, Maharashtra.
1984
Develops anti-cancer drugs, vinblastine and vincristine in collaboration
with the National Chemical Laboratory, Pune. Wins Sir P C Ray Award
for developing inhouse technology for indigenous manufacture of a
number of basic drugs.
1985
US FDA approves Cipla’s bulk drug manufacturing facilities.
1988
Cipla wins National Award for Successful Commercialisation of Publicly
Funded R&D.
12
1991
Lauches etoposide, a breakthrough in cancer chemotherapy, in
association with Indian Institute of Chemical Technology.
The company pioneers the manufacture of the antiretroviral drug,

zidovudine, in technological collaboration with Indian Institute of
Chemical Technology, Hyderabad.
1994
Cipla's fifth factory begins commercial production at Kurkumbh,
Maharashtra
1997
Launches transparent Rotahaler, the world's first such dry powder
inhaler device now patented by Cipla in India and abroad. The
palliative cancer care centre set up by the Cipla Foundation, begins
offering free services at Warje, near Pune.
1998
Launches lamivudine, becoming one of the few companies in the world
to offer all three component drugs of retroviral combination therapy
(zidovudine and stavudine already launched).
1999
Launches Nevirapine, antirltroviral drug, used to prevent the
transmission of AIDS from mother to child.
13
CIPLA WAS THE FIRST TO INTRODUCE THESE

DRUGS IN INDIA.
Clofibrate Ondansetron
For hyperlipidaemias For cancer-induced
resistant to diet emesis
Propranolol Salmeterol
For hypertension For bronchial asthma
Lorazepam Deferiprone
For anxiety World ’s first oral iron
chelator for use in
Salbutamol sulphate thalassaemia
For bronchial asthma
Finasteride
Vincristine sulphate For benign prostatic
For acute leukaemia hyperplasia
Vinblastine sulphate Fluticasone

For palliative treatment propionate
of cancer Topical corticosteroid
Piroxicam Alendronate
For rheumatoid arthritis For osteoporosis
Gugulipid Stavudine
For cholesterol reduction
14
Norfloxacin For HIV infection

Broad spectrum
antibacterial Lamivudine
For HIV infection
Etoposide
For various cancers Doxazosin
For hypertension
Zidovudine (AZT)
For HIV infection Nevirapine
For HIV infection
Bicalutamide
For prostate cancer Misoprostol
For NASAID induced
Famcyclovir gastritis
For herpes infections
Tamsulosin
Apraclonidine For BPH
For glaucoma
Montelukast Sodium
For bronchial asthma
15
BUSINESS
Cipla’s FY2002 sales consist of formulations (65%), sold in the
domestic and export market, and bulk drugs (35%), mostly exported
PRODUCTS
Cipla in the past has been focused on the domestic formulations

market, spending large sums on R&D for processing under patent
drugs and at the same time improving the efficacy of the formulations
through novel drug delivery systems and chiral synthesis. It has
premiered launches of many MNCs’ products in India, at competitive
prices. Cipla has established itself as a leading player in antibiotics
(including quinolones). In anti-asthmatics, it has around 70% market
share in aerosols (inhalable formulations), with Asthalin (including
brand extensions) being the leading brand. Other therapeutic areas are
anti-AIDS, anti-cancer, cardiovascular, intestinal disinfection and anti-
inflammatory/ anti-helmintic products.
PRODUCTION:
MANUFACTURING FACILITIES
 Vikhroli, Mumbai
Formulations
 Bangalore
Bulk drugs, formulations, natural products
 Patalganga
Bulk drugs, formulations
 Kurkumbh
Bulk drugs, formulations
 Goa : Formulations
16
DEDICATED LICENSED MANUFACTURING FACILITIES
 Bangalore
Intermed Pharma Pvt. Ltd.
Intermed Labs Pvt. Ltd.
 Daman
Golden Cross Pharma Pvt. Ltd.
Healing Cross Pharma Pvt. Ltd.
Jupiter Remedies Pvt. Ltd.
Advanced Remedies Pvt. Ltd.
 Goa
Medispray Laboratories Pvt. Ltd.
Meditab Specialities Pvt. Ltd.
Okasa Pvt. Ltd.
 Kurkumbh
Orion Remedies Pvt. Ltd.
 Satara
Okasa Pharma Ltd.
Mediorals Laboratories Pvt. Ltd.
 Solapur
Aditi Pharmaceuticals Pvt. Ltd
17
Dosage Forms
Cipla manufactures:
Tablets
Conventional
Sustained Release
Enteric Coated
Effervescent
Chewable
Mouth Dissolve
Dispersible
Bilayered
Capsules
Hard Gelatin
Sprinkles
Sustained Release
Immediate Release
Filled with liquid
Powder Plus Tablet
Enteric coated pellets
Soft Gelatin
Conventional
Microemulsion
Liquids
Suspensions
Syrups
Drops
Injections
Ampoules
Vials
Dry Powder
Lyophilized
Depot
Ophthalmic Preparations
Suspensions
Solutions
Ointments
Topical Preparations
Lotions
Creams
Ointments
Transdermal Patches
Transdermal Sprays
Gels
18
Powders
Nasal Preparations
Suspensions
Solutions
Metered Sprays
Inhalers
Metered Dose
Dry Powder
Nebulizing Solutions
Rectal Preparations
Suppositories
Enema
Foams
Powders
Effervescent
Conventional
Dispersible
Buccal Preparations
Metered Sprays
Devices
For use with
Metered Dose Inhalers
Intramammary Preparations
For Veterinary Use
Toiletries
PRODUCTS
Cipla produces around 50 types of bulk drugs. Most of these
19
are captively consumed, and merchant sales are targeted

mainly at export markets
CARDIAC CARE:
Carloc Simcard Atorlip
Zaart Trivedon-20 Doxacard
Amlopres Amlopres AT Amlopres L
INFECTION CARE:
Novamox AX Synclar Norfiox
Novaclox LB Cefoprox Norflox TZ
Acivir Novamox Ciplox
Forcan Ciplox TZ
ASTHAMA THEORAPY:
Asthalin Sereflo Inhealers
Bambudil Serobid Rotahealer
Aerocort Beclate Zerostat + spacer
Fiohale
EYE (OPTHELMIC PRODUCTS)
Optipres –S Ciplox
Optipres Norflox
ANTI-CANCER RANGE
Kelfer Cytoblustin
20
Cytocristine Etosid
AIDS:
Lavimir Stavir Zidovir
Duovir Nevimune
Among the major products launched during the year were:
 Asthalin HFA (salbutamol inhaler) - CFC-free bronchodilator

aerosol for asthma
 Atorlip (atorvastatin tablets) -advanced lipid lowering agent
 Bambudil (bambuterol tablets) -Iong-acting bronchodilator
for asthma
 Cefadur Rediuse ( cefadroxil syrup) -ready- to-use paediatric
antibiotic formulation
 Doxacard (doxazosin mesylate tablets) - once-daily alpha
blocker for hypertension and symptomatic relief of benign
prostatic hyperplasia (BPH)
 Duovir (lamivudine plus zidovudine tablets) -combination
antiretroviral for HIV infection
 Entofoam (hydrocortisone acetate foam) - corticosteroid
rectal foam for ulcerative colitis
 Lamivir HBV (lamivudine tablets) -new antiviral for chronic
hepatitis B
 Melflam (meloxicam tablets) -preferential COX-2 inhibitor
NSAID for arthritis
 Nevimune (nevirapine tablets) -novel antiretroviral for HIV
infection
 Novaclox-LB (amoxycillin, cloxacillin and lactobacillus
capsules) -antibiotic- lactobacillus combination free of
gastrointestinal side effects
 Novamox-AX (amoxycillin plus ambroxol tablets) -antibiotic-
mucolytic combination for bronchitis
 Seroflo Rotacaps (salmeterol plus fluticasone) -new
corticosteroid bronchodilator combination for asthma
21
 Synclar Dry Syrup (clarithromycin) - macrolide antibiotic for

paediatric respiratory infections
 Oflox TZ (ofloxacin plus tinidazole tablets) antibacterial
combination for mixed aerobic/anaerobic infections.
From the active pharmaceutical ingredients (APIs) under

development, the following were successfully scaled up for
commercial manufacture:
a) Budesonide -corticosteroid
b) Cyproterone acetate -antiandrogen
c) Docetaxel -anticancer
d) Ebastine- antihistamine
e) Gabapentin- antiepileptic
f) Leflunomide -for rheumatoid arthritis
g)Mometasone furoate -corticosteroid
h) Nevirapine -non-nucleoside reverse transcriptase inhibitor
i) Olanzapine –antipsychotic
RESEARCH AND DEVELOPMENT:

As in the past, Cipla's R&D division continued its focus on
technological innovation. The Company zealously system of
knowledge management within and outside the organisation to
support its research efforts.
A wide spectrum of products has been successfully taken up

for commercial manufacture during the year. Several innovative
processes have already taken shape in the laboratory for the
manufacture of active pharmaceutical drug ingredients including
abacavir, alosetron, apraclonidine, atorvastatin, didanosine,
22
efavirenz, linezolid, loteprednol, paroxetine, pioglitazone,

quinapril and topotecan. Their commercial manufacture is on the
anvil in the near future.
Significant progress was also achieved in the area of

formulations and medical devices. Besides CFC-free metered
dose inhalers, the R&D team has also developed other novel
dosage forms. A unique dry powder delivery device is currently
under development.
With a view to enhance its participation in the global

market, Cipla is focusing on securing international patents for
new processes, innovative drug formulations, advanced drug
delivery systems and medical devices. The Company is carefully
examining its future role in path-breaking areas of research such
as genetics. This could open up unexplored avenues of global
alliances for the introduction of new therapeutic agents.
The Company's new R&D centres at Kurkumbh and Patalganga

obtained recognition from the Department of Scientific and
Industrial Research, Government of India. The same was renewed
for the existing in-house R&D units at Mumbai and Bangalore.
Cipla's R&D units are closely associated with major CSIR

laboratories as well as other research institutions in India.
During the year, the Company's expenditure on R&D was
Rs300mn, approximately 4% of its turnover.
• Research on new chemical entities in the area of antifungals,

antihistamines and antiaids compounds.
• Development of new drug delivery systems in various
pharmaceutical dosage forms viz.
1. Sustained and modified release dosage forms

2. Innovative Transdermal Delivery system
3. Drug delivery systems based on inhaled forms
4. Nasal, Rectal, Topical drug delivery forms
5. Ready to use formulations in Paediatric and
Geriatric applications
6. CFC-free metered dose inhalers
• Path-breaking work on agronomy and scientific development of

traditional medicines.
23
• State-of-the-art equipment for research, pilot scale manufacture

as well as QC.
Designing innovative laboratory and plant equipment to enhance

product performance and maximise returns
RESEARCH & DEVELOPMENT CENTRES
 Mumbai Central, Mumbai

R&D Formulations
 Vikhroli, Mumbai
R&D Bulk drugs & formulations
 Bangalore
R&D Bulk drugs
 Patalganga
R&D Bulk drugs
 Kurkumbh
R&D Bulk drugs
QUALITY CONTROL:
 Cipla’s highly qualified professionals help upgrade quality
standards by making consistent contributions to national and
international pharmacopoeia and to analytical science.
 Expertise in method development and validation for new
molecules with special emphasis on impurity profiling, particle
size analysis, stability and integrity assay methods, and in-vitro
dissolution profiling.
 Custom-made methods to evaluate sophisticated dosage forms
like metered dose inhalers, intra nasal preparations, ophthalmic
preparations, transdermal systems, dermatological products and
implants.
 Cipla laboratories are equipped with the following sophisticated
equipment viz. HPLCs, HPTLCs, XRDs, GC-MS, FTIR Microscopy,
LC-MS, Thermal Analytical Systems, Laser Particle Size Analysers
and Illumination Chambers in order to test for conformity with
USP, BP, EP, IP as well as inhouse specifications surpassing
various pharmacopoeial standards.
 Microbiological analysis including bacterial, endotoxin and
sterility testing.
24
EXPORTS
Cipla was amongst the first few Indian pharma companies
to receive US FDA approval for its works in 1985. In FY2001,
exports grew 84% yoy, contributing 25% of net sales. A major
portion of Cipla’s exports is to the developed countries of
Americas (39%), and Europe (19%) which have highly stringent
quality norms. Other major markets are Africa (16%), Middle East
(15%), Asia (8%) and Australia (3%). Cipla has stopped exports to
Russia and CIS countries due to ongoing crisis.
The company has signed supply arrangements with a

number of generic suppliers including Ivaxx and Zenith Goldline.
More importantly, five of these arrangements are with companies
who already have or are likely to obtain first to file marketing
exclusivity. This implies that the margins on these products
would be higher. Most important of these will be Olanzipine of Eli
Lilly, which is a $2 billion plus product. Cipla’s strategy is a low
risk one though it might lead to slightly lower returns. Cipla
doesn’t have a single employee outside India (unlike its peers-
DRL and Ranbaxy) as it believes in entering into partnership
arrangements with people who already are in the market.
On the R&D front, the company is looking at partnerships

for entering the biotech area. Again it believes that biotech
research is much advanced abroad and it makes better sense to
tie up with people already working in the field.
In last year company’s export were just under 5 billion, it

accounts about 35% of the total sales.
25
Cipla products are bought by over 140 countries located in the

following regions:
Cipla technology is presently sold to companies in:

Canada Ecuador Germany Ivory Coast
Saudi UK USA
Arabia
Cipla has entered into marketing joint ventures with

companies in:
Australia Ireland South Africa
26
MARKETING & PROMOTION:

 For marketing mainly one to one strategy is used in which
doctors all across India are visited by the Sales Exicutives of the
company. Cipla has a well-qualified team of over 1000 MRs
covering around 0.2m doctors all over India.
 Cipla has co-marketing arrangement with Ranbaxy for once

a day Ciprofloxacin. The company has offered to supply a
key AIDS drug Niveripine free of cost to the Indian
government for 2001 and 2002. The management feels
very strongly about the grave situation facing India in the
AIDS area and is even willing to give technical and
manufacturing know- how free of cost to the Indian
government.
 Another helping tool of marketing is the gift method in that
various kinds of gifts are given to the doctor to motivate them to
prescribe their product.
 Many doctors are sponsored by the company for various

meetings and seminars in which mainly the registration is done
by the company as a part of the promotion of the product
27
DISTRIBUTION:
 For distribution of the product, mainly pull strategy is practiced.
 The product is sold directly to the customer only by the medical

stores only with doctor’s prescription.
 For distribution: the customer comes to the medical store and

asks about the medicine, the medical store owner inquires to
the stockiest situated near to their medical store by direct
contact or by the phone and the stockiest contacts to the dealer
of the company or to the godown of the company where the
stocks are delivered from ware houses in the respective regions
and at there the stocks are delivered directly from the production
units.
 In this distribution network, cost of the distribution is on

company up to the stock reaches to the stockiest and while in
the case of the product reaching from stockiest to the various
medical stores charges do mostly the medical stores pay.
 It has a network of 24 sales offices and depots, liaising with

around 1300 stockists and 1,30,000 retailers across the
country.
EXPANSION AND MODERNISATION:
28
 Considering the growing needs of business particularly in

the various International markets, the Company invested
substantially in modernising its plant and machinery at all
its manufacturing locations.
 The aggregate capital expenditure incurred during the year

was Rs323.7mn.
BUSINESS ENVIRONMENT AND FUTURE PROSPECTS:
 The expecations of the indigenous pharmaceutical sector

were belied, once again in the absence of any concrete
measures to boost the industry. Despite several assurances,
there was no relaxation in the drug pricing policy. Besides
lacking transparency, the policy guidelines are based on
outdated criteria and continue to be applied in an arbitrary
and inequitable manner. In this era of liberalisation, the
pharmaceutical industry is eagerly awaiting steps to relax
pricing and other controls that have been hampering its
growth for years.
 As regards the impending introduction of product patents, it
is fervently hoped that the Government will provide for
compulsory licensing to protect Indian consumers, while
finalising the patent amendment bill. India would do well to
learn from the experience of the African countries, which
are caught in the patent bind and are unable to provide life-
saving drugs, like those to fight AIDS, to their ailing millions.
 Regardless of the challenges posed by the changing
business environment, Cipla is confident of maintaining its
leadership position in the coming years on the basis of its
inherent technological strengths and a highly committed
and skilled manpower.
CARDIAC DIVISION:
The cardiac group forms a very important segment to Cipla as a
company. The cardiac market is very dynamic and growing one. Infact,
cardiac group as a whole industry is worth of 1419 crore and it is
growing 20.5%/annum. Cipla has a 93 crore share in this group and is
growing at a rate of 19.9%.
29
So, because of the above reasons it becomes essential for any

company, in this segment, to focuss on proper marketing for the
cardiac products and so as, the Cipla is doing extensive efforts for the
marketing of cardiac products of Cipla. This efforts helps in two ways;
firstly, helps the company to maintain their lead for certain well-
established products, and secondly, it aids in steering the other brands
forward.
Now let us have a look on the contributions of the Cipla in cardiac

devision in last 3 decades…
1. 1973: Ciplar (Proponolol) was introduced.
2. 1985: Metolar (Metopropol), the first cardioselective Beta-

blocker, manufactured right from the basic stages, was
introduced.
3. 1988-89: Nifelat (Nifedipine) was added in the cardiac basket.
4. 1992: Felogard (Felodipine), the vasoselective calcium

antagonist was introduced.
5. 1995: Trivedon-20 (Trimetazidine) – the Cipla was first in India

and second in the world to synthesize Trimetazidine.
6. 1995-96: Amlopres (Amlodipine) the advanced calcium

antagonist was introduced.
7. 1996: Amlopres-AT (Amlodipine + Atenolol) the first bilayered

tablet, was introduced.
8. 1997: Amlopres-L (Amlodipine + Lisinopril) was added to the

Amlopres range.
9. 1997: Dilgard-XL (Diltiazem extended relase) was introduced.
10.1997: Warf (Warfarin) the anticoagulant entered.
11.1998: Simcard (Simvastatin) was a major breakthrough in lipid

lowering therapy.
12.1998: Zaart (Losartan), an angiotensin receptor blocker, was a

major advancement in antihypertensive therapy.
30
13. 1999: Carloc (Carvedilol) the novel Beta-blocker was introduced.
14. 1999: Doxacard (Doxazosin), Cipla was the first to introduced

this Alpha- blocker in India.
15. 1999: Atorlip (Atorvastatin) a premium statin molequle was

added in their vast range.
16. 2000: Amlopres-Z joined the Amlopres range.
17.2001: Obestat and Ramipres were added to the cardiac basket.
18.2002: Clopivas, Metolar Injection, Trivedon-MR, Hydrazide,

Fenolip entered in Cardiac Market.
TOTAL CIPLA SALES (During 2002-2003)
Value 1389.87 Crores

Growth 32%
Source: Company Literature
MAJOR COMPETITORS:
1) Pfizer.
2) U.S.V.
3) Intas.
4) Sun Pharma
5) Ranbaxy Lab
6) Dr. Reddy’s Lab.
7) GSK Pharma.
8) Wockhardt.
9) Nicholas Piramal India.
10) Aventis Pharma.
11)Novrartis India.
31
CARDIAC THERAPY
Indications
Hypertension (high blood pressure), Angina (blockage in arteries),

Arrythmia (disturbance in heart beat rhythm), low blood supply to
other organs in the body.
Major Effective Drugs (as per therapeutic utility)
Anti-hypertensives :
Used to control high blood pressure. BP can be high due to a variety of

reasons for eg
• Excessive hormones released in the blood stream which cause

blood vessels to contract more than necessary, resulting in
higher blood pressure or.
• Due to malfunctioning of the kidney and resultant disturbance in
sodium salt & water balance in the body.
As per the cause of the hypertension, the relevant type of

hypertensives are prescibed as under :
ACE Inhibitors :
These reduce the action of Acetyl-Choline-Esterase Enzyme (ACE)

which when produced by the body in excess results in hypertension.
Major drugs are Enalapril Maleate, Lisinopril, Ramipril, Captopril.
Beta Blockers :
These help to decrease heart rate, force of contraction and cardiac

output therefore resulting in reducing high blood pressure. Includes
drugs such as Atenolol, Propranolol, Metoprolol.
Calcium Channel Blockers :
32
These help increase arterial circumference thus they are effective as

both anti-hypertensive as well as anti-anginal drugs. Major drugs are
Nifedipine, Diltiazem, Amlodipine, Verapamil and Felodipine.
Diuretics :
These help increase excretion by kidneys and result in reducing excess

sodium salts in the body. This indirectly helps in lowering high blood
pressure. Major drugs are Frusemide, Spironolactone and Lasamide.
Anti-anginals :
To treat or prevent chest pain due to compromised blood supply to the

heart muscles. The drugs dilate arteries and improve blood flow. Major
drugs are Isosorbide Mononitrate, Isosorbide Dinitrate and
Trimetazidine.
Anti-arrhythmics :
These help stabilise the heart rate and rhythm. But none of the
presently available drugs seem to have optimal effect. Main drugs are
Disopyramide, Quinidine, Propafenone, Amiodarone and Digoxin.
Peripheral Vasodilators :
These selectively dilate blood vessels in the limbs and increase blood
flow to the desired part of the body, without affecting overall blood
pressure. Major drugs are Pentoxyfilline, Isoxsuprine.
DRUG PROPERTIES
Atenolol Beta Blocker
Amlodipine Calcium Channel Blockers
Captopril ACE Inhibitor
Cinnarizine Peripheral Vasodilator
33
Diltiazem Calcium Channel Blockers

Enalapril Maleate ACE Inhibitor
Felodipine Calcium Channel Blockers
Isosorbide Dinitrate Anti-anginal
Isosorbide Mononitrate Anti-anginal
Lisinopril ACE Inhibitor
Methyl Dopa Anti-hypertensive
Nifedipine Calcium Channel Blockers
Pentoxyfilline Peripheral Vasodilator
Perindopril ACE Inhibitor
Ramipril ACE Inhibitor
Verapamil Calcium Channel Blockers
Frusemide Diuretic
Lasamide Diuretic
Spironolactone Diuretic
INTRODUCTION TO PRODUCT
PRODUCT FEATURES
Introduction: Amlopres AT is the combination of two effective
medicines : Amlodipine & Atenolol, which was first introduced by
Cipla in the Indian Market.
34
Product Composition Pack Price

Amlopres AT Each unquated bylayered Tablet Con- Blister
tains Amlodipine 5Mg. & Atenololol 50 Strip of 29.80
Mg. 10Tabs.
Amlpres AT Each unquated bylayered Tablet Con- Blister

25 tains lodipine 5Mg. & Atenololol 25 Strip of 20.50
Mg. 10Tabs.
BRAND POSITIONING :
The Combination of Two Best drugs, for Hypertensive with co-

existing angina.
DESCRIPTION
Amlopres-AT and Amlopres-AT 25 are fixed-dose combinations of
amlodipine and atenolol. Amlodipine is a dihydropyridine calcium
antagonist that inhibits the transmembrane influx of calcium ions into
vascular smooth muscle and cardiac muscle; it has a greater effect on
vascular smooth muscle cells than on cardiac muscle cells. Amlodipine
is a peripheral vasodilator that acts directly on vascular smooth muscle
to cause a reduction in peripheral vascular resistance and reduction in
blood pressure. Amlodipine reduces tone, decreases coronary
vasoreactivity and lowers cardiac demand by reducing afterload.
Atenolol is a cardioselective beta-blocker. It does not possess any

membrane-stabilising or partial agonist action. The cardio-selectivity is
dose-related. Atenolol causes a reduction in blood pressure by lowering
cardiac output, decreasing the plasma renin activity and sympathetic
outflow from CNS. Atenolol also causes a reduction in myocardial
oxygen demand by virtue of its negative inotropic and negative
chronotropic effects.
INDICATIONS
The combination is indicated for the treatment of hypertension and
chronic stable angina.
DOSAGE AND ADMINISTRATION

The recommended dosage is one tablet of Amlopres-AT or
Amlopres-AT 25 daily. If necessary, the dosage may be increased to
two tablets daily. The dosage however should be individualised.
35
CONTRAINDICATIONS
Hypersensitivity to either component, sinus bradycardia, second and
higher degrees of heart block, cardiogenic shock, hypotension,
congestive heart failure, poor left ventricular function.
WARNINGS AND PRECAUTIONS
DRUG INTERACTIONS:
Disopyramide: Atenolol reduces the clearance of disopyramide by 20%.
Additive negative inotropic effects on the heart may be produced.
Ampicillin at doses of 1 g and above may reduce atenolol levels.
Oral antidiabetics and insulin: Beta-blockers may decrease tissue

sensitivity to insulin and inhibit insulin secretion e.g. in response to
oral antidiabetics. Atenolol has less potential for these actions. The
heart rate may not be reliable as an early warning of hypoglycemia.
HYPOTENSION:
Excessive fall of blood pressure can occur in some patients especially
the elderly.
AGGRAVATION OF ANGINA:
Rarely patients, particularly those with severe obstructive coronary
artery disease, have developed increased frequency, duration and/or
severity of angina or acute myocardial infarction on starting calcium
channel blocker therapy.
DRUG WITHDRAWAL:
Since coronary heart disease may exist without being recognised,
patients should be warned against stopping the drug suddenly. Any
discontinuation should be gradual and under observation.
BRONCHOSPASM:
The combination should be used with caution in patients with airway
obstruction.
RENAL IMPAIRMENT:
The combination can be used in patients with renal impairment.
However, caution may be necessary if the creatinine clearance is less
than 30 ml/min because of possible reduction in the excretion of
unchanged atenolol.
HEPATIC IMPAIRMENT:
Caution may be necessary in the use of the combination in patients
36
with severe liver damage because of prolongation of the elimination

half- life of amlodipine.
PREGNANCY:
The combination should be used during pregnancy only if the expected
benefit outweighs the potential foetal risk.
LACTATION:
The combination should not be used by nursing mothers. If its use is
considered necessary, breast feeding should be stopped.
SIDE EFFECTS
The combination of amlodipine and atenolol is well tolerated.
Side effects include headache, palpitations, flushing, edema,
depression, dizziness, dyspepsia, dyspnoea, muscle cramps, fatigue,
cold extremities and bradycardia.
OVERDOSAGE
Though not documented, hypotension and less frequently congestive
cardiac failure may occur in cases of overdosage.
Unabsorbed drugs may be removed by gastric lavage or administration
of activated charcoal. Symptomatic treatment is suggested.
PRESENTATION
Amlopres-AT Blister pack of 10 tablets
Amlopres-AT 25 Blister pack of 10 tablets
DOCTORS ON FOCUS :
 Cardiologists
 Physicians
 General Practitioners
37
COBINATION THERAPY – HIGHLIGHTS : The main benefits in the use of the

Amlopres AT are given below.
Features Benefits
1. Drugs from different class
pharmacokinetically well matched* Neutralisation of adverse
effets
pharmacodynamically well matched * Complementary control by
action on more than one
pathway
pharmaceutically well matched * Stability of Tablet offered
2. Smaller does of individual drug * Lesser incidences of adverse

effects
* Better tolerability and safety
3. Single Tablet * Patient compliance
4. Economical * Better affordability
38
COMPETITOR BRANDS :
1.DIRECT(Amlodipine & Atenolo brands)
Brand Company Pack Price*

Stamlobeta DRL 10 tablets Rs.35.28
Tenochek IPCA 10 tablets Rs.31.00
Amlopin AT USV(Lyka) 10 tablets Rs.29.00
Myo-24 Wockhardt 7 tablets Rs.28.77
Aten-AM Kopran 14 tablets Rs.28.25
Amlogen-AT Bergen 10 tablets Rs.34.00
Amlong-At Micro Labs 10 tablets Rs28.00.
Amlovas-AT Macleods 10 tablets Rs.26.54
Bibidip RPG 10 tablets Rs.26.00
Amloz AT Plethico 14tablets Rs.35.33
Amtas AT Intas 10 tablets Rs.24.25
Amlobet Sun 10 tablets Rs.27.50
Amalong-A MicroLabs 10 tablets Rs.28.00
Amcard AT Systopic 10 tablets Rs.24.90
Amlodac AT Alidac (Cadila) 10 tablets Rs.20.25
Angitol Plus Ind Swift 10 tablets Rs.22.50
Amlo- AT Mano Pharma 10 tablets Rs.19.90
Covardil-A Unichem 10 tablets Rs.25.00
Amlodipin- AT Cadila 14 tablets Rs.37.10
Primodil- AT medley 10 tablets Rs.15.00
39
2. Indirect (Nifedipine & Atenolol Brands)
Brand Compan composition Pack Price*

y
Beta- Unique Atenolol 50 mg + 10 Rs.24.16
Nicardia Nifedipine SR 20 capsules
mg
Cardules Nicholas Atenolol 25 mg + 10 Rs.17.22
Plus 10 Nifedipine SR 10 capsules
mg
Cardules Nicholas Atenolol 50 mg + 10 Rs.24.00
Plus 20 Nifedipine SR 20 capsules
mg
Nilol Intas Atenolol 50 mg + 10 Rs.27.00
Nifedipine SR 10 capsules
mg
presolar cipla Atenolol 50 mg + 10 Rs.30.00
Nifedipine SR 10 capsules
mg
FACTS ABOUT MARKET OF AMLODIPINE + ATENOLOL COMBINATION:
 Total Market of Amlodipine + Atenolol groups: 94 crore
 Total Market Growth rate for this combination is 20%
40
 Total Market of Amlopres AT: 20 crore
 Market Growth rate of Amlopres AT is 17%
 Market Growth rate of UDP AT is 100%
 Market Growth rate of Amlopin AT is 29%
 Market Growth rate of Amlodar AT is 23%]
 Market Growth rate of Amlong A is 17%
 Market Growth rate of Amtas AT is 34%
Source: Survey by C MARK organization.
CORE COMPETENCE:
 Amlopres AT was the first drug of Amlopres + Atenolol
combination in the Indian market, introduced by Cipla Ltd.
DISTRIBUTION:
 For distribution of the product, mainly pull strategy is practiced.
 The product is sold directly to the customer only by the medical

stores only with doctor’s prescription.
 For distribution: the customer comes to the medical store and

asks about the medicine, the medical store owner inquires to
the stockiest situated near to their medical store by direct
contact or by the phone and the stockiest contacts to the dealer
41
of the company or to the godown of the company where the

stocks are delivered from ware houses in the respective regions
and at there the stocks are delivered directly from the production
units.
 In this distribution network, cost of the distribution is on

company up to the stock reaches to the stockiest and while in
the case of the product reaching from stockiest to the various
medical stores charges do mostly the medical stores pay.
MARKETING & PROMOTION:

 For marketing the product one to one marketing strategy is
mainly used. In that doctors are visited by the Sales Executives
of the company to try and convince to prescribe them company’s
product.
 Another helping tool of marketing is the gift method in that

various kinds of gifts are given to the doctor to motivate them to
prescribe their product.
 Many doctors are sponsored by the company for various

meetings and seminars in which mainly the registration is done
by the company as a part of the promotion of the product.
PRODUCT LIFE CYCLE:

 Amlopres AT was introduced in 1996 and after that it has shown
considerable growth for few following years and from last short
span of the time the growth of the product is stagnant and so the
product is in the maturity stage.
FUTURE OF THE PRODUCT:

 As Amlopres AT was first medicine of its kind it has done a
reasonably good business in the Indian market but now it’s
growth is stagnant and by talking to various people it is seen
that sales executives of competitors are trying to force doctors to
42
prescribe their brands on this reason. So it may happen that

after few time Amlopres AT may lose some % of market share.
FINANCIAL ANALYSIS
 Net Sales have grown at a CAGR of 26% in the last three
years which is commendable considering the industry has
grown at only 11-12% in the same period. The growth has
been driven by new product launches in the domestic
market and new initiatives in the export market.
 However, operating margins have declined over the period
from 24.7% in FY98 to 22.3% in FY2001. The main decline
has come over the last two years as the company moved
into the generic generic segment in the domestic market.
This segment has much lower margins than formulations
and has impacted overall profitability. Also, selling expenses
have increased from 2.5% of sales in FY98 to 4.4% in
FY2001, again due to higher trade push strategy in the
domestic market.
43
 Net Profits have grown at a CAGR of 20.5% during the last

three years, lower than sales growth. This was primarily due
to decline in operating margins. Other income during the
same period has grown at 13% CAGR and comprises 16% of
FY2001 PBT. Interest costs have come down to almost nil
from Rs 24 mn in FY98 as cash reserves increase.
 ROCE and ROE of the company are amongst the highest in
the industry at above 25%, but one area of concern is the
declining trend. RoE has dropped from 28% in FY98 to
24.7% in FY2001 while RoE has fallen from 36% to 32% in
the same period. The main reason for drop in return ratios is
the high investment in financial instruments. Investments
which are mainly in low yielding government securities or
other debt instruments have increased at a CAGR of 40%
from FY98-FY2001 and their share if capital employed has
risen from 19% in FY98 to 30% in FY2001.
 For the last three years, debtors have grown at a CAGR of
40%, much higher than sales growth of 26%. Turnover
ratios have worsened for debtors, primarily due to increased
exports. Overall investments in net current assets has
however, grown at 21%.
44
BALANCE SHEET (RS MN)

Period ended 03/98 03/99 03/00 03/01
No. of months 12 12 12 12
SOURCES OF FUNDS
Equity capital 199.9 199.9 599.7 599.7
Capital reserve 0.8 0.8 0.8 0.8
Share premium account 886.6 886.6 486.8 486.8
Revaluation reserve 112.6 110.3 108.2 106.4
Profit & Loss/ General
2,443.4 3,426.5 4,559.6 6,052.9
reserve
Reserves and surplus 3,443.4 4,424.2 5,155.5 6,646.9
Net worth 3,643.3 4,624.1 5,755.2 7,246.6
Secured loans 61.2 237.6 140.5 189.7
Unsecured loans 124.7 98.6 55.2 50.6
Total debt 185.9 336.2 195.7 240.3
Capital employed 3,829.2 4,960.2 5,950.9 7,486.9
APPLICATION OF FUNDS
Gross block 1,787.5 2,138.6 2,423.8 2,838.0
Accumulated depreciation (612.7) (715.9) (843.3) (997.5)
Capital work in progress 50.1 26.3 37.0 31.3
Total fixed assets 1,224.9 1,448.9 1,617.5 1,871.8
Investments 728.2 1,404.0 1,950.0 2,229.3
Inventories 1,479.0 1,584.2 2,122.0 2,753.6
Sundry debtors 535.0 592.3 808.5 1,495.2
Cash & bank balance 30.2 35.4 42.7 58.0
Total loans & advances 1,484.7 1,685.5 1,763.0 2,032.9
Sundry creditors/
(359.0) (398.2) (797.1) (1,090.1)
Acceptances
45
Other liabilities (241.7) (214.1) (465.6) (875.2)

Provisions (1,056.4) (1,181.5) (1,093.0) (990.9)
Net current assets 1,871.8 2,103.6 2,380.5 3,383.5
Miscellaneous expenses 4.3 3.6 3.0 2.3
Capital deployed 3,829.2 4,960.2 5,950.9 7,486.9
Turnover ratios (x)

Net sales to total assets 1.3 1.1 1.2 1.3
Net sales to fixed assets 3.9 3.9 4.3 5.2
Net sales to working capital 2.6 2.7 2.9 2.9
Net sales to inventory 3.3 3.6 3.3 3.5
Gross sales to debtors 9.6 10.4 9.4 7.0
Liquidity ratios (x)
Current ratio 2.1 2.2 2.0 2.1
Debt equity ratio 0.1 0.1 0.0 0.0
Interest cover 60.0 59.5 164.2 304.6
Return on (%)
Networth (post tax) 28.0 24.9 23.1 24.7
Capital employed (pre tax) 35.9 31.7 29.2 31.8
Per share (Rs)
Net earnings (EPS) 51.0 57.5 22.2 29.9
Cash earnings (CPS) 55.4 64.3 24.4 32.5
Dividend payout 6.1 8.3 3.3 5.0
Book value (NAV) 182.2 231.3 96.0 120.8
Asset composition (%)
Net fixed assets 32.0 29.2 27.2 25.0
Working capital 48.9 42.4 40.0 45.2
46
PROFIT & LOSS ACCOUNT (RS MN)

Period ended 03/98 03/99 03/00 03/01
No. of months 12 12 12 12
Gross Sales 5,144.3 6,171.6 7,597.5 10,475.1
Excise Duty (315.3) (470.7) (672.4) (808.3)
Net sales 4,829.0 5,700.9 6,925.1 9,666.8
Other income 265.9 279.9 316.4 386.2
Total income 5,094.9 5,980.8 7,241.5 10,053.0
Raw materials 1,715.4 1,650.5 2,241.7 3,025.7
Stock adjustment (Inc)/ Dec (316.6) 25.5 (343.2) (375.9)
Purchase of finished goods 1,010.3 1,114.4 1,570.1 2,211.0
Cost of material 2,409.1 2,790.5 3,468.6 4,860.8
Employee cost 225.0 291.0 349.2 499.0
Power & fuel 75.9 93.3 106.8 129.3
Advertising/ promotion/
56.6 97.9 170.3 333.8
public
Freight & forwarding 38.6 43.1 67.7 91.6
Other expenses 828.9 956.9 1,207.4 1,598.1
Cost of sales 3,634.0 4,272.6 5,370.1 7,512.6
PBIDT 1,461.0 1,708.2 1,871.4 2,540.4
Interest & finance charges 24.4 28.7 11.4 8.3
PBDT 1,436.6 1,679.5 1,860.0 2,532.0
Depreciation 86.9 135.0 133.4 156.3
PBT 1,349.7 1,544.5 1,726.6 2,375.7
Provision for taxation 330.0 395.0 396.0 585.0
Adjusted PAT 1,019.7 1,149.5 1,330.6 1,790.7
Dividend payout 120.9 166.4 197.4 297.4
Forex inflow 736.1 1,191.9 1,434.4 2,662.3
Forex outflow 482.8 592.2 832.3 1,250.1
Book value of quoted
75.9 30.0 30.0 30.0
investments
Market value of quoted
80.9 31.7 33.8 35.3
investments
Contingent liabilities 184.8 210.6 158.9 335.7
47
RATIOS
As % of net sales
Gross sales 106.5 108.3 109.7 108.4
Excise duty (6.5) (8.3) (9.7) (8.4)
Net sales 100.0 100.0 100.0 100.0
Other income 5.5 4.9 4.6 4.0
Total income 105.5 104.9 104.6 104.0
Cost of material 49.9 48.9 50.1 50.3
Employee costs 4.7 5.1 5.0 5.2
Selling expense 2.0 2.5 3.4 4.4
Other expenses 17.2 16.8 17.4 16.5
Cost of sales 75.3 74.9 77.5 77.7
Profitability ratios (%)
PBIDT excl. other income 24.7 25.1 22.5 22.3
PBIDT 30.3 30.0 27.0 26.3
PBDT 29.7 29.5 26.9 26.2
Profit before tax 28.0 27.1 24.9 24.6
Profit after tax 21.1 20.2 19.2 18.5
Growth ratios (% yoy)
Net sales 13.8 18.1 21.5 39.6
PBIDT 17.2 16.9 9.6 35.7
PBT 31.4 14.4 11.8 37.6
PAT 44.1 12.7 15.8 34.6
Payout ratios (%)
Tax (% of PBT) 24.4 25.6 22.9 24.6
Dividend (% of PAT) 11.9 14.5 14.8 16.6
48
Latest Quarterly Results - 03/2002 (3

months) (Rs mn)
Period ended 02/03 01/03 Growth
No. of months (3) (3) (% yoy)
Sales 3,448.9 2,466.4 39.8
Other income 107.4 138.6 (22.5)
Total income 3,556.3 2,605.0 36.5
Expenditure (2,647.7) (2,118.0) 25.0
Operating profit 908.6 487.0 86.6
Interest (5.0) (0.9) 455.6
Depreciation (71.5) (32.5) 120.0
Profit before tax 832.1 453.6 83.4
Tax (215.0) (110.0) 95.5
Profit after tax 617.1 343.6 79.6
Extra-ord.items/PYA 0.0 0.0 -
Adjusted profit after tax 617.1 343.6 79.6
OPM (%) 23.2 14.1 -
Equity 599.7 599.7 -
EPS (Rs) 41.2 22.9 -
Notes:
1. Provision for tax includes deferred taxation.
2. The Company is exclusively in the pharmaceutical business
segment.
3. The above results were taken on record at the meeting of
the Board of Directors held on April 29, 2002.
BIBILIOGRAPHY:
1. www.cipla.com
2. www.cipladoc.com
49
3. www.indiainfoline.com
4. www.google.com
5. Business Today November-2002 issue
6. Cipla Company literature
50

Comprehensive Report

Загружено:

Сведения о документе

Исходное описание:

Авторское право

Доступные форматы

Поделиться этим документом

Поделиться или встроить документ

Параметры публикации

Этот документ был вам полезен?

Это неприемлемый материал?

Авторское право:

Доступные форматы

Comprehensive Report

Загружено:

Авторское право:

Доступные форматы

A COMPREHANSIVE PROJECT REPORT

PREPARED UNDER GUIDENCE OF

 Pharma`s top 10 companies. 6

 Introduction to the company (cipla ltd.) 7

Research and Development. 25

 Marketing and Promotion. 30

 Expansion and modernization. 32

 Introduction to the product. 39

THE INDIAN PHARMACEUTICAL INDUSTRY:

Export of Indian Pharmaceuticals mainly consists of basic drugs,

The country’s raw material and manufacturing cost structure is

Among the developing countries, the India Pharma Industru leads

The Indian Pharma Industry is characterized by a high level of

The US$300bn global pharmaceutical industry is research

In the Rs160bn Indian pharma sector, prices of over 50% of

Facts: Total Value of Pharma Market is worth 16,235crores.

SOURCE: COMPANY LITERATURE (CIPLA Ltd.)

PHARMA’S TOP 10 COMPANIES

7. NOVARTIES INDIA 805.38 770.3

Above figures shows the business of top 10 Indian Pharma companies.

SOURCE: Business Today November-2002 issue.

INTRODUCTION TO THE COMPANY (CIPLA Ltd.):

Cipla, a India’s leading domestic pharmaceutical company,

Cipla is aggressively expanding its therapeutic reach in high

In college, he found Chemistry fascinating. He set sail for Europe

In October 1927, during the long voyage from Europe to India, he

The search for suitable premises ended at 289, Bellasis Road

MAHATMA GANDHI VISITS CIPLA

On October 31, 1939, the books showed an alltime high loss of

In 1942, Dr Hamied’s blueprint for a technical industrial research

Council of Scientific and Industrial Research(CSIR), which is today the

In 1944, the company bought the premises at Bombay Central

In 1946, Cipla’s product for hypertension, Serpinoid, was

Dr Yusuf Hamied, the founder’s son, returned with a doctorate in

In 1961, the Vikhroli factory started manufacturing diosgenin.

THE FOUNDER PASSES AWAY

Cipla set up an agricultural research division in Bangalore in

AWARDS AND ACHIEVEMENTS

 The Chemexcil First Award followed this, in 1981-82. In 1983,

Dr Y K Hamied- Chairman & Managing Director

The company pioneers the manufacture of the antiretroviral drug,

CIPLA WAS THE FIRST TO INTRODUCE THESE

Vinblastine sulphate Fluticasone

Norfloxacin For HIV infection

Cipla in the past has been focused on the domestic formulations

DEDICATED LICENSED MANUFACTURING FACILITIES

are captively consumed, and merchant sales are targeted

Carloc Simcard Atorlip

Zaart Trivedon-20 Doxacard

Amlopres Amlopres AT Amlopres L

Novamox AX Synclar Norfiox

Novaclox LB Cefoprox Norflox TZ

Acivir Novamox Ciplox

Asthalin Sereflo Inhealers

Bambudil Serobid Rotahealer

Aerocort Beclate Zerostat + spacer

EYE (OPTHELMIC PRODUCTS)

Lavimir Stavir Zidovir

Among the major products launched during the year were:

 Asthalin HFA (salbutamol inhaler) - CFC-free bronchodilator

 Synclar Dry Syrup (clarithromycin) - macrolide antibiotic for

From the active pharmaceutical ingredients (APIs) under

b) Cyproterone acetate -antiandrogen