Headquarters: Mumbai, India
2016 generic sales: $1.607 billion (estimate)
Cipla turned in an estimated $1.607 billion in global generic sales during its last fiscal year, according to life science commercial intelligence firm Evaluate, enough to place 14th amid the industry’s top players.
The Mumbai-based drugmaker had a change at the top last year when it bid farewell to its CEO Subhanu Saxena in August. Saxena joined Cipla in 2013 after a long stint at Novartis. Under his leadership, the drugmaker made a foray into U.S. manufacturing with the $550 million acquisition of InvaGen Pharmaceuticals in New York and Exelan Pharmaceuticals.
Cipla announced Saxena’s departure as it reported a 6% revenue decline and a 42% decrease in earnings before interest, tax, depreciation and amortization.
The company boasts more than 35 manufacturing facilities, according to its annual report, with sales in more than 100 countries. Its drug production sites outside of India include the U.S., South Africa, Uganda and Yemen.
Back in 2015, the drugmaker implemented a restructuring in an effort to cut costs and boost profitability. In doing so, it exited some international markets in order to focus on growth prospects. With that, the drug company made a move to expand in South Africa, where it committed to spend $89 million on a new biosimilars plant.
Cipla's fiscal year ended on March 31, 2017.