Pharmaceutical major on Thursday announced that its wholly-owned UK subsidiary Cipla (EU) Limited has signed definitive agreements to invest 15 million euros in Ethris GmbH.
Ethris GmbH is a global leader in delivering ribonucleic acid or RNA therapeutics directly to the respiratory system, including administration by inhalation.
The investment will facilitate a long-term strategic partnership between Cipla and Ethris for development of messenger RNA (mRNA)-based therapies, the former said in a release.
The partnership is also aimed at fast-tracking Cipla’s participation in the mRNA space, enabling it to provide access to cutting edge solutions developed by Ethris for the developing countries.
A collaboration agreement is signed concurrently with the definitive agreement, which paves the way to market Ethris’ innovative portfolio in Cipla’s key emerging markets. Cipla expects to complete the transaction within 60 days.
“This collaboration accelerates our innovation journey and enables us to provide access to cutting-edge healthcare solutions to our patients,” Umang Vohra, managing director and global chief executive officer of Cipla, was quoted as saying.
“We expect mRNA-based therapies to be one of the key innovation levers for Cipla..This partnership reinforces Cipla’s strength in respiratory therapy in line with our aspiration of attaining global lung leadership,” Vohra added.
Cipla is a leader in the respiratory care segment, and this makes for a major part of the company’s total revenue.
The company has consistently introduced new products for asthma, chronic obstructive pulmonary disease and allergic rhinitis. More recently, it has introduced drugs to treat diseases such as pulmonary arterial hypertension, lung cancer and idiopathic pulmonary fibrosis.
For the quarter ended September, Cipla reported 6% growth in consolidated revenue to Rs 5,830 crore and a 11% increase in the net profit to Rs 790 crore. For the drugmaker, the two biggest markets — India and the US — did extremely well, as in both regions, the company reported a double-digit growth in revenue.
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