Cipla Quality Chemicals Industries Limited (CIPLA.ug) HY2022 Interim Report
It is more than a year since the COVID-19 pandemic disrupted our lives and tested us in many ways. Management and staff continue to work with passion to deliver lifesaving medicines to patients. The support from the health workers and our customers during the pandemic is greatly appreciated.
Update on key priority areas
The private market business segment that commenced last year continued to deliver encouraging growth and margins. The product offering in this segment is being expanded to respond to Ugandan patients’ demands in line with our purpose of ‘Caring for Life’. Expansion into new markets continued. We received new orders for DRC which will be serviced in Q3 FY22. Furthermore, we received approval of our first line treatment, TLD, in Kenya.As published earlier, the Board of Directors approved an entry into the oncology space in response to the growing demand for cancer and sickle cell anemia medicines in Uganda.
The Company will construct a new factory focused on oncology products targeting both the Uganda and African markets. Management is progressing with the relevant activities aimed at having the facility commissioned.
Despite the increased pension costs and market development costs after entry into the private market space, management are pleased to report the return to profitability and the significant improvement in performance compared to H1 FY21