Cipla seeks double digit growth from retail trade

Drug maker, Cipla Quality Chemicals will be seeking to post above 10 per cent growth in sales as it launches a local new drug retailing strategy.

However, while speaking to Daily Monitor yesterday, Mr Nevin Bradford, the Cipla chief executive officer could not reveal the targeted growth in real value terms but said: “We are looking to grow the business substantially in the coming years. It is difficult to put an exact figure but we are looking at some millions of dollars.”

Early last week Cipla announced it would open up a new sales channel through which it would retail drugs on the local market.

Cipla has been selling much of its drugs, among which include ant-retrovirals and anti-malarials, to governments.

However, the company will seek to retail drugs operated through the newly acquired Shs4.6b sales wing of Quality Chemicals Limited.

The acquisition, which was announced yesterday, will seek to boost the drug makers’ sales by expanding its product line while tapping into new business opportunities in the private (retail) market.

Mr Bradford said the new acquisition will be specific to the private retail market, distributing both imported drugs from Cipla India and those manufactured here.

The drugs, which will be retailed to pharmacies and hospitals through distributors, will, according to Mr Bradford, include treatments for asthma, antibiotics, treatments for fungal infections, gastroenterology (treatments for peptic ulcers), diabetes and high blood pressure.

“Some of these will be manufactured at our facility in Luzira,” he said, noting Cipla had now built capacity to manufacture medicines for both local and export markets.

Exports markets
Last week, while conducting the company’s annual general meeting, Cipla said it was seeking to enter five new markets, which would see its trading and export markets grow to 22 within Africa by the end of this year.