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Cipla Medpro to expand Africa footprint
Generic drug manufacturing company Cipla Medpro wants to expand into the rest of Africa in order to accelerate the company's growth according to a report published in Business Day.
Moreover, it says that the company is planning to launch a specialised oncology department to capitalise on the growing demand for cancer drugs. Jerome Smith, Cipla's chief executive, says that details of a partnership with a Nigerian company are due to be announced by the end of this year.
He says the company is planning to launch its drugs in Tanzania and Kenya next year and is also exploring opportunities in Ghana.
Meanwhile, Business Report says that Cipla Medpro's diluted headline earnings for the six months to June rose to 42,2c per share, sharply up from 24,4c for the same period last year. Revenue climbed by 18% to R842,8 million.
Read more:
- Business Day: Cipla Medpro set on African expansion
- Business Report: Cipla Medpro profits up
