Cipla Limited (BSE: 500087; NSE: CIPLA EQ; hereafter referred to as "Cipla") and Boehringer Ingelheim India Pvt. Ltd. (BI) today announced their partnership in India to co-market three new oral anti-diabetics drugs Oboravo® (Empagliflozin), Oboravo Met® (Empagliflozin+Metformin) and Tiptengio® (Empagliflozin+Linagliptin)
Empagliflozin is approved for glucose-control in patients with type-2 diabetes; it is also approved for reducing the risk of cardiovascular death, in patients with type-2 diabetes and established cardiovascular disease. The Empagliflozin + Metformin combination Oboravo Met® can be given to newly diagnosed patients of type-2 diabetes who have higher baseline HbA1c levels.
The Empagliflozin + Linagliptin combination Tiptengio® is the world's first approved combination of an SGLT-2 inhibitor and DPP4 inhibitor. In addition to a strong effect on lowering blood sugar levels, it also addresses multiple pathophysiological defects in type 2 diabetes, and is a big step towards improved management of type 2 diabetes. It will also help in reducing the pill burden for patients and help improve adherence to the prescribed treatment.
As per the International Diabetes Federation, India is home to 77 million adults aged between 20 and 79 years with diabetes, ranking second behind China; and is poised to reach 134.2 million patients by 2045. Fortunately, while the number of patients is increasing, so is the awareness among the public to address it. The Indian diabetes market is valued at INR 1,45,451 million and is growing at 10.35% (IMS MAT May 2020) with the oral anti-diabetic market being valued at INR 1,07,354 million and growing at 11.34% (IMS MAT May 2020).
Commenting on the partnership, Nikhil Chopra, Executive Vice President & CEO - India Business, Cipla said, "We are committed to providing access to innovative medications that address unmet patient needs. Diabetes continues to be a focus area for Cipla and with a strategic partnership with Boehringer Ingelheim coupled with our strong brand building, patient access and reach capabilities, we will be at the forefront of providing holistic diabetes care."
Commenting on the expanded partnership, Mr. Sharad Tyagi, Managing Director - Boehringer Ingelheim India said, "We are excited about the expansion of our partnership with Cipla to provide pioneering medicines through the new oral anti-diabetics drugs. As a dedicated organization to the field of diabetes, we aim to provide wider access and innovative solutions to the medical fraternity and patients with one of the most comprehensive Diabetes portfolios in the country."
Shares of CIPLA LTD. was last trading in BSE at Rs.634.7 as compared to the previous close of Rs. 635.1. The total number of shares traded during the day was 196820 in over 5687 trades.
The stock hit an intraday high of Rs. 643.35 and intraday low of 631.6. The net turnover during the day was Rs. 125308777.