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Cipla stands strong with India in the battle against COVID-19

Posted On: 2020-04-21 12:21:43


Cipla Limited (BSE: 500087; NSE: CIPLA EQ; and hereafter referred to as "Cipla"), today announced an INR 25 crore fund to support the Indian Government's efforts to effectively combat the COVID-19 pandemic. This includes a voluntary donation of approximately INR 3 crore from Cipla employees who have stepped forward in this hour of national need. Through its wide-ranging relief efforts, the Company is focusing on initiatives that have the maximum impact and reach. It is currently supporting public health institutions, frontline healthcare workers, vulnerable patients and communities struggling in the aftermath.

Of the INR 25 crores set aside for COVID response, the Company has announced a donation of INR 9 crore to the PM CARES Fund. In addition, Cipla has announced a donation of INR 8 crore to different State authorities. These contributions will help to further several immediate and long-term relief efforts that the country needs to combat the size and scale of the crisis it is confronted with. Over and above, Cipla Foundation, the social responsibility arm of Cipla, has committed INR 4 crore towards COVID response programmes, many of which are already underway. The Company has also allocated INR 4 crore towards the supply of essentials including medicines, personal protective equipment, sanitisers, masks, gloves and food. Cipla is committed to combatting the crisis on multiple fronts:

Caring for patients

The company has implemented a spate of stringent safety measures in line with social distancing norms so that manufacturing and distribution of essential medicines can continue despite challenges of remote working. Employees have been working at manufacturing locations and depots, driven to uphold the interest of patients in these difficult times. Additionally, Cipla has also launched a toll-free helpline to assist its patients in procuring essential medication across therapies from pharmacies and healthcare institutions. Through its Foundation, the company has been supporting public health and charitable hospitals to manage the crisis and serve vulnerable patients in need. Since Maharashtra is one of the worst affected, the Foundation has partnered with several hospitals in Mumbai to strengthen the state's healthcare infrastructure to tackle the pandemic. Towards this, the organization has supported the setting-up of a COVID-19 24/7 testing laboratory at JJ Hospital that will benefit over 4,000 patients as well as the city's only isolation ward for pediatric patients suspected of having COVID-19 at the BJ Wadia Hospital for Children. The Cipla Palliative Care & Training Centre in Pune continues to offer 24/7 care to patients and families during this challenging time.

Caring for the healthcare workforce

To safeguard frontline healthcare workers, the Company is supplying essential items like masks, PPE, gloves and sanitizers to over 10,000 doctors, paramedics and associated institutions including tertiary municipal and district hospitals Webinar series are also being organised through industry bodies like the Indian Chest Society, International Diabetes Federation to equip healthcare workers with necessary information on the pandemic. Through its Foundation, the company is aiming to connect doctors and healthcare workers across India with the AIIMS and ICMR led knowledge network on COVID-19 through ECHO India-a technology-based knowledge sharing platform. These online facilities, the first in India for the pandemic, will be set up at leading government and medical colleges.

Caring for the community

In furtherance of its responsibility to the community, Cipla is providing essential supplies, such as medicines, PPEs, food packets, sanitizers, masks, and gloves to those engaged in essential services like the police and public transport operators as well as individuals living near the Company's facilities. Cipla Foundation continues to partner with organizations on the ground as well as with the local administration to reach those most in need.

Shares of CIPLA LTD. was last trading in BSE at Rs.584.75 as compared to the previous close of Rs. 598.1. The total number of shares traded during the day was 246240 in over 7170 trades.

The stock hit an intraday high of Rs. 599.75 and intraday low of 580.15. The net turnover during the day was Rs. 144674871.


Source: Equity Bulls

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