Despite the COVID-19-related challenges that disrupted the supply chains and exports of drugs due to the closing of borders, Cipla Quality Chemical Industries Limited (CiplaQCIL) managed to witness financial improvement in the 2022 FY recording better working capital and profits
Despite the COVID-19-related challenges that disrupted the supply chains and exports of drugs due to closing of borders, Cipla Quality Chemical Industries Limited (CiplaQCIL) managed to witness financial improvement in the 2022 FY recording better working capital and profits.
This was disclosed by the company’s Chief Executive Officer Ajal Kumar at CiplaQCIL media engagement in Kampala recently. He added that over and above the financial performance, the company was able to introduce 3 new products; Azithromycin which was used in COVID treatment, Cipladon+ and Q-TIB. Further, the company also recovered 5.3 million dollars of the Zambia debt.
CiplaQCIL also has laid out its priorities for 2023 that include building a strong sales structure, timely completion for commencement of Oncology facility, a Data-rich tech platform in the supply chain, manufacturing, finance, adding new 9 products in the portfolio along with the expansion of therapeutic areas, improving overall return ratios and so on.
The company has also signed a Memorandum of Understanding with the Government of Uganda for anti-cancer, sickle cell anemia and TB. CiplaQCIL is, a leading Indian pharmaceutical manufacturing company in Sub-Saharan Africa operating in Uganda.
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