Cipla Readies gSymbicort, Semaglutide Amid Sale Speculation ‘Distraction’

Stake Sale Speculation

Cipla’s senior management gave little away when it came to speculation around the founding Hamied family’s talks for a potential stake sale.(Also see "'Evergreen' Cipla: Chair Hamied Talks New Technologies Amid 'Speculative' Sale News" - Scrip, 11 August, 2023.)

Cipla’s MD and global CEO, Umang Vohra sought to distinguish between the promoters and the company. "We have not heard anything, either way, in terms of the transactions yet. We've been saying that this is speculative from the beginning. We maintain that if there is ever anything that requires a public disclosure, it will be disclosed at that time,” Vohra reiterated at a media briefing.(Also see "Will More Indian Family-Owned Firms Hand Over The Baton To PEs?" - Scrip, 31 July, 2023.)

The executive, though, did indicate that the on-and-off speculation and related uncertainty was leading to some anxiety, though Cipla’s philosophy has always been about investing for the future and “events” should not make a difference to that.

“As a human being, I'm anxious because so many things depend on this decision. Obviously, all of us continuing to work in the organization, that's one big thing,” Vohra said.

“What's more important is just the distraction that this could cause in the business. We're all human beings and get distracted with what happens and that distraction creates difficulties for us in the way we engage with each other and we engage with the organization. That I believe is the biggest impact of this uncertainty”.

Private equity firms and peer Torrent Pharmaceuticals Ltd