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Companies

Cipla profit rises on strong growth in India, US businesses

US generics business keeps market share in key assets

Employees and security staff work at the reception area of Cipla at its headquarters in Mumbai, India   © Reuters

MUMBAI (NewsRise) -- Indian drug maker Cipla reported a 5.7% rise in third quarter profit on the back of robust growth at home as well as the U.S.

The Indian drug maker has been growing its business amid strong domestic demand as well as supplying to global public health programs. The company's relatively limited exposure to the U.S. generic drug market at about 22% of overall revenue has been helping it sidestep intense price competition in the largest drug market in the world.

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