KAMPALA – Cipla Quality Chemicals Industries Limited (Cipla QCIL) have revealed that they set out a target to be registered in 22 countries in Africa this year.
During their general meeting on August 20, 2020 the company revealed the scorecard to date is that 16 countries have granted approvals, 15 are in progress, and 3 new country applications will be made this financial year.
CiplaQCIL has continued to engage extensively and constructively with the Government of Zambia regarding payment of the over dues this financial year.
Executive Chairman of CiplaQCIL, Emmanuel Katongole revealed that the 2019/2020 financial year was a challenging year especially given the Zambia issues and most recently the COVID-19 pandemic.
“The Company is intent on returning to significant revenue growth in 20/21 as well as, of course, a return to profitability. We can be proud though despite numerous challenges, CiplaQCIL continues to deliver on its ethos of “Caring for Life” by producing quality, affordable medicines to ensure that people have access to life-saving medication,” he said.
In Quarter one, $1.2 million was received. This engagement involves forfeiting the over dues through an international bank to secure guaranteed payment.
According to CEO of CiplaQCIL, Nevin Bradford, the company is relentlessly focussed on driving shareholder value through increased revenues and profitability.
“Even though it was business unusual during the COVID-19 pandemic, CiplaQCIL was fortunate to operate without interruption and even managed to improve attendance and productivity levels during this period. The new financial year 2020/2021 has presented opportunities in increasing the customer base with orders from Botswana for 2.3 million doses of ARVs for adults living with HIV,” he said.
He added that CiplaQCIL is widening its customer base both geographically and customer wise with the entrance into the private market and very significant new direct-to-government sales.
“As part of CiplaQCIL’s expansion strategy, the company has acquired Quality Chemical Ltd.’s distributiondistribution arm of the Cipla India manufactured range of prescription medicines in Uganda. The acquisition takes the form of a transfer of assets of Quality Chemicals Limited, specifically the sales team overseeing the human healthcare portfolio, and is expected to boost the company’s sales growth by expanding its product range while unlocking new business opportunities in the retail distribution market. The transaction will close in the second Quarter.”