Cipla signs agreement with Novartis Pharma AG

Tags: Economy/Finance National News

Indian multinational pharmaceutical company Cipla entered into a perpetual licence agreement with Switzerland-based pharmaceutical company Novartis Pharma AG.

An Overview of the News 

• The agreement allows Cipla to manufacture and market diabetes drug Galvus and its combination brands from January 1, 2026.

• Galvus is an oral anti-diabetic medicine that contains Vildagliptin as an active ingredient in it. It is used for the treatment of type 2 diabetes.

• The perpetual licence agreement between Cipla and Novartis Pharma AG will enable Cipla to expand its product offerings in the diabetes segment.

About Novartis AG

• It is a multinational pharmaceutical corporation.

• The company is consistently ranked among the top five pharmaceutical companies globally.

• Novartis is one of the world's largest pharmaceutical companies in terms of revenue.

• In 2022, it was ranked as the fourth largest pharmaceutical company by revenue.

CEO - Vasanth Narasimhan

Subsidiaries - Sandoz, Novartis India Ltd.

Headquarters - Basel, Switzerland

Established - 29 February 1996

Founder - Johann Rudolf; Alexander Clavell

About Cipla Limited

• It is an Indian multinational pharmaceutical company.

• It primarily develops drugs to treat medical conditions such as heart disease, arthritis, diabetes, depression and respiratory diseases.

CEO - Umang Vohra

Founder - Khwaja Abdul Hameed

Headquarters - Mumbai

Subsidiaries – Cipla USA Inc., Cipla Health Ltd. etc.