CiplaQCIL Accelerates its Growth Plans
Ajay Kumar Pal, CEO, Cipla Quality Chemical Industries (CiplaQCIL), talks to World Business Journal about the bright future that the medical treatment subsector holds, and how the company is backing several promising advancements in pharmaceuticals and biotechnology.
Can you provide us with an update on the company, following the annual general meeting (AGM) in August 2023?
We concluded our AGM in August 2023 where we shared our company’s performance and outlook with our shareholders. Highlights of the AGM included the company’s continued ability to generate profit and sustain delivery of its strategic priorities. Shares of CiplaQCIL, traded on the Uganda Securities Exchange under the ticker, CQCIL has been recently acquired by Africa Capitalworks (ACW). Deploying permanent equity capital in strategically selected sectors across sub-Saharan Africa, ACW effectively became a majority shareholder in November 2023. This change will accelerate implementation of our growth plans and allow us to expand out critical product range and geographical presence in both the public and private sectors.
Patients are at the centre of what we do, and with our vision of access to quality affordable treatments, we will continue to invest in areas which will ensure the availability, accessibility and affordability of quality pharmaceutical products in a sustainable way.
We remain committed to enhancing product accessibility by expanding our portfolio and broadening market reach through both public and private channels within the EAC region, exporting to more than 12 countries. Our reach within the EAC is complimented by our strong regulatory footprint with product registration in 31 countries across Africa.
What has been achieved in the past five years with respect to medicines for HIV/AIDS and malaria?
Over past five years, significant progress has been made in development, accessibility and effectiveness of medicines for HIV/AIDS and malaria. Improved antiretroviral therapy (ART) have led to more potent, tolerable and convenient treatment regimens, enhancing the quality of life for people living with HIV/AIDS. New prevention strategies have been adopted like the use of pre-exposure prophylaxis, especially among high-risk populations. Global initiatives and awareness campaigns in reducing the stigma; increasing testing and improving access to treatment and care for those living with HIV/AIDS; and continuing research to finding a cure and vaccine.
The treatment of malaria has seen significant progress with the World Health Organisation’s approval for use of two vaccines. Development of new malarial drugs and combination therapies has helped combat drug-resistance strains of malaria. Both HIV/AIDS and malaria treatment landscapes have witnessed advancements in research, treatment effectiveness, treatment modalities, prevention strategies and increased global attention.
What lies in the future for the pharmaceuticals and biotechnology subsectors?
The future of the medical treatment subsector holds several promising advancements and transformation. As well, the subsector has been accelerated by Covid-19 and artificial intelligence (AI). Accelerated research has taken place with personalised medicines and treatments tailored to an individual’s genetic makeup and lifestyle, as well as future advancements in biotechnology, namely genome-editing technologies such as CRISPR. Digital health and telemedicine has created accessibility to health care services, especially in remote or underserved areas. AI application will accelerate drug discoveries, with a shift from treatment toward preventive and predictive health care. Global collaboration on health care will continue to increase, with Africa focused on developing its own pharmaceutical manufacturing industry to become self-sufficient.
Overall, the medical treatment subsector’s future will likely be characterised by innovation, individualised approaches to care, improved accessibility and focus on holistic health outcomes. It will require continuous collaboration, investment in research and regulatory adaptability to harness the full potential of these advancements.