Gautam R · Leo Capital
directGLP-1: API manufacturing and fill-finish plans?
We don't manufacture API ourselves. We procure it... Fill and finish right now is through CMO.
CIPLA / Q2-FY26 / claim-ledger
Audit the questions that mattered.
Cipla · Analyst questions, management answers, and the quality of the response where the ledger is available.
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Questions audited
11
Answered directly
86%
Numeric claims
3
Consistency
mixed
Question ledger
What was answered, and how?
Saion Mukherjee · Nomura Securities
directIndia business slowdown and tirzepatide/semaglutide plans?
Yes, there is a slowdown... business is recovering strongly in quarter two... On tirzepatide, we are hoping to launch as soon as we can... On semaglutide, we will evaluate its launch into the market.
Saion Mukherjee · Nomura Securities
declinedUS revenue outlook and generic QVAR launch timeline?
Generic QVAR, I can't speak about it because it's more in the court.
Damayanti Kerai · HSBC
partialTirzepatide deal economics: revenue booking and profit sharing?
We will be launching a brand called Yortiq... product will be supplied by Lilly and marketed by Cipla.
Damayanti Kerai · HSBC
directReason for wider EBITDA margin guidance and higher R&D spend?
It's not because of what you mentioned... first half had benefit of Revlimid... R&D programs picked up... quarter four is usually lowest.
Neha Manpuria · Bank of America
directR&D spend increase details and areas of accelerated filings?
In the similar areas as we've been working on... complex generics... respi, oligo, peptides.
Neha Manpuria · Bank of America
directIndia branded business growth trajectory and Eli Lilly impact?
We are building a very strong franchise on diabetes, cardio, urology... we are growing faster than market already... we will again start delivering market-beating growth.
Surya Narayan Patra · PhillipCapital
directTirzepatide vs semaglutide opportunity post-genericization?
Both molecules will stand on its own... tirzepatide brings very strong and superior science... semaglutide will also be a large market.
Surya Narayan Patra · PhillipCapital
directGross margin decline reason despite strong US sales?
One reason is price decline in quarter two... tender business in Africa picked up... R&D material also hits material cost.
Shashank Krishnakumar · Emkay Global
evasivePre-approval inspection at Kemwell facility and product tech transfer?
It's a fill-finish product. We're not giving the specifics.
Tushar Manudhane · Motilal Oswal Financial Services
directEBITDA margin lower in H2 despite seasonality and launches?
R&D is ramping up in the second half... we've identified a few opportunities... margin is essentially the same range.
Bino Pathiparampil · Elara Capital
directAbraxane launch performance and market share?
Not quite. We were slightly behind... market had extra stock... we are beginning to pick up share now.