8/4/2019 Cipla_vs_Dr_Reddy_Report

http://slidepdf.com/reader/full/ciplavsdrreddyreport 1/10

JKV ADLSJLNLF 

Gjphl uw F~ ^iffz‚w 

Ejblbgjlh Wvlvikibv Lblhzwjw

NZ

Bjmdjh Aypvl <?EB+<><

W~jmlbv M`bfy~j <?EB+<?:

Wly~lnd Vdlflbj <?EB+<?>

Wdl~yb Lhjpy~jl <?FK+<61

Vywdl~ Aypvl <?FK+<54

Vywdl~ Aypvl <?FK+<<9

Uljndlu Gd`yfdl~z <?EB+<<5

Ujblzlm Wlmwibl <?D^+?65

:/5/>?<?

8/4/2019 Cipla_vs_Dr_Reddy_Report

http://slidepdf.com/reader/full/ciplavsdrreddyreport 2/10

Jbfjlb _dl~klgiyvjglh Jbfywv~z

Vdi Jbfjlb pdl~klgiyvjglh jbfywv~z gy~~ibvhz v`pw vdi gdl~v lk`bawv Jbfjl!w wgjibgi+nlwifjbfywv~jiw qjvd qjfi ~lbajba glplnjhjvjiw jb vdi g`kphit ejihf `e f~ya klbyelgvy~i lbf vigdb`h`az" Ldjadhz ̀ ~albjsif wigv`~( vdi Jbfjlb pdl~klgiyvjglh jbfywv~z jw iwvjklvif v` ni q`~vd & 6"9 njhhj`b(a~`qjba lv ln`yv 4 v` : pi~gibv lbbylhhz"

Jv ~lbmw ui~z djad lk`bawv lhh vdi vdj~f q`~hf g`ybv~jiw( jb vi~kw `e vigdb`h`az( |ylhjvz lbf vdi ulwv~lbai `e kifjgjbiw vdlv l~i klbyelgvy~if" Jv ~lbaiw e~`k wjkphi dilflgdi pjhhw v` w`pdjwvjglviflbvjnj`vjgw lbf g`kphit gl~fjlg g`kp`ybfw= lhk`wv iui~z vzpi `e kifjgjbi jw b`q klfi jbvdi Jbfjlb pdl~klgiyvjglh jbfywv~z"

_hlzjba l miz ~`hi jb p~`k`vjba lbf wywvljbjba fiuih`pkibv jb vdi ujvlh ejihf `e kifjgjbiw( Jbfjlb

_dl~kl Jbfywv~z n`lwvw `e |ylhjvz p~`fygi~w lbf klbz ybjvw lpp~`uif nz ~iayhlv`~z lyvd`~jvjiw jb

YWL lbf YM" Jbvi~blvj`blh g`kplbjiw lww`gjlvif qjvd vdjw wigv`~ dlui wvjkyhlvif( lwwjwvif lbfwpil~dilfif vdjw fzblkjg fiuih`pkibv jb vdi plwv 97 zil~w lbf dihpif v` pyv Jbfjl `b vdi

pdl~klgiyvjglh klp `e vdi q`~hf"

Vdi Jbfjlb pdl~klgiyvjglh wigv`~ jw djadhz e~lakibvif qjvd k`~i vdlb >?(??? ~iajwvi~if ybjvw" Jv

dlw itplbfif f~lwvjglhhz jb vdi hlwv vq` figlfiw" Vdi _dl~klgiyvjglh lbf Gdikjglh jbfywv~z jb

Jbfjl jw lb itv~ikihz e~lakibvif kl~miv qjvd wiui~i p~jgi g`kpivjvj`b lbf a`ui~bkibv p~jgi

g`bv~`h" Vdi _dl~klgiyvjglh jbfywv~z jb Jbfjl kiivw l~`ybf 1?) `e vdi g`ybv~z!w fiklbf e`~ nyhm

f~yaw( f~ya jbvi~kifjlviw( pdl~klgiyvjglh e`~kyhlvj`bw( gdikjglhw( vlnhivw( glpwyhiw( ̀ ~lhw lbf

jbcigvlnhi" Vdi~i l~i lpp~`tjklvihz >9? hl~ai ybjvw lbf ln`yv 4??? Wklhh Wglhi Ybjvw( qdjgd e`~k

vdi g`~i `e vdi pdl~klgiyvjglh jbfywv~z jb Jbfjl $jbghyfjba 9 Gibv~lh _ynhjg Wigv`~ Ybjvw*"

Vdi Jbfjlb pdl~klgiyvjglh jbfywv~z qdjgd jw q`~vd YW & 7"< njhhj`b jw a~`qjba lv vdi ~lvi `e <6

pi~gibv pi~ lbbyk"

E`hh`qjba vdi fi+hjgibwjba `e vdi pdl~klgiyvjglh jbfywv~z( jbfywv~jlh hjgibwjba e`~ k`wv `e vdi f~yaw

lbf pdl~klgiyvjglh p~`fygvw dlw niib f`bi lqlz qjvd" Klbyelgvy~i~w l~i e~ii v` p~`fygi lbz f~ya

fyhz lpp~`uif nz vdi F~ya G`bv~`h Lyvd`~jvz" Vigdb`h`ajglhhz wv~`ba lbf v`vlhhz wihe+~ihjlbv( vdi

pdl~klgiyvjglh jbfywv~z jb Jbfjl dlw h`q g`wvw `e p~`fygvj`b( h`q ^%F g`wvw( jbb`ulvjui wgjibvjejg

klbp`qi~( wv~ibavd `e blvj`blh hln`~lv`~jiw lbf lb jbg~ilwjba nlhlbgi `e v~lfi" Vdi

_dl~klgiyvjglh Jbfywv~z( qjvd jvw ~jgd wgjibvjejg vlhibvw lbf ~iwil~gd glplnjhjvjiw( wypp`~vif nz

Jbvihhigvylh _~`pi~vz _~`vigvj`b ~iajki jw qihh wiv v` vlmi `b vdi jbvi~blvj`blh kl~miv"

GJ_HL Vdi Gdikjglh( Jbfywv~jlh % _dl~klgiyvjglh Hln`~lv`~jiw $GJ_HL* iwvlnhjwdif jb <:79" GJ_HL qlw~iajwvi~if lw l pynhjg hjkjvif g`kplbz qjvd lb lyvd`~jsif glpjvlh `e ^w 5 hlmdw" @eejgjlhhz jv niglkieybgvj`blh jb <:71 qjvd jvw ej~wv p~`fygv" Gjphl `eei~w wi~ujgiw hjmi g`bwyhvjba( g`kkjwwj`bjba(ibajbii~jba( p~`cigv lpp~ljwlh( |ylhjvz g`bv~`h( mb`q+d`q v~lbwei~( wypp`~v( lbf phlbv wypphz" Lpl~ve~`k jvw p~iwibgi jb vdi Jbfjlb kl~miv( Gjphl lhw` dlw lb itp`~v kl~miv lbf ~iayhl~hz itp`~vw v`k`~i vdlb <9? g`ybv~jiw jb ~iaj`bw wygd lw B`~vd Lki~jgl( W`yvd Lki~jglb( Lwjl( Iy~`pi( KjffhiIlwv( Lywv~lhjl( lbf Le~jgl" E`~ vdi zil~ ibfif 7< Kl~gd >??1 Gjphl‚w itp`~vw qi~i q`~vdlpp~`tjklvihz ̂ w" <1(9?? kjhhj`b" Gjphl jw lhw` g`bwjfi~lnhz qihh+mb`qb e`~ jvw vigdb`h`ajglhjbb`ulvj`b lbf p~`giwwiw e`~ qdjgd vdi g`kplbz ~igijuif mb`q+d`q ~`zlhvjiw v` vdi vybi `e ^w"19? kjhhj`b fy~jba >??5+?1" Gjphl dlw niib lpp~`uif nz ~iayhlv`~z n`fjiw wygd lw3

8/4/2019 Cipla_vs_Dr_Reddy_Report

http://slidepdf.com/reader/full/ciplavsdrreddyreport 3/10

  Q`~hf Dilhvd @~albjslvj`b

  E``f lbf F~ya Lfkjbjwv~lvj`b $EFL*( YWL

  Vdi~lpiyvjg A``fw Lfkjbjwv~lvj`b $VAL*( Lywv~lhjl

  _dl~klgiyvjglh Jbwpigvj`b G`buibvj`b $_JG*( Ai~klbz

  Blvj`blh Jbwvjvyvi `e _dl~klgz $BJ_*( Dybal~z

  Vdi Kifjgjbiw lbf Dilhvdgl~i p~`fygvw ^iayhlv`~z Laibgz $KD^L* jw vdi YM a`ui~bkibv

laibgz

F~ ^iffz

F~" ^iffz!w Hln`~lv`~jiw Hvf"( v~lfjba lw F~" ^iffz!w( e`ybfif jb <:46 nz F~" M" Lbcj ^iffz( dlw

nig`ki Jbfjl!w wig`bf njaaiwv pdl~klgiyvjglh g`kplbz" F~" Lbcj ^iffz dlf q`~mif jb vdi pynhjghz+

`qbif Jbfjlb F~yaw lbf _dl~klgiyvjglhw Hvf" ^iffz!w klbyelgvy~iw lbf kl~mivw l qjfi ~lbai `e

pdl~klgiyvjglhw jb Jbfjl lbf `ui~wilw" Vdi g`kplbz dlw `ui~ <:? kifjglvj`bw( 5? lgvjui

pdl~klgiyvjglh jba~ifjibvw e`~ f~ya klbyelgvy~i( fjlab`wvjg mjvw( g~jvjglh gl~i( lbf nj`vigdb`h̀ az

p~`fygvw"

F~" ^iffz!w nialb lw l wypphji~ v` Jbfjlb f~ya klbyelgvy~i~w( nyv jv w``b wvl~vif itp`~vjba v` `vdi~

hiww+~iayhlvif kl~mivw vdlv dlf vdi lfulbvlai `e b`v dlujba v` wpibf vjki lbf k`biz `b

l klbyelgvy~jba phlbv vdlv vdlv q`yhf aljb lpp~`ulh e~`k l f~ya hjgibwjba n`fz wygd lw vdi Y"W"

E``f lbf F~ya Lfkjbjwv~lvj`b $EFL*" Nz vdi il~hz <::?w( vdi itplbfif wglhi lbf p~`ejvlnjhjvz e~`kvdiwi yb~iayhlvif kl~mivw iblnhif vdi g`kplbz v` niajb e`gywjba `b aivvjba lpp~`ulh e~`k f~ya

~iayhlv`~w e`~ vdij~ e`~kyhlvj`bw lbf nyhm f~ya klbyelgvy~jba phlbvw jb k`~i+fiuih`pif ig`b`kjiw"

Vdjw lhh`qif vdij~ k`uikibv jbv` ~iayhlvif kl~mivw wygd lw vdi YW lbf Iy~`pi" 

GJ_HL  F~" ^iffzw 

Nlhlbgi Wdiiv $jb ^w" G~"* 

Kl~ !?4 Kl~ !?: Kl~ !<? Kl~ !?4 Kl~ !?: Kl~ !<?

<> kvdw <> kvdw <> kvdw <> kvdw <>

kvdw

<>

kvdw

W`y~giw @e Eybfw 

V`vlh Wdl~i Glpjvlh <99"65 <99"65 <5?"94 46"?: 46"> 46"6

I|yjvz Wdl~i Glpjvlh <99"65 <99"65 <5?"94 46"?: 46"> 46"6

Wdl~i Lpphjglvj`b K`biz ? ? ? ? ? ?

_~iei~ibgi Wdl~i Glpjvlh ? ? ? ? ? ?

^iwi~uiw 79:<"7: 6<45"7> 9166"96 61>1"1> 9<16": 947?">

^iulhylvj`b ^iwi~uiw 4":1 4":1 4":1 ? ? ?

Bivq`~vd 7199"4> 679?"19 9:<6"?: 64<<"4< 9>9:"< 9:<6"5

Wigy~if H`lbw <5":4 >"1: ?"6< 7"6 >"5 ?"4

Ybwigy~if H`lbw 957"99 :71"69 6"55 694":< 571"1 95>"6

8/4/2019 Cipla_vs_Dr_Reddy_Report

http://slidepdf.com/reader/full/ciplavsdrreddyreport 4/10

V`vlh Finv 94?"97 :6?">6 9"?1 65>"7< 56?"7 957">

V`vlh Hjlnjhjvjiw 6775"79 9>:?":: 9:<:"<5 9>16"<> 94::"6 5611"4

Kl~ !?4 Kl~ !?: Kl~ !<? Kl~ !?4 Kl~ !?: Kl~ !<?

<> kvdw <> kvdw <> kvdw <> kvdw <>

kvdw

<>

kvdw

Lpphjglvj`b @e EybfwA~`ww Nh`gm >>?<"1: >5:7">: >4:9"66 <19?">< ><91"7 >6>9"1

Hiww3 Lggyk" Fip~igjlvj`b 96?"67 1??"4 446">1 15>"4 :65"9 <<<?"<

Biv Nh`gm <55<"75 <::>"6: >?<<"<1 :41"6< <><?"4 <7<9"5

Glpjvlh Q`~m jb _~`a~iww >77"<> 755"7> 546">6 >69"1< 6<<"> 169"6

Jbuiwvkibvw :6"19 4<"7> >59"< >?4?"1< <459"< >59>"1

Jbuibv`~jiw <<>?"6: <7:4"7> <9<>"94 56?":7 179"< 4:1"6

Wybf~z Finv`~w <7:7":< <471"<9 <99>"1< 4:1"1< <6<:"1 <?5?"9

Glwd lbf Nlbm Nlhlbgi 1:"<> 9>"46 5?"7> 51"<: 46"7 61":V`vlh Gy~~ibv Lwwivw >9:7"9> 7>44"7< 7<>9"5< <5?9"47 >>7:"< >??9"4

H`lbw lbf Lfulbgiw <<9?"7 <<7<"< >791">: <>1>"?> <77<"> <7><"6

Ejtif Fip`wjvw ?"<5 ?"<5 ?"9> 61?"<9 7??"< 7>?"<

V`vlh GL( H`lbw % Lfulbgiw 7167":4 66<:"91 9647"6> 7764 741?"6 7561"7

Fiei~~if G~ifjv ? ? ? ? ? ?

Gy~~ibv Hjlnjhjvjiw :4?"?9 <<11 <<11"<< 145"75 <<57"7 <967"4

_~`ujwj`bw 6<5"4< 7:<"1< <761"55 5?<"74 >:6"4 77:"6

V`vlh GH % _~`ujwj`bw <7:5"45 <954"1< >9>6"11 <741"16 <694"< <447">

Biv Gy~~ibv Lwwivw >761"<> >49?"45 >:94"59 <:5?">5 >6<>"7 <156"<

Kjwgihhlbi`yw Itpibwiw ? ? ? ? ? ?V`vlh Lwwivw 6775"79 9>:?":: 9:<:"<5 9>16"?: 94::"6 5611"4

G`bvjbaibv Hjlnjhjvjiw <556"94 17?"19 6>7"41 <4:>"99 <:76"4 >?<5"<

N``m Ulhyi $^w* 64"> 99"45 17"99 >45"<> 7<>"<1 79?"7

Gjphl  F~ ^iffzw

_~`ejv % H`ww lgg`ybv $jb ^w"G~"* 

Kl~ !?4 Kl~ !?: Kl~ !<? Kl~ !?4 Kl~ !?: Kl~ !<?

<>kvdw

<>kvdw

<>kvdw

<>kvdw

<>kvdw

<>kvdw

Jbg`ki 

Wlhiw Vy~b`ui~ 6>:7":9 9>:9"77 9591"49 76>4"6 6?4?"6 665:"5

Itgjwi Fyvz :?"55 5<"?6 9>"<5 46"9< 4?": 16

Biv Wlhiw 6>?7">: 9>76">: 95?9"5: 7767"4: 7:::"9 67:9"5

@vdi~ Jbg`ki <76":> +<7:"9< <>9"1< <:1">: ><>"> >96

Wv`gm Lfcywvkibvw 6<"71 <<7"99 <46"?: :7"41 56"< <<1"7

V`vlh Jbg`ki 671:"94 9>?4"77 9:<9"6: 7579"?9 6>19"4 6155":

Itpibfjvy~i

8/4/2019 Cipla_vs_Dr_Reddy_Report

http://slidepdf.com/reader/full/ciplavsdrreddyreport 5/10

^lq Klvi~jlhw ><5>"64 >9<7"<< >541"96 <761"77 <976 <9::"6

_`qi~ % Eyih G`wv :5": :<"1< :>"<9 11"<> :? <?6"<

Ikph`zii G`wv >99"69 >1<"77 7<4"41 755">4 6<>"9 9<5"6

@vdi~ Klbyelgvy~jba Itpibwiw >77": >5>"59 >9:"51 <7?"79 <?9": <<1"7

Wihhjba lbf Lfkjb Itpibwiw 961"< 441">4 451":4 4:5"96 <<<1": <?75"5

Kjwgihhlbi`yw Itpibwiw :5"55 15":> <4>"56 71"66 69"7 9?"5

_~i`pi~lvjui Itp Glpjvlhjwif ? ? ? ? ? ?

V`vlh Itpibwiw 77:>"6: 6<?7 66?4"49 >499"?5 77?9"5 76>6"6

Kl~ !?4 Kl~ !?: Kl~ !<? Kl~ !?4 Kl~ !?: Kl~ !<?

<>kvdw

<>kvdw

<>kvdw

<>kvdw

<>kvdw

<>kvdw

@pi~lvjba _~`ejv 49>"<1 <>66"46 <74?":7 94>"1 194 <?44"9

_NFJV :41"?: <<?9"77 <9?5"56 11:":: :1?"> <76>"9

Jbvi~iwv <4"?9 9>">7 >4"7 <6"5: >1"6 <5

_NFV :5:"?6 <?97"< <614"76 159"7 :6>"4 <7>5"9

Fip~igjlvj`b <7?"54 <9<"1: <59">9 <5<":: <:7"5 >>>"6

@vdi~ Q~jvvib @ee ? ? ? >?"1< <:"1 <:"7

_~`ejv Nie`~i Vlt 474"75 :?<"7< <7<7"?: 94>"5 1>:"9 <?46"4

Itv~l+`~fjbl~z jvikw ? ? <<": +?"?5 +?"< +?"<

_NV $_`wv Itv~l+`~f Jvikw* 474"75 :?<"7< <7>6":: 94>"96 1>:"6 <?46"1

Vlt <75":7 <>6"9 >67"9 <?4"44 <54"5 >74"1

^ip`~vif Biv _~`ejv 1?<"67 115"4< <?4<"6: 619">> 95?": 465"<

V`vlh Ulhyi Lffjvj`b <>7?"?< <94:"4: <1><"7< <9?1"17 <11<"5 <4>9

_~iei~ibgi Fjujfibf ? ? ? ? ? ?

I|yjvz Fjujfibf <99"65 <99"65 <5?"94 57"?5 <?9"7 <:?

G`~p`~lvi Fjujfibf Vlt >5"6> >5"6> >5"51 <?"1> <1"4 7<"5

_i~ wdl~i flvl $lbbylhjwif*

Wdl~iw jb jwwyi $hlmdw* 111>":< 111>":< 4?>:">< <54<"17 <546"5: <544"69

Il~bjba _i~ Wdl~i $^w* :"?> :":: <7"61 >4">5 77">: 9?"<<

I|yjvz Fjujfibf $)* <?? <?? <?? 19 <>9 >>9

N``m Ulhyi $^w* 64"> 99"45 17"99 >45"<> 7<>"<1 79?"7

Gjphl F~ ^iffzw

Nlhlbgi Wdiiv $jb ^w" G~"*  Jbg~ilwi$Fig~ilwi* Jbg~ilwi$Fig~ilwi*

Kl~ !?: Kl~ !<? Lk`ybv ) Kl~ !?: Kl~!<?

Lk`ybv )

<> kvdw <> kvdw <>kvdw

<> kvdw

W`y~giw @e Eybfw 

V`vlh Wdl~i Glpjvlh <99"65 <5?"94 9"<> 7">:) 46"> 46"6 ?">? ?">6)

I|yjvz Wdl~i Glpjvlh <99"65 <5?"94 9"<> 7">:) 46"> 46"6 ?">? ?">6)

Wdl~i Lpphjglvj`b K`biz ? ? ?"?? BL ? ? ?"?? BL

8/4/2019 Cipla_vs_Dr_Reddy_Report

http://slidepdf.com/reader/full/ciplavsdrreddyreport 6/10

_~iei~ibgi Wdl~i Glpjvlh ? ? ?"?? BL ? ? ?"?? BL

^iwi~uiw 6<45"7> 9166"96 <994">> 71">>) 9<16": 947?"> 599"7? <>"55)

^iulhylvj`b ^iwi~uiw 4":1 4":1 ?"?? ?"??) ? ? ?"?? BL

Bivq`~vd 679?"19 9:<6"?: <957"76 79":7) 9>9:"< 9:<6"5 599"9? <>"65)

Wigy~if H`lbw >"1: ?"6< $>"74* +49"7?) >"5 ?"4 $<"4?* +5:">7)

Ybwigy~if H`lbw :71"69 6"55 $:7>"1:* +::"9?) 571"1 95>"6 $19"7?* +<<"4<)

V`vlh Finv :6?">6 9"?1 $:79"<1* +::"65) 56?"7 957"> $11"<?* +<>"?6)

V`vlh Hjlnjhjvjiw 9>:?":: 9:<:"<5 5>4"<1 <<"41) 94::"6 5611"4 914"6? :"4?)

Kl~ !?: Kl~ !<? Jbg~ilwi$Fig~ilwi* Kl~ !?: Kl~!<?

Jbg~ilwi$Fig~ilwi*

<> kvdw <> kvdw Lk`ybv ) <>kvdw

<>kvdw

Lk`ybv )

Lpphjglvj`b @e EybfwA~`ww Nh`gm >5:7">: >4:9"66 >?>"<9 1"9<) ><91"7 >6>9"1 >54"6? <>"66)

Hiww3 Lggyk"Fip~igjlvj`b

1??"4 446">1 <47"61 >5"<4) :65"9 <<<?"< <57"5? <1">4)

Biv Nh`gm <::>"6: >?<<"<1 <4"54 ?":6) <><?"4 <7<9"5 <?6"4? 4"55)

Glpjvlh Q`~m jb _~`a~iww 755"7> 546">6 7<1":> 45"1:) 6<<"> 169"6 776">? 4<">1)

Jbuiwvkibvw 4<"7> >59"< <47"14 >>5"??) <459"< >59>"1 141"5? 6>">7)

Jbuibv`~jiw <7:4"7> <9<>"94 <<6">5 4"<1) 179"< 4:1"6 <5>"7? >>"?4)

Wybf~z Finv`~w <471"<9 <99>"1< $>46"66* +<9"64) <6<:"1 <?5?"9 $79:">?* +>9"7?)

Glwd lbf Nlbm Nlhlbgi 9>"46 5?"7> 1"64 <6"<5) 46"7 61": $75"6?* +67"<4)

V`vlh Gy~~ibv Lwwivw 7>44"7< 7<>9"5< $<5>"1?* +6":9) >>7:"< >??9"4 $>77"7?* +<?"6>)

H`lbw lbf Lfulbgiw <<7<"< >791">: <>>5"<: <?4"6<) <77<"> <7><"6 $:"4?* +?"16)

Ejtif Fip`wjvw ?"<5 ?"9> ?"75 >>9"??) 7??"< 7>?"< >?"?? 5"55)

V`vlh GL( H`lbw %Lfulbgiw

66<:"91 9647"6> <?57"49 >6"?1) 741?"6 7561"7 $>>7"<?* +9"15)

Fieei~if G~ifjv ? ? ?"?? BL ? ? ?"?? BL

Gy~~ibv Hjlnjhjvjiw <<11 <<11"<< ?"<< ?"?<) <<57"7 <967"4 74?"9? 7>"1<)

_~`ujwj`bw 7:<"1< <761"55 :99":9 >66"?9) >:6"4 77:"6 66"5? <9"<7)

V`vlh GH % _~`ujwj`bw <954"1< >9>6"11 :95"?5 5?":9) <694"< <447"> 6>9"<? >:"<9)

Biv Gy~~ibv Lwwivw >49?"45 >:94"59 <?1"1: 7"14) >6<>"7 <156"< $564">?* +>5"41)

Kjwgihhlbi`yw Itpibwiw ? ? ?"?? BL ? ? ?"?? BL

V`vlh Lwwivw 9>:?":: 9:<:"<5 5>4"<1 <<"41) 94::"6 5611"4 914"6? :"4?)

G`bvjbaibv Hjlnjhjvjiw 17?"19 6>7"41 $7?5"44* +6>"??) <:76"4 >?<5"< 4<"7? 6">?)

N``m Ulhyi $^w* 99"45 17"99 <1"5: 7<"51) 7<>"<1 79?"7 74"<7 <>"><)

_~`ejv % H`ww lgg`ybv $jb ^w" G~"* 

Kl~ !?: Kl~ !<? Jbg~ilwi$Fig~ilwi* Kl~ !?: Kl~!<?

Jbg~ilwi$Fig~ilwi*

<> kvdw <> kvdw Lk`ybv ) <>kvdw

<>kvdw

Lk`ybv )

Jbg`ki

8/4/2019 Cipla_vs_Dr_Reddy_Report

http://slidepdf.com/reader/full/ciplavsdrreddyreport 7/10

Wlhiw Vy~b`ui~ 9>:9"77 9591"49 75>"9> 5"49) 6?4?"6 665:"5 74:">? :"96)

Itgjwi Fyvz 5<"?6 9>"<5 $4"44* +<6"99) 4?": 16 $5":?* +4"97)

Biv Wlhiw 9>76">: 95?9"5: 71<"6? 1"<?) 7:::"9 67:9"5 7:5"<? :":?)

@vdi~ Jbg`ki +<7:"9< <>9"1< >59">> ''''''' ><>"> >96 6<"4? <:"1?)

Wv`gm Lfcywvkibvw <<7"99 <46"?: 1?"96 5>"<>) 56"< <<1"7 97">? 47"??)

V`vlh Jbg`ki 9>?4"77 9:<9"6: 1?1"<5 <7"94) 6>19"4 6155": 6:<"<? <<"6:)

Itpibfjvy~i

^lq Klvi~jlhw >9<7"<< >541"96 <16"67 5":6) <976 <9::"6 59"6? 6">5)

_`qi~ % Eyih G`wv :<"1< :>"<9 ?"66 ?"64) :? <?6"< <6"<? <9"51)

Ikph`zii G`wv >1<"77 7<4"41 61"96 <1"9>) 6<>"9 9<5"6 <?7":? >9"<:)

@vdi~ Klbyelgvy~jbaItpibwiw

>5>"59 >9:"51 $>":4* +<"<7) <?9": <<1"7 <<"6? <?"15)

Wihhjba lbf LfkjbItpibwiw

441">4 451":4 $<:"7?* +>"<4) <<<1": <?75"5 $4<"7?* +1">1)

Kjwgihhlbi`yw Itpibwiw 15":> <4>"56 <?9"1> <71"66) 69"7 9?"5 9"7? <<"1?)

_~i`pi~lvjui ItpGlpjvlhjwif

? ? ?"?? BL ? ? ?"?? BL

V`vlh Itpibwiw 6<?7 66?4"49 7?9"49 1"69) 77?9"5 76>6"6 <<4"4? 7"9:)

Kl~ !?: Kl~ !<? Jbg~ilwi$Fig~ilwi* Kl~ !?: Kl~!<?

Jbg~ilwi$Fig~ilwi*

<> kvdw <> kvdw Lk`ybv ) <>kvdw

<>kvdw

Lk`ybv )

@pi~lvjba _~`ejv

<>66"46 <74?":7 <75"?: <?":7) 194 <?44"9 77?"9? 67"5?)

_NFJV <<?9"77 <9?5"56 6?<"7< 75"7<) :1?"> <76>"9 71>"7? 74"71)

Jbvi~iwv 9>">7 >4"7 $>7":7* +69"4>) >1"6 <5 $<<"6?* +6<"5<)

_NFV <?97"< <614"76 6>9">6 6?"74) :6>"4 <7>5"9 747"1? 6?"1?)

Fip~igjlvj`b <9<"1: <59">9 <7"65 4"41) <:7"5 >>>"6 >4"4? <6"44)

@vdi~ Q~jvvib @ee ? ? ?"?? BL <:"1 <:"7 $?"6?* +>"?7)

_~`ejv Nie`~i Vlt :?<"7< <7<7"?: 6<<"14 69"5:) 1>:"9 <?46"4 799"7? 64"1?)

Itv~l+`~fjbl~z jvikw ? <<": <<":? BL +?"< +?"< ?"?? ?"??)

_NV $_`wv Itv~l+`~f Jvikw* :?<"7< <7>6":: 6>7"54 61"?<) 1>:"6 <?46"1 799"7? 64"1<)

Vlt <>6"9 >67"9 <<:"?? :9"94) <54"5 >74"1 1?"<? 6<"94)

^ip`~vif Biv _~`ejv 115"4< <?4<"6: 7?6"54 7:">>) 95?": 465"< >49">? 9?"49)

V`vlh Ulhyi Lffjvj`b <94:"4: <1><"7< <7<"6> 4">1) <11<"5 <4>9 97"6? 7"?<)

_~iei~ibgi Fjujfibf ? ? ?"?? BL ? ? ?"?? BL

I|yjvz Fjujfibf <99"65 <5?"94 9"<> 7">:) <?9"7 <:? 46"1? 4?"66)

G`~p`~lvi Fjujfibf Vlt >5"6> >5"51 ?">9 ?":9) <1"4 7<"5 <7"4? 11"97)

_i~ wdl~i flvl $lbbylhjwif*

Wdl~iw jb jwwyi $hlmdw* 111>":< 4?>:">< >95"7? 7"7?) <546"5: <544"9 7"15 ?">>)

Il~bjba _i~ Wdl~i $^w* :":: <7"61 7"64 76"47) 77">: 9?"<< <5"4> 9?"97)

I|yjvz Fjujfibf $)* <?? <?? ?"?? ?"??) <>9 >>9 <??"?? 4?"??)

N``m Ulhyi $^w* 99"45 17"99 <1"5: 7<"51) 7<>"<1 79?"7 74"<7 <>"><)

^lvj`w  Gjphl F~ ^iffzw

_~`ejvlnjhjvz ^lvj`w  >??4 >??: >?<? >??4 >??: >?<?

Biv _~`ejv ^lvj` 

8/4/2019 Cipla_vs_Dr_Reddy_Report

http://slidepdf.com/reader/full/ciplavsdrreddyreport 8/10

Biv _~`ejvw 474"75 :?<"7< <7<7"?: 94>"96 1>:"6 <?46"1

Biv Wlhiw 6>?7">: 9>76">: 95?9"5: 7767"4: 7:::"9 67:9"5

^lvj` <:":6977 <1"><:76 >7"6>6>6 <1"6><?7 <4">71>4 >6"515:9

^ivy~b `b Biv q`~vd 

_LV 1?<"67 115"4< <?4<"6: 619">> 95?": 465"<

Biv q`~vd 7199"4> 679?"19 9:<6"?: 64<<"4< 9>9:"< 9:<6"5

^lvj` <4"5194> <1"4965> <4">4551 :"415<<1 <?"5597> <6"7?9>4

^ivy~b `b Glpjvlhikph`zif _LV 1?<"67 115"4< <?4<"6: 619">> 95?": 465"<

Glpjvlh ikph`zif 6775"79 9>:?":: 9:<:"<5 9>16"?: 94::"6 5611"4

^lvj` <5"<199: <6"54<19 <4">1< :"?<?656 :"9?1161 <7"?5<97

^ivy~b `b V`vlh Lwwivw Biv p~`ejv nie`~i vlt 474"75 :?<"7< <7>6":: 94>"96 1>:"6 <?46"1

Biv Ejtif lwwivw <4:6"64 >794"4< >5:9"6< <>77"<> <5>> >?5<

Jbuiwvkibvw :6"19 4<"7> >59"< >?4?"1< <459"< >59>"1

Gy~~ibv Lwwivw >9:7"9> 7>44"7< 7<>9"5< <5?9"47 >>7:"< >??9"4

V`vlh 694>"19 91>4"66 5?45"<> 6:<:"55 91>5"> 51<:"9

^@VL  <4">:74> <9"177:9 ><"11?54 <<"46<?5 <>"171:6 <5"<6>91

Hj|yjfjvz ^lvj`w 

Gy~~ibv ^lvj`w 

Gy~~ibv Lwwivw >9:7"9> 7>44"7< 7<>9"5< <5?9"47 >>7:"< >??9"4Gy~~ibv Hjlnjhjvjiw :4?"?9 <<11 <<11"<< 145"75 <<57"7 <967"4

Gy~~ibv ^lvj`  >"5657<6 >"1:74?5 >"5997>9 >"?6><?9 <":>6147 <">::>5>

Hj|yjf ^lvj` 

Gy~~ibv Lwwivw >9:7"9> 7>44"7< 7<>9"5< <5?9"47 >>7:"< >??9"4

Jbuibv`~z <<>?"6: <7:4"7> <9<>"94 56?":7 179"< 4:1"6

Gy~~ibv Lwwivw hiwwjbuibv`~z

<(617"?7 <(44:":: <(5<7"?7 :56": <9?6 <<?4"6

Gy~~ibv Hjlnjhjvjiw :4?"?9 <<11 <<11"<< 145"75 <<57"7 <967"4

Hj|yjf ^lvj`  <"9?7?<9 <"5?915: <"71?77< <">>1?65 <">:>416 ?"1<1:5:

Vy~b`ui~ ^lvj`w 

Jbuibv`~z Vy~b`ui~ ^lvj` 

A~`ww Wlhiw 6>:7":9 9>:9"77 9591"49 76>4"6 6?4?"6 665:"5

Jbuibv`~z <<>?"6: <7:4"7> <9<>"94 56?":7 179"< 4:1"6

JV^ 7"47>>?1 7"145:>7 7"16?9>: 9"76:<?> 9"99?4?: 6":4?5<<

Jbuibv`~z d`hfjba pi~j`f$flzw*

:7":6?56 :9"?57:: :5">67?5 51"7?<?> 56"4996< 1>">4?>:

Finv`~w Vy~b`ui~ ^lvj` 

Wlhiw 6>?7">: 9>76">: 95?9"5: 7767"4: 7:::"9 67:9"5

8/4/2019 Cipla_vs_Dr_Reddy_Report

http://slidepdf.com/reader/full/ciplavsdrreddyreport 9/10

Wybf~z finv`~w <7:7":< <471"<9 <99>"1< 4:1"1< <6<:"1 <?5?"9

FV^ $vjkiw* 7"?<9651 >"46:<75 7"5<?>5> 7"1>6:<< >"4<1<66 6"<66471

G~ifjv pi~j`f $flzw* <<:"7469 <>5"796< ::"1<919 :5"5655 <>1"14: 45"499?6

W`huibgz ^lvj`w 

Finv/ Glpjvlh ikph`zif ^lvj` 

Finv 94?"97 :6?">6 9"?1 65>"7< 56?"7 957">

Glpjvlh Ikph`zif 6775"79 9>:?":: 9:<:"<5 9>16"<> 94::"6 5611"4

Finv/ Glpjvlh ikph`zif^lvj`

?"<77419 ?"<111?5 ?"???491 ?"?41595 ?"<?4975 ?"?45:67

Jbvi~iwv g`ui~lai ~lvj` 

_NJV 495"6< :97"96 <76<"7: 5<4 115"5 <<>?"<

Jbvi~iwv <4"?9 9>">7 >4"7 <6"5: >1"6 <5

_NJV/Jbvi~wv 61"66596 <4">9595 61"7:4:6 6>"?5:67 >4"767?1 1?"??5>9

Miz b`viw ln`yv Ejblbgjlh ^lvj` Lblhzwjw3

_~`ejvlnjhjvz ̂ lvj`w3

Biv p~`ejv ~lvj`3 Jv jw vdi ~lvj` `e Biv p~`ejvw v` Biv wlhiw" Jv jw |yjvi wjkjhl~ e`~ n`vd vdi g`kplbjiw"Vdi~i qlw l g`bwjfi~lnhi fig~ilwi jb >??: lw g`kpl~if v` >??4 e`~ Gjphl" Jv glb ni lvv~jnyvif v` lg`bwjfi~lnhi jbg~ilwi jb g`wv `e ~lq klvi~jlhw lbf wihhjba lbf lfkjb itpibwiw" Lhw` vdi ~lvj`jbg~ilwif e`~ F~" ^iffz jb >?<? lw g`kpl~if v` vdlv `e >??: fyi v` l f~lwvjg jbg~ilwi jb p~`ejvw"

^ivy~b `b Biv q`~vd3 Jv jw vdi ~lvj` `e biv p~`ejv v` biv q`~vd `e vdi g`kplbz" Jv dlw niib lhk`wv vdiwlki e`~ 7 zil~w jb glwi `e Gjphl fyi v` g`bwjfi~lnhi jbg~ilwi jb vdi ~iwi~uiw lbf wy~phyw qdjgdg`ybvi~lgvif vdi jbg~ilwi jb p~`ejvw" Vdi glwi dlw niib fjeei~ibv e`~ F~" ^iffz qdjgd dlw wd`qb lg`bwjfi~lnhi jbg~ilwi jb vdi ^ivy~b `b biv q`~vd" Vdjw jw niglywi vdi pi~gibvlai jbg~ilwi jb jvw bivp~`ejv dlw niib qlz ldilf `e vdlv jb glwi `e ~iwi~uiw lbf wy~phyw lbf biv q`~vd lw l qd`hi"

^ivy~b `b glpjvlh ikph`zif3 Jv jw vdi ~lvj` `e Biv p~`ejvw v` vdi v`vlh glpjvlh ikph`zif" Wjbgi vdifinvw vlmib nz vdi g`kplbjiw l~i biahjajnhi( vdyw vdi ^@GI ~lvj`w l~i |yjvi wlki lw ^ivy~b `b bivq`~vd" D`qiui~ vdi~i jw lb lb`klhz" Vdi >??: ^@GI e`~ Gjphl jw g`bwjfi~lnhz fjeei~ibv e~`k vdi^ivy~b `b biv q`~vd vdlv zil~" Jv jw niglywi `e vdi hl~ai v`vlh finvw `e ln`yv :6? g~`~iw" D`qiui~vdiz l~i ~ipljf vdi bitv zil~"

^ivy~b `b V`vlh Lwwivw3 Jv jw vdi ~lvj`b `e Biv p~`ejv v` vdi v`vlh lwwivw qdjgd jbghyfi vdi biv nh`gm(gy~~ibv lwwivw lbf jbuiwvkibvw" Vdi ^@VL e`~ Gjphl jw djadi~ vdlb vdlv `e F~" ^iffz" Jv jkphjiw vdlvGjphl jw nivvi~ ywjba jvw lwwivw lw g`kpl~if v` F~" ^iffz"

Hj|yjfjvz ^lvj`w3

Gy~~ibv ̂ lvj`3 Jv jw glhgyhlvif lw vdi ~lvj` `e vdi gy~~ibv lwwivw `e l g`kplbz v` jvw gy~~ibv hjlnjhjvjiw"Vdi jbfywv~jlh lui~lai `e vdi gy~~ibv ~lvj` e`~ vdi Jbfjlb pdl~kl jbfywv~z jw <"69"E`~ Gjphl jv wvlbfw lv >"59 lw g`kpl~if v` <">: e`~ F~" ^iffz‚w" Vdyw Gjphl jw jb l nivvi~ p`wjvj`b v`plzw jvw gy~~ibv hjlnjhjvjiw lw g`kpl~if v` F~" ^iffz‚w" Vdyw vdi wd`~v vi~k g~ifjv`~w je ajuib l gd`jgiq`yhf p~iei~ Gjphl `ui~ F~" ^iffz‚w" Nyv jbuiwv`~w q`yhf p~iei~ jbuiwvjba jb F~" ^iffz‚w ~lvdi~ vdlb

Gjphl e`~ nivvi~ p~`ejvw wjbgi jv jw ywjba k`~i `e g~ifjv luljhlnhi e~`k vdi kl~miv lv l h`q ~lvi"

8/4/2019 Cipla_vs_Dr_Reddy_Report

http://slidepdf.com/reader/full/ciplavsdrreddyreport 10/10

Hj|yjf ^lvj`3 Jv ajuiw vdi hj|yjfjvz p`wjvj`b `e vdi g`kplbz" Jv jw |yjvi wlki lw Gy~~ibv ~lvj`( itgipvvdlv jbuibv`~jiw l~i b`v jbghyfif jb vdi gy~~ibv lwwivw wjbgi vdlv l~i b`v ilwjhz hj|yiejlnhi" Vdijbfywv~jlh lui~lai Hj|yjf ~lvj` jw ?"17" F~" ^iffz‚w hj|yjf ~lvj` jw ?"1<4( qdjgd jw |yjvi bil~ v` vdijbfywv~jlh lui~lai" E`~ Gjphl d`qiui~ jv jw l~`ybf <"71 laljb ~iehigvjba jvw g`bwi~ulvjui blvy~i"

Jbuibv`~z vy~b`ui~ ~lvj` $JV^*3 Jbuibv`~z vy~b`ui~ ~lvj` e`~ F~" ^iffz jw nivvi~ vdlb Gjphl jbfjglvjbavdlv jv nivvi~ klblaiw jvw jbuibv`~z vdyw kjbjkjwjba vdi g`wv" Vdyw F~" ^iffz jw vy~bjba `ui~ jvwjbuibv`~z g`bvibvw k`~i e~i|yibvhz vdlb Gjphl lbf lhw` jvw jbuibv`~z d`hfjba pi~j`f jw h`qi~"

Finvw vy~b`ui~ ~lvj` $FV^*3 Finvw vy~b`ui~ ~lvj` `e F~" ^iffz jw djadi~ vdlb vdlv `e Gjphl jbfjglvjbavdlv F~" ^iffz wihhw l wklhhi~ p~`p`~vj`b `e jvw p~`fygvw `b g~ifjv vdlb Gjphl" Jv laljb jkphjiw vdlv F~"^iffz jw nivvi~ vdlb Gjphl e~`k jbuiwv`~‚w pi~wpigvjui wjbgi jv ajuiw lqlz hiww finvw lbf vdi g~ifjvpi~j`f jw hiww" Vdyw vdi finv`~w plz vdij~ finvw |yjgmi~ vdlb jb glwi `e Gjphl"

W`huibgz ̂ lvj`w3

Finv/Glpjvlh Ikph`zif ~lvj`3 Vdjw ~lvj` jw h`q e`~ n`vd vdi g`kplbjiw( d`qiui~ jv jw h`qi~ wvjhh e`~

Gjphl j"i" cywv ln`yv "???4"Vdyw n`vd vdi g`kplbjiw ikph`z biahjajnhi finvw" Gjphl d`qiui~ glb niwiib lw k`~i g`bwi~ulvjui lw g`kpl~if v` F~" ^iffz lbf vdi qd`hi pdl~klgiyvjglh jbfywv~z"

Jbvi~iwv g`ui~lai ~lvj`3 Jv jw vdi ~lvj` nivqiib _NJV lbf Jbvi~iwv v` ni pljf v` vdi g~ifjv`~w" N`vdvdi g`kplbjiw dlui l djad Jbvi~iwv g`ui~lai ~lvj` qdjgd jw l g`ke`~v v` vdi g~ifjv`~w" Jv jw djadi~ e`~F~" ^iffz" L p`jbv v` ni `nwi~uif jw vdlv vdi jbvi~iwv g`ui~lai ~lvj` e`~ Gjphl dlw wyffibhz ghjknife~`k <4">9 jb >??: v` 61"6 jb >?<?" Wlki jw vdi glwi qjvd F~" ^iffz" Vdjw jw niglywi vdij~ p~`ejvwdlui ~jwib lbf w`ki finvw dlui niib ~ipljf"

I_W ~lvj`3 Il~bjba pi~ wdl~i ~lvj` jw k`wv jkp`~vlbv ~lvj` e~`k p`jbv `e ujiq `e jbuiwv`~" I_W e`~Gjphl jw <7"61 lbf e`~ F~ ^iffz‚w jw 9?"<>" D`qiui~ jv klz ni lvv~jnyvif v` vdi elgv vdlv F~ ^iffz‚wdlw `bhz <544"9 hlg wdl~i jb kl~miv qdjhi Gjphl dlw 4?>:">< hlgw"

G`bghywj`b

E~`k lb jbuiwv`~!w p`jbv `e ujiq F~" ^iffz‚w q`yhf ni l nivvi~ jbuiwvkibv" Vdi djad I_W wypp`~ve`~ vdi wlki"E~`k l g~ifjv`~‚w p`jbv `e ujiq Gjphl q`yhf ni l nivvi~ g`kplbz wjbgi jv jw k`~i g`bwi~ulvjui" Vdidjad hj|yjfjvz ~lvj`w lhw` wypp`~v vdi wlki"