Cipla First Quarter Profit Lags Estimates; Names New CEO

Mumbai: Cipla Ltd, India's fifth-largest drugmaker by sales, reported a lower-than-expected quarterly profit as revenues in its home market were hit by government measures to cut drug prices. The company said it had appointed Chief Operating Officer Umang Vohra as its new chief executive officer and managing director, effective Sept. 1, replacing Subhanu Saxena, who resigned to "attend to emergent family priorities." Cipla's April-...