Cipla Surges 4.5%; Company to Sharpen Focus on Emerging Markets

Mumbai: Cipla Ltd, India's fourth-largest drugmaker by sales, is planning to enter Latin America and Eastern Europe to tap into growing demand for generic drugs in emerging markets, Chief Executive Subhanu Saxena said. More than a decade after it made headlines globally for offering to make AIDS drugs for under $1 a day, Cipla gets nearly half of its sales from India, unlike most of its domestic rivals for whom the U.S. market makes...