Cipla Expands Oncology Portfolio via TQB2102 Deal
Cipla Ltd has strengthened its oncology portfolio by entering into a licensing agreement with Chia Tai Tianqing Pharmaceutical (CTTQ), the Chinese arm of Sino Biopharma, for TQB2102, a HER2-targeted antibody-drug conjugate.
Cipla will receive exclusive rights across India, South Africa and five emerging markets, while CTTQ will continue manufacturing and supplying the drug; Cipla will manage clinical development, regulatory approvals and commercialisation in the licensed markets.
TQB2102 is being evaluated across HER2-expressing cancers and has shown encouraging potential in HER2-low advanced breast cancer. The development comes after a weak Q1 performance, with net profit declining 39% YoY to ₹789 crore versus ₹923 crore expected, revenue rising 2% to ₹7,119 crore against ₹7,342 crore estimated, and EBITDA falling 33% to ₹1,192 crore versus ₹1,376 crore expected.
EBITDA margin contracted to 16.7% from 25.6% YoY and the estimated 18.7%, while US sales stood at $162 million against $173 million expected; North America contributed 22% of Q1 topline. The licensing agreement therefore adds a new oncology opportunity, while Cipla’s recent financial performance reflects pressure across key profitability and US sales metrics.