Cipla eyes acquisitions in India, US after Covid-led windfall

With a funding frenzy currently underway in India, Cipla may struggle to find attractive targets

 Cipla Ltd., one of India’s largest drugmakers, has built up a war chest and is on the prowl for deals that can boost growth beyond the Covid-19 windfall it garnered this year.

With its extensive arsenal of Covid treatments, the Mumbai-based firm’s cash and cash equivalents swelled 33% to Rs 4,900 crore ($660 million) from March to June as a delta-fueled tsunami ripped across India. Cipla is on the lookout for targets in India and the U.S., its two largest markets, and may partner with smaller firms working on mRNA platforms after the technology came to the fore during the pandemic.

“We