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Cipla Misses Profit Estimates

Indian drugmaker Cipla reported a 35 percent drop in quarterly profit, missing analyst estimates due to a sharp slowdown in its key United States market. Revenue from North America fell 19 percent as generic drug sales moderated, causing company shares to slip.

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Employees and security staff work at the reception area of Cipla at its headquarters in Mumbai, India June 17, 2015. REUTERS/Danish Siddiqui

CIPLA LTD posted a 35% drop in second-quarter profit on Tuesday, missing analyst estimates as weakness in the United States offset domestic growth.