Novartis India has registered lower net profit of Rs.14.04 crore for the second quarter ended September 2014 as against Rs.45.55 crore in the corresponding period of last year. Its net sales improved by 8.9 per cent to Rs.227.83 crore from Rs.209.18 crore. With lower net profit, its EPS declined to Rs.4.39 from Rs.14.25 in the last period.
Its pharmaceuticals sales improved by 13.1 per cent to Rs.155.24 crore from Rs.137.21 crore and tht of OTC improved by 25.9 per cent to Rs.42.21 crore from Rs.33.53 crore. However, its net sales of generics declined slightly to Rs.13.50 crore from Rs.14.09 crore. Further, sales of Animal Healthcare also declined to Rs.23.84 crore from Rs.29.09 crore
As a part of its global portfolio transformation, Novartis AG, Basel, Switzerland agreed on 22 April 2014 to divest its global Animal health Business to Eli Lilly and Co. Closing of this global transaction is subject to receipt of all applicable anti-trust and regulatory approvals, as well as the satisfaction or waiver (as applicable) of various other conditions. Today, Board of directors of Novartis India has approved the disposal of its animal health division for a consideration of Rs.86.68 crore to Elanco India Pvt Ltd (or another affiliate of Lilly) before July 22, 2015.
Its pharmaceuticals sales improved by 13.1 per cent to Rs.155.24 crore from Rs.137.21 crore and tht of OTC improved by 25.9 per cent to Rs.42.21 crore from Rs.33.53 crore. However, its net sales of generics declined slightly to Rs.13.50 crore from Rs.14.09 crore. Further, sales of Animal Healthcare also declined to Rs.23.84 crore from Rs.29.09 crore
As a part of its global portfolio transformation, Novartis AG, Basel, Switzerland agreed on 22 April 2014 to divest its global Animal health Business to Eli Lilly and Co. Closing of this global transaction is subject to receipt of all applicable anti-trust and regulatory approvals, as well as the satisfaction or waiver (as applicable) of various other conditions. Today, Board of directors of Novartis India has approved the disposal of its animal health division for a consideration of Rs.86.68 crore to Elanco India Pvt Ltd (or another affiliate of Lilly) before July 22, 2015.
No comments:
Post a Comment