A CHEMISTRY THAT WORKS: GLAXO

Article Abstract:

Glaxo had posted a 7.9 percent growth in sales in 1997. Antibiotics contributed 27 percent and vitamins/tonics accounted for 18 percent of its sales. Its net profit for the year declined due to the Rs144 million expenditure incurred on voluntary retirement scheme. Glaxo has taken over the marketing and distribution activities of Burroughs Wellcome India Ltd (BWIL). BWIL, which will be merged with Glaxo in future, posted sales of Rs1.88 billion and net profit of Rs180 million in 1997. It has cut down workforce and is shifting its formulations facility from Mumbai to Nashik and Ankleshwar. It is not likely to take up any major capex programme. Glaxo and BWIL together hold 7 percent share of the Indian pharma market. Glaxo has recently acquired Biddle Sawyer for Rs700 million. (rk) --------------------------------------------------------- Financial Performance of Glaxo (Rs in million) --------------------------------------------------------- Particulars 1999 1998 1997 (projected) --------------------------------------------------------- Sales 8,831.00 7,799.00 6,960.00 --------------------------------------------------------- Net profit 710.00 620.00 412.00 --------------------------------------------------------- EPS (Rs) 11.90 10.40 6.90 ---------------------------------------------------------

Comment:

Posts 7.9% growth in sales in 1997

Sales, profits & dividends, Glaxo India Ltd.

---

GOVT TURNS DOWN DEMAND TO INCREASE RANITIDINE PRICE

Article Abstract:

The government has dismissed the demand of ranitidine producers to increase its price and has said that the price of bulk drug ranitidine will remain at Rs1203 per kg. Pharmaceutical companies like Glaxo, Ranbaxy and Cheminor had demanded that the price be revised as the bulk drug was not available at that price and that their costs had not been accounted for while fixing the price. The government says that the prices of ranitidine ranged between Rs825 and Rs1150 per kg when the notified price was Rs1714 per kg between December 1996 and June 1997. (khr)

Comment:

India: Government dismisses demand of ranitidine makers to up price and says will remain at Rs1203 per kg

Commodity & service prices

---

BULK DRUG SCENARIO

Article Abstract:

Andhra Pradesh's exports have grown from Rs200 crore in 1992-93 to Rs550 crore in 1997-98. Of the 600 bulk drug units in the country 250 are located in Andhra Pradesh. (um)(psr)

Exports, Medicinals and botanicals

Similar abstracts:

• Abstracts: A CHEMISTRY THAT WORKS: CIPLA CIPLA MAY SCRAP CHINA VENTURE
• Abstracts: A CHEMISTRY THAT WORKS: DR REDDY's LABS PARKE-DAVIS NET AT Rs1.8 CR
• Abstracts: INDIA POISED TO BECOME WORLD'S BIGGEST MILK PRODUCER PACKET MILK SHOWS BACTERIAL CONTENT. HLL PUTS DAIRY, ANIMALS FEEDS BUSINESSES ON THE SALE BLOCK

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.