Pfizer reported an 8.8% increase in net profit to Rs 142.95 crore in Q2 FY22 from Rs 131.37 crore posted in Q2 FY21.
Revenue from operations rose by 6.8% to Rs 636.26 crore in Q2 FY22 over Q2 FY21. Profit before tax stood at Rs 174.96 crore in Q2 FY22, reporting a decline of 4.4% year on year.During the quarter the company entered into a business transfer agreement (BTA) with Mylan Pharmaceuticals to transfer certain primarily off-patented and generic established medicines business (Upjohn Business) as a going concern for a consideration of Rs 180.48 crore. Pfizer said that completion of transaction is subject to fulfillment of certain conditions as set out in the BTA. The Upjohn Business comprises of six brands which includes Lyrica, Viagra, Celebrex, Amlogard, Daxid and Dilantin. Revenue for Upjohn business for quarter is Rs 21.1 crore.
Shares of Pfizer were trading 0.36% lower at Rs 5,010 on BSE in Muhurat trading session today. The muhurat trading session is held every year on the occasion of Diwali, for an hour. The bourses will remain shut on Friday, 5 November 2021, on account of Diwali Balipratipada.
Pfizer is a research-based global biopharmaceutical company which is engaged in the discovery, development and manufacture of healthcare products.
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