DEMONSTRATING THE INVINCIBLE ABBOTT SPIRIT
"At Abbott we believe that health is critical to enriching the world around us.We remain steadfast in our commitment to delivering sustainable healthcare solutions thattakes care of people and the planet. We pivoted our engagement models leveraged ourdigital capabilities and kept pushing the boundaries of innovation."
The COVID-19 pandemic continues to pose significant challenges straining healthcareinfrastructure and leaving behind significant adverse economic and social impact. At thesame time we are witnessing the indomitable spirit of the medical fraternity and otherfrontline workers in the face of unprecedented adversity. The pandemic has taken a heavytoll on human life and our heart goes out to those families who lost their near and dearones.
We firmly believe that crisis breeds new opportunities to redefine the conventionaltemplate and set in motion ideas and innovation for building a better future. We areconfident that with a concerted vaccination drive and other nonpharmaceuticalinterventions such as masking and social distancing the nation will overcome this crisissoon.
Despite an extremely challenging operating environment Abbott India continued itsgrowth trajectory outperforming the market and the industry. Our Revenue from Operationsgrew by 5.3% and Profit Before Tax by 15.4%. This robust performance not only demonstratesthe resilience of our business model but also our ability to quickly adapt to the rapidlyevolving realities.
The Board recommended a dividend of '275 per share including '155 special dividend forFY 2020-21.
Since the onset of the pandemic we have been working closely with our people andpartners to support communities with resources and technologies to tide over the crisis.We managed to ensure business continuity with virtually no disruption in manufacturing andsupply chain. We did all this while protecting the health of our employees and rigorouslyfollowing the safety guidelines.
ENSURING BUSINESS EXCELLENCE
At Abbott we believe that health is critical to enriching the world around us. Weremain steadfast in our commitment to delivering sustainable healthcare solutions thattakes care of people and the planet. We pivoted our engagement models leveraged ourdigital capabilities and kept pushing the boundaries of innovation. As a result wewitnessed the endurance of our people by a series of innovative product launches and newinitiatives. These redefined ways of working helped further strengthen our key brands andmaintained our leadership in the Indian Pharmaceutical Market (IPM). We launched 15 newproducts and line extensions in FY 2020-21 and will focus on ensuring their success.
We also continued to focus on capability building of our field force. We paved the wayfor greater collaboration amongst our employees and encouraged them to think out of thebox.
We improvised on ways of engagement with our customers specifically the healthcareprofessionals. Flagship scientific models were created including the digital masterclass.Strategic tie-ups and partnerships with various societies associations and thoughtleaders enabled us to deepen our academic engagements. Overall we have conducted over3500 medical education programs with doctors. Our marketing teams conducted severalawareness initiatives on digital platforms especially for Vitamin D and influenza asthese two therapies have been talked about a lot in recent times.
One of our key takeaways from the year is that for businesses around the world purposeshould take precedence over profitability. Our unwavering focus on integrity and cultureof compliance have helped us to thrive in a difficult environment.
We uphold the highest ethical standards in our business conduct and live by our valueswhile operating with honesty and fairness.
EMPATHY AND COMMITMENT
As part of our social initiatives we established health clinics for varioustherapeutic areas which enabled access to essential health services and credibleinformation with the help of qualified doctors. Through Self-Employed Women's Association(SEWA) we continue to create new models to improve access of quality healthcare to thelow-income population. We also remain committed to engage in activities that complementgovernment's COVID relief efforts.
It is also a matter of pride that we won several awards and recognitions during theyear.
In India Abbott was recognized by Business Today as one of - Top 25 "CoolestPlaces to Work" and was included in the list of "2020 Working Mother and BestCompanies for Women in India" by Avtar a pioneering Diversity & InclusionConsulting firm.
Healthcare access availability and equity in utilisation of healthcare services in thecountry are the pressing needs of the hour. We have put in place the building blocks forthis and we look forward to delivering on our promise.
I extend my sincerest gratitude to our employees and partners for their passion andcommitment and to our shareholders for their continued trust and support.