DELIVERING LONG TERM SUSTAINABLE VALUE
"To drive better growth we will continue to incorporate the learnings from ourdynamic operating environment and deep industry knowledge of today into tomorrow'sbusiness models."
The start of the new decade has been eventful for everyone.
At Abbott India our purpose leads us and we believe that through better healthoutcomes we will be able to build and sustain a healthier enriching world. I am happy toinform you that despite volatility and uncertainty your Company once again delivered astrong performance in FY 2019-20. Through our innovation and agility we continued tocreate and deliver long-term sustainable value across the healthcare ecosystem.
Over the last several years we have continued to adapt to the changing environment.One of our critical success factors has been our agility in adapting to digitaltransformation that is the norm. Last year we created several first-in-pharma' intherapies such as vertigo liver thyroid influenza and others. We have taken a lead inimbibing an innovative culture. We have partnered with health-tech start-ups thatendeavour to solve problems in the healthcare space and developed a service plus openecosystem a necessity in today's healthcare system. Also keeping in mind the increasinghealthcare needs of our consumers we have augmented our portfolio and successfullylaunched 21 new products.
During this challenging time healthcare companies are relentlessly working alongsidethe government to ensure continued manufacturing of medicines with increased efforts onfocused research and development to bring appropriate medical solutions. Your Company isno exception to that and we have taken extraordinary efforts to remain committed to ourcustomers by ensuring uninterrupted supply of products while keeping the health and safetyof our employees a priority. Resilience and adaptability shown by our people during thesecritical times has been and continues to be commendable.
I am proud to say that many of our products patient support programs anddifferentiated marketing and digital initiatives have received external recognitions. YourCompany was also recognized as the Most Innovative MNC of the Year 2019 at the 12thPharma Leaders Award.
Keeping in mind our 75th year in India and the remarkable performance by theCompany your
Board has recommended a final dividend initiatives Rs. 107 and special dividend of Rs.143 per equity share.
Abbott India stands for quality trust and partnership. We know how to deliverhigh-quality healthcare and our heritage is proof that we remain committed for thelong-term. As part of our social initiatives we have enabled access to essentialhealthcare services and information with support from qualified healthcare professionalsthat enhance disease diagnosis.
The Indian pharmaceutical sector which stands at the cusp of innovation andtransformation will be led by the changing healthcare trends. To drive better growth wewill continue to incorporate the learnings from our dynamic operating environment and deepindustry knowledge of today into tomorrow's business models. During the year we laid outour plans to reprioritize resources within key growth areas streamline operations andredefine our brand strategy.
We are paving the way for greater collaboration amongst our employees and are alwaysopen to new ideas to facilitate possible breakthroughs.
As the COVID-19 situation evolves we will continue to navigate and provide allnecessary support to ensure that products are available for the well-being of ourcommunity.
We have had a few changes in our Board this year. Krishna Mohan Sahni retired from theBoard at the end of his tenure. Jawed Zia and Mark Murphy also resigned from the Board. Wethank them for their valuable contributions. Shalini Kamath was appointed as anIndependent Director and we welcome her on the Board.
I would like to recognize Ambati
Venu's contributions as Managing Director and congratulate him on his elevation to asenior management position within the Abbott Group effective March 2020. Your Companyachieved several milestones under his leadership and are privileged that we will continueto receive his guidance as Non-Executive Director on our Board. I welcome Anil Joseph asManaging Director effective July 1 2020. Anil has had several years of managementexperience with Abbott based in Singapore.
On behalf of all Board members I would like to extend my sincerest gratitude to ouremployees for their perseverance and commitment our shareholders for their continuedtrust in our endeavors and our consumers for their confidence in our products.