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Abbott India Ltd.

BSE: 500488 Sector: Health care
NSE: ABBOTINDIA ISIN Code: INE358A01014
BSE 00:00 | 19 Jul 7275.20 95.65
(1.33%)
OPEN

7259.40

HIGH

7309.00

LOW

7076.00

NSE 00:00 | 19 Jul 7266.20 56.90
(0.79%)
OPEN

7209.30

HIGH

7316.00

LOW

7100.00

OPEN 7259.40
PREVIOUS CLOSE 7179.55
VOLUME 483
52-Week high 7828.00
52-Week low 4035.00
P/E 38.52
Mkt Cap.(Rs cr) 15,460
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 7259.40
CLOSE 7179.55
VOLUME 483
52-Week high 7828.00
52-Week low 4035.00
P/E 38.52
Mkt Cap.(Rs cr) 15,460
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Abbott India Ltd. (ABBOTINDIA) - Company History

Abbott India Ltd is one of the largest MNC pharma companies operating in India. It is a subsidiary of Abbott Laboratories of USA. Abbott Laboratories held 75% stake in Abbott India as on 31 March 2018. The company is engaged in the discovery development manufacture and marketing of pharmaceutical diagnostic nutritional and hospital products. They are having their presence in both OTC drugs and formulations. Their manufacturing facilities are located at Verna in Goa. The company's global products include Brufen Prothiaden Thyronorm and Leptos.The company has four divisions. The Primary Care division markets products in the areas of pain management and gastroenterology. The Specialty Care-Methabolics and Urology division provides solutions in the areas of thyroid obesity diabetes and benign prostatic hyperplasia. The Specialty Care-Neuroscience division has a varied portfolio with specialty products in neurology and psychiatric segments. Hospital Care offers products in the field of anesthesiology and neonatology such as Forane Sevorane and Survanta.Abbott India Ltd was originally incorporated on August 22 1944 as Boots Pure Drug Company (India) Ltd. The company name was changed to The Boots Company (India) Ltd on November 1 1971 thereafter to Boots Pharmaceuticals Ltd on January 1 1991. In October 31 1995 the name was changed to Knoll Pharmaceuticals Ltd and in July 1 2002 they got their present name Abbott India Ltd.In the year 2002 the company sold their Jejuri Undertakings together with assets and liabilities as a going concern. In the year 2003 the company's wholly owned subsidiary company Lenbrook Pharmaceuticals Ltd was amalgamated with the company.In the year 2004 the company started the production of Capsules with the capacity of 27 Millions Nos. In the year 2005 they further increased the capacity to 56 Million Nos. Also they started a new project of producing Nutritional Products with the installed capacity of 600 Tonnes. In the year 2006 the company increased the production capacity of Tablets by 236 Million Nos to 686 Million Nos. In the year 2008 they further increased the production capacity of Tablets by 769 million Nos to 1455 million Nos. They launched Digene Total buffered pantoprazole tablet for quick and sustained antacid action and Brugel a novel formulation for sprains and strains. Also they launched Thyronorm 150 Digene Sugar Free Tablet and Gel during the year.The Buy-Back Committee of the Board of Directors of Abbott India at its meeting held on 9 July 2008 approved buy-back of 7.97 lakh fully paid-up equity shares of the company via the tender offer method at a price of Rs 630 per share. The Board of Directors of Abbott India Ltd. and Solvay Pharma India Ltd. at their respective meetings held on 24 November 2010 unanimously approved the draft scheme for the amalgamation of Solvay Pharma India into Abbott India under sections 391 to 394 of the Companies Act 1956. The swap ratio for the merger recommended is 2:3. In other words every two shares of the Solvay Pharma India Ltd. will entitle their holder to three shares of Abbott India Ltd. On 17 May 2011 Abbott Capital India Limited sold 2.24 lakh shares out of its total holding of 94.28 lakh shares in Abbott India Limited by way of an on market transaction. As a consequence the promoter shareholding in Abbott India Limited after the merger of Solvay Pharma India Limited into Abbott India Limited will be 74.98%. Therefore the listing of shares issued pursuant to the share exchange ratio in the merger will not result in the public shareholding in Abbott India Limited falling below 25% as required under Clause 40A of the Listing Agreement. On 7 September 2011 Abbott India completed the allotment of 75.74 lakh equity shares to the shareholders of Solvay Pharma India Ltd in the ratio of 2:3 in terms of the Scheme of Amalgamation of Solvay Pharma India Ltd with Abbott India. The Board of Directors of Abbott India at its meeting held on 3 June 2013 decided to defer the proposal received by the company for the sale and transfer of or other appropriate restructuring of the proprietary pharmaceuticals division (PPD) of the company. Abbott Laboratories the ultimate parent corporation of Abbott India has separated into two publicly traded companies - one in diversified medical products and the other in research-based pharmaceuticals. The parent company for the research-based pharmaceutical companies is AbbVie Inc. a Delaware corporation. For the year ended 31 December 2012 the PPD business accounted 4.73% of net sales of Abbott India.