Companies & Sectors
Dr Reddy's to buy select products of UCB for Rs800 crore

The Hyderabad-based firm said it entered into a definitive agreement to acquire a select portfolio of the established products in India, Nepal, Sri Lanka and the Maldives

 

Pharma major Dr Reddy's Laboratories on Wednesday announced it will acquire a select portfolio of the established products business of Belgian drugmaker UCB for Rs800 crore.
 
The Hyderabad-based firm said it entered into a definitive agreement to acquire a select portfolio of the established products in India, Nepal, Sri Lanka and the Maldives.
 
The transaction is expected to be closed in the first quarter of the financial year 2015-16.
 
The transaction includes approximately 350 employees engaged in operations of the India business. The revenues of the acquired business is approximately Rs150 crore for calendar year 2014.
 
The acquisition will help Dr Reddy's to expand its footprint in the areas of dermatology, respiratory and pediatrics diseases.
 
"The acquired UCB portfolio shall accelerate Dr Reddy's presence in the high growth areas of dermatology, respiratory and pediatrics with market leading brands like Atarax, Nootropil, Zyrtec, Xyzal, Xyzal M etc," said Alok Sonig, senior vice president and India business head, Dr Reddy's.
 
"UCB is in a strong position with a solid platform for continuous growth thanks to our core products and our promising pipeline. This position allows us to enhance our focus on our key neurology portfolio in India, providing innovative solutions to patients living with severe diseases," said Mark McDade, UCB's chief operating officer.
 

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Hero MotoCorp's 2014-15 sales up 6.2%

According to the company, in fiscal 2014-15 the industry continued to remain sluggish due to the overall market sentiments and the slowing rural economy

 

Two-wheeler major Hero MotoCorp Wednesday reported an increase of 6.2% in its sales for 2014-15, which stood at 6,631,826 units from 6,245,960 units sold in the previous fiscal.
 
“FY’15 was a year of milestones at Hero MotoCorp - in terms of our sales performance, expansion of our global footprint, product innovation and customer engagement. Our record sales performance during the fiscal is reflective of all these efforts," Pawan Munjal, vice chairman, managing director and chief executive officer, Hero MotoCorp.
 
According to the company, in fiscal 2014-15 the industry continued to remain sluggish due to the overall market sentiments and the slowing rural economy. 
 
"Even in such a challenging market environment, we managed to buck the trend and registered healthy growth, further consolidating our leadership. The journey from here promises to get better and exciting," Munjal added.
 
For the month of March, the company's total sales rose by 1.47% at 531,750 units from 524,028 units sold in the corresponding month of 2014.
 
The company's scrip at the Bombay Stock Exchange (BSE) closed the day's trade up 0.49 percent at Rs.2,655.60 per equity share from Rs.2,642.60 per equity share.
 

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Maruti's 2014-15 sales up 11.9 percent
Automobile manufacturer Maruti Suzuki Wednesday reported an increase of 11.9 percent in its total sales for 2014-15, which stood at 1,292,415 units from 1,155,041 units sold in the previous fiscal.
 
According to the company, domestic sales during the year ended March 31, 2015, grew at 11.1 percent at 1,170,702 units from 1,053,689 units in 2013-14.
 
Exports during the period under review zoomed by 20.1 percent at 121,713 units from 101,352 units shipped out in 2013-14.
 
However, for the month of March, the company's total sales decreased by 1.6 percent at 111,555 units from 113,350 units sold in the corresponding month of 2014.
 
Domestic sales in the month under review marginally increased by 1.4 percent at 103,719 units from an off-take of 102,269 units reported in March 2014.
 
Exports during last month plunged by 29.3 percent at 7,836 units from 11,081 units shipped out during corresponding month of last year.
 
Sales in passenger cars segment, which comprises of brands like Alto, WagonR, Swift, Ritz, Dzire, Celerio, Dzire Tour and Ciaz, were lower by 0.3 percent at 85,733 units from an off-take of 86,018 in the corresponding month of 2014.
 
The off-take of utility vehicles like Gypsy, Grand Vitara and Ertiga lower by 4.3 percent at 6,218 units from sales of 6,499 units in March 2014.
 
However, sales in van segment that includes brands like Omni and Eeco, gained 20.7 percent at 11,768 units from an off-take of 9,752 units in the corresponding month of 2014.
 
The company's scrip at the Bombay Stock Exchange (BSE) was down 1.39 percent around 1.30 p.m. at Rs.3,648 per equity share from Rs.3,699.25 per equity share.

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