Abbott India

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BENGALURU, Aug 13 (Reuters) - Diary of India economic, corporate events on August 13

ECONOMIC, CORPORATE .BSE500 EVENTS

NTS - 'No time scheduled'

(Compiled by Bengaluru Newsroom)

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BENGALURU, Aug 12 (Reuters) - Diary of India economic, corporate events on August 12

ECONOMIC, CORPORATE .BSE500 EVENTS

NTS - 'No time scheduled'

(Compiled by Bengaluru Newsroom)

** JP Morgan downgrades Abbott India ABOT.NS to "neutral" from "overweight" and slashes PT to 27,500 rupees from 34,000 rupees

** Brokerage cites growth headwinds for drugmaker due to limited new product launches and phasing out of its largest insulin brand - Mixtard

** Stock largely flat on the day

** Adds, three MD resignations in four years increase uncertainty around strategic direction and growth priorities

** Avg rating of seven analysts on ABOT at "buy"; median PT is 34,030 rupees - data compiled by LSEG

** YTD, stock down 11% vs 2.1% drop in pharma index .NIPHARM

(Reporting by Kashish Tandon in Bengaluru)

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Feb 27 (Reuters) - Abbott India Ltd ABOT.NS:

• PARTNERS WITH NOVO NORDISK INDIA TO LAUNCH EXTENSIOR

Source text: ID:nnAZN4SIQN0

Further company coverage: ABOT.NS

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Feb 12 (Reuters) - Abbott India Ltd ABOT.NS:

• ABBOTT INDIA DEC-QUARTER PROFIT 3.76 BILLION RUPEES

• ABBOTT INDIA DEC-QUARTER REVENUE FROM OPERATIONS 17.24 BILLION RUPEES

Source text: ID:nBSE4DbPdQ

Further company coverage: ABOT.NS

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Dec 31 (Reuters) - Abbott India Ltd ABOT.NS:

• RECEIVES TAX PENALTY OF 24 MILLION RUPEES

Source text: ID:nBSE8zhHnZ

Further company coverage: ABOT.NS

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Nov 24 (Reuters) - Abbott India Ltd ABOT.NS:

• ABBOTT INDIA - CENTRAL GOVERNMENT APPROVES KARTIK RAJENDRAN AS MANAGING DIRECTOR

Source text: ID:nBSE6jC6h2

Further company coverage: ABOT.NS

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Aug 12 (Reuters) - Abbott India Ltd ABOT.NS:

• JUNE-QUARTER PROFIT 3.66 BILLION RUPEES

• JUNE-QUARTER REVENUE FROM OPERATIONS 17.38 BILLION RUPEES

Further company coverage: ABOT.NS

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** Abbott India ABOT.NS jumps 3.5% post Q4 results

** Drugmaker's profit rises 28% y/y in Q4; rev from ops up 11%

** Co's earnings boosted by strong demand for gastrointestinal and anti-infective drugs

** Stock is top gainer in nifty pharma index .NIPHARM, which is down 0.4%

** YTD shares up 2%, set to extend gains for a second straight session

** Broader market nifty 50 index .NSEI down 0.2% on Friday

(Reporting by Yagnoseni Das in Bengaluru)

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BENGALURU, May 15 (Reuters) - Diary of India economic, corporate events on May 15

ECONOMIC, CORPORATE .BSE500 EVENTS:

NTS - 'No time scheduled'

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May 7 (Reuters) - Abbott India Ltd ABOT.NS:

• SWATI DALAL RESIGNS AS MANAGING DIRECTOR

• KARTIK RAJENDRAN APPOINTED AS MANAGING DIRECTOR

Source text: ID:nBSEbGl0Dk

Further company coverage: ABOT.NS

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April 18 (Reuters) - Abbott India Ltd ABOT.NS:

• APPOINTS MAITHILEE MISTRY AS CFO EFFECTIVE MAY 6, 2025

Source text: ID:nBSE2cTpbf

Further company coverage: ABOT.NS

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** Shares of Abbott India Ltd ABOT.NS climb 4.4% to 29,030 rupees

** JP Morgan ("overweight") lifts PT on stock to 34,000 rupees from 31,500 rupees, a Street-high, as per data compiled by LSEG

** Drugmaker's Q3 consol net profit jumped 16% Y/Y on Wednesday, stock jumped ~4%

** ABOT benefitted from its unique strategy of tailoring product launches to fit local markets, says JPM

** Adds, strong demand for Rybelsus, oral version of Novo Nordisk's NOVOb.CO weight-loss drug, boosted sales

** Avg rating of four analysts on ABOT at "strong buy"; median PT is 31,850 rupees - LSEG data

** Stock gained ~30% in 2024

(Reporting by Nandan Mandayam in Bengaluru)

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** Abbott India ABOT.NS jumps 3.5% post Q3 results

** Drugmaker's profit rises 16% y/y in Q3; rev from ops up 12%

** Day's move trims YTD losses to 10%

(Reporting by Hritam Mukherjee in Bengaluru)

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Nov 7 (Reuters) - Abbott India Ltd ABOT.NS:

• SEPT-QUARTER PROFIT 3.59 BILLION RUPEES

• SEPT-QUARTER REVENUE FROM OPERATIONS 16.33 BILLION RUPEES

Source text: ID:nBSE4Y1JGn

Further company coverage: ABOT.NS

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Sept 19 (Reuters) - Abbott India Ltd ABOT.NS:

• SIGNS A NON-EXCLUSIVE PATENT LICENSE AGREEMENT WITH TAKEDA PHARMACEUTICALS CO

• AGREEMENT TO MARKET AND DISTRIBUTE "VONOPRAZAN" IN INDIA

Source text for Eikon: ID:nBSE79bwMK

Further company coverage: ABOT.NS

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** Shares of Abbott India ABOT.NS climb ~4% to 29,139.30 rupees, their highest since February

** Drugmaker reports 13% Y/Y rise in Q1 consol net profit; 5.3% Y/Y rev growth

** Stock top pct gainer in pharma index .NIPHARM, which is up ~1%

** Trading volume 2.4x the 30-day moving average

** ABOT among 10 stocks rated "buy" or higher on 20-member pharma index - LSEG data

** Stock climbs ~28% YTD vs pharma index's ~32% gain

(Reporting by Kashish Tandon in Bengaluru)

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Aug 7 (Reuters) - Abbott India Ltd ABOT.NS:

• Q1 PROFIT 3.28 BILLION RUPEES

• Q1 REVENUE FROM OPERATIONS 15.58 BILLION RUPEES

Source text for Eikon: ID:nBSE54k1fl

Further company coverage: ABOT.NS

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July 29 (Reuters) - Abbott India Ltd ABOT.NS:

• GETS TAX PENALTY ORDER OF 6.5 MILLION RUPEES

Source text for Eikon: ID:nBSE9K98qn

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By VarunVyas Hebbalalu and Kashish Tandon

BENGALURU, July 5 (Reuters) - India's Emcure Pharmaceuticals EMCU.NS drew strong interest for its $234 million initial public offering (IPO) as investors bet on its slate of women's healthcare and HIV treatments to drive growth in a high-margin market.

The Bain Capital-backed company's IPO was fully subscribed on the first day of bidding and over the three-day process, it got bids worth up to 937.11 billion rupees ($11.23 billion), nearly 68 times the amount on offer, exchange data showed.

Bain sold nearly a third of its 13.07% stake in Emcure, with existing investors overall selling shares worth 11.52 billion rupees.

Emcure raised 8 billion rupees by issuing new shares in the IPO, which valued the company at up to 190.60 billion rupees, per Reuters calculations.

Emcure is going public in India's red-hot IPO market where more than 100 companies have raised around $4.6 billion through IPOs so far this year, more than double the same period last year, as per LSEG data.

Analysts are betting on its focus on areas such as gynaecology, where it has a market-leading 14% share, and HIV treatments. The generics market is dominated by firms such as Sun Pharma SUN.NS, Mankind Pharma MNKI.NS, Torrent Pharma TORP.NS and Abbott India ABOT.NS.

Institutional buyers, including foreign investors, banks and mutual funds, bid for 196 times the shares on offer, while retail investors bid for seven times their reserved shares.

Anchor investors, including Goldman Sachs and Abu Dhabi Investment Authority (ADIA), had earlier bought shares worth a total of 5.83 billion rupees.

Emcure's expansion-related spending has hit earnings over the last two years but the ramp-up of facilities will boost sales in the near term, said Sneha Poddar, vice president of research at Motilal Oswal Financial Services.

The stock's price-to-earnings ratio of 36.6 is also attractive compared to the industry average of 40.4, and can help it "pop" in its trading debut, analysts said.

($1 = 83.4690 Indian rupees)

(Reporting by Kashish Tandon and Varun Hebbalalu in Bengaluru; Editing by Savio D'Souza)

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** Shares of Abbott India ABOT.NS up 3.5%, after a 4.8% climb earlier in the session

** Drugmaker reported 24% rise in profit while rev rose 7%

** Brokerage CLSA sees sustained growth for the Digene antacid maker, retains "outperform" rating and 27,780 rupees PT

** ABOT top pct gainer in Nifty Pharma index .NIPHARM, which is up 1.3%

** Trading vols 2.4x 30-day avg

** YTD stock had risen ~16%

(Reporting by Hritam Mukherjee in Bengaluru)

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May 9 (Reuters) - Abbott India Ltd ABOT.NS:

• ABBOTT INDIA MARCH-QUARTER PROFIT 2.87 BILLION RUPEES VERSUS 2.31 BILLION RUPEES

• ABBOTT INDIA MARCH-QUARTER REVENUE FROM OPERATIONS 14.39 BILLION RUPEES VERSUS 13.43 BILLION RUPEES

• DIVIDEND 410 RUPEES PER SHARE

Source text for Eikon: ID:nBSE8PNg3X

Further company coverage: ABOT.NS

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BENGALURU, Feb 12 (Reuters) - GlaxoSmithKline Pharmaceuticals GLAX.NS, the Indian unit of the UK's GSK GSK.L, reported a 3% fall in third-quarter profit on Monday, hurt by the government's pricing cap on certain medicines.

Consolidated profit before exceptional items and tax for the quarter ended Dec. 31 was 2.29 billion rupees ($27.6 million), compared with 2.36 billion rupees a year earlier.

GlaxoSmithKline, which derives most of its revenue from India, continued to grapple with challenges following the inclusion of its key products such as Ceftum antibiotic and T-Bact ointment in the country's National List of Essential Medicines (NLEM) in September 2022, mandating sales below a government-set price ceiling.

It's revenue declined for three straight quarters following the adoption of the list before rebounding on the growth in its vaccine business in the June quarter of last fiscal year.

Revenue from operations rose a meagre 0.4% to 8.05 billion rupees in the latest quarter.

The company, which makes Augmentin antibiotic, incurred a one-time charge of 1.63 billion rupees, related to the cost of a voluntary retirement scheme and other employee dues.

It also had a one-time charge of 113.7 million rupees in the year-ago period, due to restructuring costs.

Last month, parent GSK beat market estimates for its fourth-quarter results and provided an upbeat forecast for 2024 and beyond, citing the expansion of its vaccines and cancer drugs pipeline.

Earlier this month, rival Abbott India ABOT.NS reported a 26% jump in third-quarter profit on elevated sales.

($1 = 82.9720 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru; Editing by Dhanya Ann Thoppil)

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** Shares of Abbott India ABOT.NS up as much as 8.2% to a record high of 28,000 rupees

** Stock posts biggest intraday pct gain since Oct. 2021

** The drugmaker reported a 26% jump in its third-quarter profit; rev from ops rose 8.7%

** Avg rating of six analysts close to equivalent of "buy;" median PT is 26,310 rupees - LSEG

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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Feb 1 (Reuters) - Abbott India Ltd ABOT.NS:

• DEC-QUARTER PROFIT 3.11 BILLION RUPEES VERSUS 2.47 BILLION RUPEES

• DEC-QUARTER REVENUE FROM OPERATIONS 14.37 BILLION RUPEES VERSUS 13.22 BILLION RUPEES

Further company coverage: ABOT.NS

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Jan 4 (Reuters) - Abbott India Ltd ABOT.NS:

• GST TAX AUTHORITIES LEVIED A PENALTY OF 17 MILLION RUPEES

Source text for Eikon: ID:nBSEblVTBr

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Dec 19 (Reuters) - Abbott India Ltd ABOT.NS:

• VIVEK V KAMATH HAS TENDERED HIS RESIGNATION AS MD

Source text for Eikon: ID:nBSE53vQnD

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Nov 9 (Reuters) - Abbott India Ltd ABOT.NS:

• SEPT-QUARTER PROFIT 3.13 BILLION RUPEES VERSUS 2.66 BILLION RUPEES

• SEPT-QUARTER REVENUE FROM OPERATIONS 14.94 BILLION RUPEES VERSUS 13.79 BILLION RUPEES

Source text for Eikon: ID:nBSEc2bHV5

Further company coverage: ABOT.NS

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By Rishika Sadam

HYDERABAD, Sept 22 (Reuters) - Abbott Laboratories' ABT.N Indian unit has warned of potential supply shortages of two popular laxative syrups after production was prohibited in India's Goa state, where drug inspectors have found lapses at a company factory, a letter shows.

Goa, where Abbott has one of its two India plants, asked the company to halt production of Cremaffin and Duphalac syrups last month. The request followed the recall of another Abbott drug which triggered factory inspections by health officials who found contamination risks and sanitisation issues.

The two laxative brands together have estimated annual sales of $70 million in India, healthcare data firm Pharmarack says.

In a letter to Goa's Directorate of Food and Drugs Administration dated Sept. 18, which is not public and has not previously been reported on, Abbott ABOT.NS pushed state regulators to allow it to restart manufacturing the two medicines.

"The two products have a high consumption rate and are highly prescribed," Abbott said in the letter seen by Reuters. "We are likely to face a supply shortage of these two products," it warned.

Cremaffin, Abbott argued, is a "necessity to support hospitalised patients" while Duphalac is prescribed in serious disorders caused by liver failure.

Abbott in India and the Goa FDA spokesperson did not immediately respond to requests for comment.

India is a major market for Abbott. Its currently regulatory challenges in the country began in August with the recall of thousands of bottles of its popular Digene Gel antacid syrup following complaints about its taste and odour.

Abbott has since halted production of Digene but says there is no impact on patient health.

Drug inspectors who visited the Goa facility following the recall flagged issues such as water stagnation in tanks and pipes, saying it could lead to contamination and microbial growth.

They asked the company to fix the problems and the FDA warned it could revoke the manufacturing licence for Digene syrup, Reuters reported earlier this month.

In its latest letter, Abbott told Goa authorities it had taken corrective steps, segregating the manufacturing lines of different drugs and changing its cleaning protocols.

"We are committed to invest and upgrade the manufacturing site," it said, asking that no action on the licence be taken.

(Reporting by Rishika Sadam in Hyderabad; Editing by Aditya Kalra, Kirsten Donovan)

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Sept 14 (Reuters) - Abbott India Ltd ABOT.NS:

• ABBOTT INDIA VOLUNTARILY STOPPED DIGENE SYRUP MANUFACTURING AT GOA SITE RECENTLY, HAS BEEN TAKING "CORRECTIVE ACTIONS" AFTER RECALL -STATEMENT

• ABBOTT INDIA SAYS GOA REGULATOR LETTER ON DIGENE LICENSE SUSPENSION WARNING, RECENT VISITS "PART OF THE REGULATORY PROCESS"

• ABBOTT INDIA SAYS IT IS IN PROCESS OF RESPONDING TO GOA REGULATOR LETTER

Further company coverage: ABOT.NS

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