ABBOTINDIA

** 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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Feb 5 (Reuters) - Abbott India Ltd ABOT.NS:

• Q3 PROFIT 3.61 BILLION RUPEES

• Q3 REVENUE FROM OPERATIONS 16.14 BILLION RUPEES

Source text: ID:nBSE8Xz62X

Further company coverage: ABOT.NS

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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

Further company coverage: ABOT.NS

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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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BENGALURU, May 9 (Reuters) - Indian drugmaker Abbott India ABOT.NS reported a 24% rise in fourth-quarter profit on Thursday, as strong sales outpaced the impact of government pricing caps on certain medicines.

The company, which makes the popular antacid medicine Digene, said its profit rose to 2.87 billion rupees ($34.3 million) for the three months ended March 31, from 2.31 billion rupees a year earlier.

Revenues of drugmakers such as Abbott India and GlaxoSmithKline Pharma India GLAX.NS, which get most of their business from India, have been impacted after the inclusion of some of their drugs in the government's essential medicines list in September 2022, making them susceptible to price caps.

Abbott, which is a unit of U.S. healthcare firm Abbott Laboratories ABT.N, has been trying to mitigate the impact of pricing curbs by driving up sales and cutting back on expenses.

The company, which makes drugs including hypothyroidism treatment tablets Thyronorm, said its revenue from operations rose 7% to 14.39 billion rupees in the fourth quarter.

The company declared a dividend of 410 rupees per share for fiscal year 2024.

($1 = 83.4760 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru; Editing by Mrigank Dhaniwala)

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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

Further company coverage: ABOT.NS

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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

Further company coverage: ABOT.NS

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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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By Rishika Sadam

HYDERABAD, India, Sept 14 (Reuters) - India's Goa state has warned the local unit of Abbott Laboratories ABT.N it plans to suspend the manufacturing license of its popular antacid medicine after inspectors flagged contamination risks and sanitization issues at its factory, government documents show.

The U.S. based drugmaker is locked in a tussle with drug regulators in the tourist state of Goa in western India after the company, starting August, voluntarily recalled many batches of its Digene Gel syrup produced there after it received customer complaints on taste and odor.

Abbott says there is no impact on patient health.

The Goa plant is one of Abbott's two factories in India, where Digene has a 7% share in the market for so-called antiflatulent medicines, according to Pharmarack, which estimated annual Digene syrup sales at $11 million, with 8 million units sold.

Following the recall, inspectors conducted four inspections at Abbott's Goa factory between Aug. 24 and Sept. 2 and flagged issues such as water stagnation in tanks and pipes, saying: "This may lead to the contamination and microbial growth," confidential inspection reports reviewed by Reuters showed.

Following that, the state director of the Goa Food and Drugs department, Jyoti J. Sardesai, wrote a warning notice to Abbott on Sept. 11, saying: "I intend to cancel the product permission for all variants of Digene Gel/suspend the licenses held by you for a period deemed fit."

The state authorities have given Abbott seven days to respond to the notice to defend its position. Abbott India ABOT.NS did not immediately respond to a request for comment.

"Whatever protocol has been laid down for the state government to follow when it comes to handling such issues, that has been followed," Goa Health Minister Vishwajit Rane told Reuters about the Abbott incident.

(Reporting by Rishika Sadam; Editing by Aditya Kalra and David Holmes)

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BENGALURU, Aug 9 (Reuters) - Abbott India ABOT.NS, the Indian arm of U.S. healthcare firm Abbott Laboratories ABT.N, reported a 41% rise in its first-quarter profit on Wednesday, driven by strong sales in its mainstay pharmaceuticals segment.

The company, which makes pain-reliever ibuprofen under the brand name Brufen, said its profit rose to 2.90 billion rupees ($35.02 million), compared with 2.06 billion rupees a year earlier.

Revenue from operations rose 13.4% to 14.79 billion rupees for the quarter.

For further earnings highlights, click here.

KEY CONTEXT

Abbott India, for which the pharmaceutical segment is the sole revenue generator, develops and distributes over 600 products in India, including vitamins, anti-allergic drugs and consumer care.

The company has reported a double-digit growth in its revenue for the past three quarters, led by falling operating expenses and steady sales.

Last month, peer GlaxoSmithKline Pharmaceuticals GLAX.NS posted an 11% rise in its first-quarter profit, helped by a steady vaccines business.

PEER COMPARISON

* Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

APRIL TO JUNE STOCK PERFORMANCE

-- All data from Refinitiv

-- $1 = 82.8150 Indian rupees

(Reporting by Kashish Tandon and Biplob Kumar Das in Bengaluru; Editing by Janane Venkatraman)

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** Shares of Abbott India Ltd ABOT.NS rise as much 3.06% to 21,538.55 rupees, their biggest intraday pct gain in five months

** Stock gains as the drugmaker reported a 9.5% jump in its fourth-quarter profit after market hours on Friday nL4N37F1OS

** Profit up at 2.31 bln rupees ($28.25 mln) in March quarter from 2.11 bln rupees Y/Y

** Revenue rises 11.68% in fourth quarter

** Trading volume is 12,800 shares, 0.9x the 30-day avg - Refinitiv data

** Of nine analysts tracking Abbott, five maintain "buy", two suggest "sell" and two recommend "hold"; median TP is 22,510 rupees

($1 = 81.7800 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru)

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

• MARCH-QUARTER PROFIT 2.31 BILLION RUPEES VERSUS 2.11 BILLION RUPEES

• MARCH-QUARTER REVENUE FROM OPERATIONS 13.43 BILLION RUPEES VERSUS 12.55 BILLION RUPEES

• FINAL DIVIDEND 180 RUPEES PER SHARE

• SPECIAL DIVIDEND 145 RUPEES PER SHARE

Source text for Eikon: ID:nBSE2gk3zX

Further company coverage: ABOT.NS

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BENGALURU, May 15 (Reuters) - Pfizer Ltd PFIZ.NS, the Indian unit of U.S. pharmaceutical group Pfizer Inc PFE.N, on Monday reported a 3.1% rise in fourth-quarter profit, helped by lower raw material expenses.

Net profit for the quarter ended March 31 rose to 1.30 billion rupees ($15.90 million) from 1.26 billion rupees a year ago, while revenue rose 4.2%.

Pfizer also declared a final dividend of 35 rupees per share and a special dividend of 5 rupees per share.

For further earnings highlights, click: nFWN37C0WS

WHY IT MATTERS

Pfizer's pharmaceutical segment has a portfolio of over 150 products. Separately, parent Pfizer Inc reported higher-than-expected first-quarter revenue and profit, helped by demand for its COVID-19 products.

In India, rival Cipla Ltd CIPL.NS posted a 45.2% increase in fourth-quarter profit, while Novartis India Ltd NOIN.NS reported a quarterly profit compared with a loss a year ago.

Abbott India Ltd ABOT.NS and GlaxoSmithKline Pharmaceuticals Ltd GLAX.NS are scheduled to report its quarterly results later this week.

COMPETITOR COMPARISON

* The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

JAN-MARCH STOCK PERFORMANCE

-- All data from Refinitiv

-- $1 = 81.7800 Indian rupees

(Reporting by Rama Venkat in Bengaluru; Editing by Varun H K)

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