Hoechst Marion Roussel: Net up 43% despite lower sales
Hoechst has reported a 47% growth in net profit despite a reduction in the turnover.
The turnover has reduced due to a sale of two of its brands Haemaccel and Omnatax to Nicholas Piramal last year.
At the AGM held on Monday July 24th, the company's Chairman Mr Vijay Mallya, announced that the restructuring that the company had undertaken over three year's ago is almost complete. The company has been introducing new products from the parent's stable such as Amaryl (an anti–diabetic), Allegra (respiratory) and Cardace (cardiovascular). It has plans to introduce Recombinant Insulin and Arava (a musculo–skeletal) in the future.
The Chairman expects the company to grow its topline by 10% plus in the current financial year.
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