In September 2019, the drug maker India had sold its Ankleshwar manufacturing plant to European pharmaceutical company Zentiva for Rs 261 crore as a part of its long-term strategy. Sanofi had said it would use the sale proceeds for further business development and to reward shareholders.
The transaction is expected to close by March 31, 2020 and the products which are not part of the 'Zentiva portfolio' will continue to remain with the Company, the company said on Tuesday.
Meanwhile, the company reported a 38.5 per cent year on year (YoY) growth in profit before exceptional item and tax at Rs 181.2 crore for the December quarter, as against Rs 130.8 crore logged in the year ago quarter. Operational revenue grew 13.7 per cent at Rs 826.3 crore on YoY basis.
Besides, in a separate regulatory filing, Sanofi India
informed that Thomas Rouckout, non-executive director of the company has stepped down as director of the company.
“Thomas Rouckout informed the Company vide his letter dated 25th February 2020 that he has taken up a new role within Sanofi Group and would not be able to spend time on Sanofi business in India,” it added. READ FILING HERE
In the past one month, Sanofi India has outperformed the market by gaining 15 per cent, as compared to a 4 per cent decline in the S&P BSE Sensex.
At 09:33 am, the stock partially erased its early morning gains and was trading 3 per cent higher at Rs 7,197 on the BSE. In comparison, the S&P BSE Sensex was down 0.62 per cent at 40,028 points. A combined 56,146 shares have changed hands on the counter on the NSE and BSE so far.