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Indian unit of Pfizer reports 3 percent rise in Q4 profit
Separately, parent Pfizer Inc reported higher-than-expected first-quarter revenue and profit, helped by demand for its COVID-19 products.
Bengaluru: Pfizer Ltd, the Indian unit of US pharmaceutical group Pfizer Inc, on Monday reported a 3.1 per cent 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 per cent.
Pfizer also declared a final dividend of 35 rupees per share and a special dividend of 5 rupees per share.
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 posted a 45.2 per cent increase in fourth-quarter profit, while Novartis India Ltd reported a quarterly profit compared with a loss a year ago.
Abbott India Ltd and GlaxoSmithKline Pharmaceuticals Ltd are scheduled to report its quarterly results later this week.
Ruchika Sharma joined Medical Dialogue as an Desk Editor for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751
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