Dabur Pharma, which disposed of its non oncology business during April 2007, has suffered setback and its net loss amounted to Rs 0.87 crore during the fourth quarter ended March 2008 as against a profit of Rs 2.73 crore in the corresponding period of last year. Its net sales also declined by 21.5 per cent to Rs 43.91 crore from Rs 55.95 crore mainly due to selling off its non oncology business and rupee appreciation.
For the full year ended March 2008, Dabur's consolidated net loss, after tax but before extraordinary items, worked out to Rs 26.77 crore as against a profit o Rs 19.74 crore in the previous year. The company sold its non-oncology formulation division to Alembic Ltd on April 1, 2007 for a total consideration of Rs 160.32 crore and after considering the capital gain, the extra ordinary income amount worked out to Rs 125.36 crore. Due to this its net profit after extra ordinary income increased to Rs 98.58 crore as against Rs 19.74 crore in the previous year. Its consolidated net sales declined by 14.1 per cent to Rs 268.83 crore from Rs 313.08 crore.
Commenting on the results, Ajay Kumar Vij, CEO, Dabur Pharma, said "FY 2007-08 has been a good year for the company. It was the first full year of operations as a pure oncology player and the focus has started yielding positive results which is clearly visible in the excellent Oncology Formulations growth. This coupled with the major investments that we have been making in research and international market development will ensure that the growth momentum is aptly maintained well into the future".
He further mentioned that the approval of indigenously developed 'Nanoxel' (Nanoparticles Paclitaxel) for additional indications by the Drug Controller General of India (DCGI) is an excellent example of how the company's commitment towards research is bearing fruit.
The company set up a new subsidiary in USA namely Dabur Pharma USA Inc., by way of acquisition of shares worth Rs 0.41 lakh through its another wholly owned subsidiary Dabur Oncology Plc, UK.
Fresenius Kabi (Singapore) Pte. Ltd, a subsidiary o Fresenius SE, a body corporate incorporated in Germany, has entered into an agreement with majority of shareholders of the company for acquisition of their stake subject to approval of transfer of shares by the appropriate authorities. Said agreement, when implemented, will naturally entail change in the management.