Financial Daily from THE HINDU group of publications
Friday, Dec 13, 2002
Financial Daily from THE HINDU group of publications Friday, Dec 13, 2002 |
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Corporate
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Announcements Merck India's diagnostic biz not part of global sale Our Bureau
MUMBAI, Dec. 12 MERCK Ltd, the Indian arm of the international pharma firm, Merck KgaA, today said that the company would remain in the diagnostics business in India despite the parent company selling off its global diagnostics business. In a notification to the stock exchanges, Merck Ltd said that the Indian diagnostic business was an independent business unit and not part of the sale. The business is conducted in collaboration with progressive companies across the world. Merck Ltd has local production and repacking facility for Merckotest and Ecoline range of reagent kits at Taloja. Merck KgaA sold its diagnostics business to German firm DiaSys last month. "All these activities have been excluded from the above-referred transfer of business by Merck KgaA to DiaSys. Diagnostics manufacturing, repacking and selling activities in India will be continued and pursued successfully on long-term basis,'' the statement said. In the quarter ended September 30, 2002, Merck Ltd registered a net profit of Rs 10.84 crore and net sales of Rs 89.36 crore.
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