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AstraZeneca Pharmaceuticals to provide voluntary non repayable financial grant

06 May 2013 Evaluate

AstraZeneca Pharmaceuticals promoter- AB Sweden has decided to provide a voluntary non repayable financial grant of approximately $22.5mio (Rs 1192 mio) to 26,5mio (Rs 1404 mio) over the three years period FY14 - FY16 under a subvention agreement of which the first tranche of $14mio (Rs 740 Mio) shall be provided to the company in the current financial year. Management has factored this voluntary non repayable financial grant by the promoter in its business plan.

Management is reasonably confident, barring unforeseen circumstance, that the strategy plan --  commencing operations at the new tablet facility, retrieving market share of the company products, supplies of which were interrupted last year, further strengthening brand presence, enhancing sales force effectiveness and improved cost management -- will enable the company to achieve in the medium term revenue growth ahead of market and return to profitability.

AstraZeneca operates through two entities, AstraZeneca Pharma India and AstraZeneca India in the country.

Astrazeneca Pharma I Share Price

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