Pfizer completes transaction with Piramal Enterprises

Pfizer has achieved completion of transaction of the sale of four products to Piramal Enterprises. The company sold products viz. Neko Soap, Sloans, Ferradol and Waterbury’s Compound for a total consideration of Rs 110 crore. Pfizer has completed its transaction with requisite formalities and receipt of necessary regulatory approvals for the transaction.

On the financial front, Pfizer’s revenue has increased by 3.74 per cent to Rs 501 crore in Q1FY17 as compared to same period in previous financial year. However, the company’s EBITDA has declined by 10.69 per cent to Rs 101 crore in Q1FY17 on a yearly basis. Its net profit also has risen by 6.48 per cent to Rs 80 crore in Q1FY17 as compared to same period in previous fiscal.

The share price of Pfizer has decreased by 2.19 per cent on bourses; and closed at Rs 1930.4 on an intraday basis.

Pfizer has a portfolio of approximately 140 products across over 15 therapeutic areas. The company is engaged in manufacturing, marketing, trading and exporting pharmaceutical products. It has its own manufacturing facility at Thane and Goa.