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| Exchange Disseminated Time | Abbott India Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on June 03, 2013, to consider the sale and transfer of, or other appropriate restructuring of, the proprietary pharmaceuticals dIvision ("PPD") of the Company.
By way of background, Abbott Laboratories, the ultimate parent corporation of the Company, has separated into two publicly traded companies - one in diversified medical products and the other in research-based pharmaceuticals. The parent Company for the research-based pharmaceutical companies is AbbVie Inc., a Delaware corporation.
For the year ended December 31, 2012, the PPD business accounted for Net Sales of Rs. 7622 Lakhs which is 4.73% of the Net Sales of Rs. 161309 Lakhs of the Abbott India Ltd. |
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