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This is a landmark year. On August 22,2019, your Company completes 75 years of its remarkable existence. On behalf of the entire Board, I would like to express my sincere gratitude to all of you - our dear shareholders, employees and business partners, for your constant support through the decades and for being part of our path-breaking journey. Your trust has been inspirational and instrumental in shaping our success over all these years.
This milestone is an occasion to celebrate, to reflect on the past and an opportunity to chart the future.
Abbott India is one of the oldest and most respected healthcare companies in India. Its growth trajectory has been sharp, with several milestones. The Company incorporates the legacies of great organizations such as Boots, Knoll and then Abbott since 2001. The Company’s position as a global pharmaceutical company with a strong presence in India was enhanced through increased sales, better pharmaceutical research and development, and solid commercial grounding. The merger of Solvay Pharma India into the Company provided an expanded range of healthcare products and a significant impetus to its growth. Your Company has been steadily achieving its vision of helping people in India live healthier lives through innovative, high-quality and trusted products, backed by expert clinical support.
Your Company has consistently fulfilled its objectives, with significant breakthroughs on a long list of strategic initiatives. Today, your Company leads from the front in multiple therapeutic categories such as Women’s Health, Gastroenterology, Metabolics, Pain Management, Central Nervous System and Vaccines.
As we embark on a new journey, we welcome Mr Sudarshan Jain and Mr Mark Murphy II who have recently joined our Board of Directors.
Mr R A Shah, who was associated with the Company for over 35 years, retired on March 31, 2019 upon completion of his term. We sincerely thank Mr Shah for his support and guidance and wish him good health and all the best in the future. 2018 was a year of resilience and successful strategic planning. Total Revenue amounted to Rs,3,792 Crore, recording a growth of 10.7% over the previous year. Profits grew by 12.2%. The Company remains on a strong growth trajectory and our motto of “Breaking Barriers - Enabling Care” has been fulfilled in a way that reveals the strengths and capabilities of the people behind our success, year after year.
In keeping with the solid performance of the Company, your Board has proposed a final dividend of Rs,50 and special dividend of Rs,15 per share for the year ended March 31,2019.
At Abbott India, we don’t just break performance barriers, we build bridges that show how much we care. Healthcare Professionals and patients are able to access holistic and quality healthcare solutions through various programs such as “Making India Thyroid Aware” in partnership with the Indian Thyroid Society; aic are - a 360 degree ecosystem connecting healthcare professionals and patients; GUTFIT, a unique lifestyle modification program and PANCREOSCOPIE, an online knowledge sharing platform, reaching out to Gastroenterologists with cutting-edge insights.
We also seek to create stronger and healthier communities, enabling people to fulfil their potential and live their life to the fullest. We do so by working with the Government, international healthcare organizations and community-focused NGOs, engaging consumers and leveraging the skills and passion of our own employees.
The Abbott India team of 3,485 dedicated professionals is our most valuable asset.
Their commitment and resilience has helped us overcome all challenges in a volatile environment. We believe in motivating and engaging our employees through shared goals, capability-building initiatives and career growth opportunities. We provide our people with an environment of transparency, accountability, and positive reinforcement.
Brand, talent and culture remain key factors in delivering sustainable business and earnings growth, thus creating long-term value for our stakeholders.
I am proud to announce that your Company was recognized as the “Company of the Year” by
AIOCD Pharmas ofttech AWACS, and received many other prestigious awards for its brands and marketing campaigns.
As we move forward, the healthcare landscape in India is expected to improve in the coming years, driven by rising incomes, greater health awareness and diagnosis through technology. Government-led initiatives such as Ayushman Bharat and access to insurance will also help.
We see 2019-20 as another year of consolidation and acceleration. With our Service Plus culture, we will ensure differentiation, and continue outperforming the market. We will build new products to consolidate our leadership in key therapies and enter new high-potential areas. We will enhance therapy growth to ensure sustained business progress.
We will surge ahead with innovative marketing initiatives and services to retain our position as one of the leading pharma companies in India, while breaking new ground.
On behalf of our Board of Directors, I would once again like to thank you all - our shareholders, our employees, our customers and partners for supporting us on this exciting journey.