Latest News | Pfizer Ltd Q2 Net Profit Up 9 Pc to Rs 143 Cr

New Delhi, Nov 3 (PTI) Drug firm Pfizer Ltd on Wednesday reported an 8.81 per cent rise in net profit to Rs 142.95 crore for the quarter ended September 30, 2021.

The company had posted a net profit of Rs 131.37 crore for the corresponding period of the previous fiscal, Pfizer Ltd said in a filing to the BSE.

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Revenue from operations stood at Rs 636.26 crore for the quarter under consideration, as against Rs 595.41 crore a year ago, it added.

"During the quarter the company has entered into a business transfer agreement with Mylan Pharmaceuticals Pvt Ltd to transfer certain primarily off-patented and generic established medicines business (Upjohn Business) as a going concern for a consideration of Rs 180.48 crore," Pfizer Ltd said.

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Completion of transaction is subject to fulfilment of certain conditions as set out in the agreement, it added.

The Upjohn business comprises six brands -- Lyrica, Viagra, Celebrex, Amlogard, Daxid and Dilantin.

Revenue for the Upjohn business for the quarter ended September 2021 is Rs 21.1 crore, the filing said.

Shares of Pfizer Ltd closed at Rs 5,028.35 on BSE, down 1 per cent from its previous close.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)