Unichem ties-up with PLIVA Inc, PAT vaults 81 pc

Mumbai, May 19: Pharma major Unichem Laboratories Limited has entered into a product development, manufacturing and supply agreement with PLIVA Inc. USA, a wholly-owned subsidiary of PLIVA Pharmaceuticals, Zagreb, Croatia.

A press release issued here today stated that under the terms of the agreement, PLIVA shall fund certain development activities of Unichem, for its conferring exclusivity to PLIVA to market certain of its generics under joint label in the US markets.

The agreement covers five products initially, which are in an advanced stage of development, but allows for the inclusion of additional products upon mutual agreement.

Unichem has also fared well in Q4 FY 06 with its sales rising by 43.03 per cent to Rs 105.77-crore as against Rs 73.95-crore for the previous corresponding period. Its net profit too has almost doubled to Rs 13.54-crore from Rs 6.75-crore in Q4 FY 05, For FY 06, powered by a healthy growth in exports, Unichem recorded a sales of Rs 455.75-crore as compared to Rs 393.46-crore in FY 05, a growth of 15.83 per cent. Unichem's total income, including the turnovers from subsidiaries works out to Rs 459.9-crore as compared to Rs 405.45-crore in FY 05, a growth of over 13.44 per cent.

FY 06 net profit vaulted 81.53 per cent to Rs 81.85-crore as against Rs 45.09-crore, stated the release, adding that annualised EPS stood at Rs 22.72 in FY 06 as against Rs 13.20 in FY 05.

UNI