Forhans brand changes hands

New Delhi, Aug 2 (UNI) The owner of Forhans Toothpaste and Toothpowder, Wyeth Ltd today said it has sold the brand to John Oak Remedies Pvt Ltd, for a consideration of Rs 2.25 crore.

The company also said it has assigned its leasehold interest in factory at Nasik, where the brand was manufactured to Mahindra&Mahindra, for a consideration of Rs 2.5 crore.

Wyeth posted a 7.85 per cent drop in its net profit for the quarter ended June 30, 2006 at Rs 25.23 crore as compared to Rs 27.38 crore for the same quarter a year ago.

The total income decreased 13.21 per cent to Rs 78.96 crore for the quarter ended June 30, 2006, from Rs 90.98 crore for the quarter ended June 30, 2005.

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