Wyeth transfers Nasik factory lease rights to M

New Delhi, Aug 2 (UNI) Wyeth Ltd today said it has assigned its leasehold interest in factory at Nasik, to Mahindra&Mahindra, for a consideration of Rs 2.5 crore.

The company also assigned its brand Forhans Toothpaste and Toothpowder, and its know-how, manufactured in the premises to John Oak Remedies Pvt Ltd, for a consideration of Rs 2.25 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.

UNI CS RA1625