The Board of Directors of Sanofi India at its meeting held on 10 September 2019 approved a transaction for the slump sale and transfer of the manufacturing facility of the Company at Ankleshwar, Gujarat to Zentiva for a consideration of Rs. 261.7 crore, subject to customary working capital adjustments. This transaction is subject to approval of the members, which will be initiated by the Company through a postal ballot process and few other conditions as defined under the Business Transfer Agreement.

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Net profit of Sanofi India declined 2.21% to Rs 97.40 crore in the quarter ended June 2019 as against Rs 99.60 crore during the previous quarter ended June 2018. Sales rose 9.41% to Rs 747.90 crore in the quarter ended June 2019 as against Rs 683.60 crore during the previous quarter ended June 2018.

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The result was announced after market hours yesterday, 29 July 2019.

Meanwhile, the S&P BSE Sensex was up by 117.07 points or 0.31% to 37,802.44.

On the BSE, 1059 shares were traded in the counter so far compared with average daily volumes of 1133 shares in the past two weeks. The stock had hit a high of Rs 6085 and a low of Rs 5895.55 so far during the day. The stock hit a 52-week high of Rs 6840.05 on 10 September 2018 and hit a 52-week low of Rs 5300 on 24 June 2019.

Sanofi India offers a wide array of medicines for therapy areas such as diabetes, cardiology, thrombosis, central nervous system and antihistamines

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The Board of Sanofi India at its meeting held on 29 July 2019 approved the appointment of Cherian Mathew (DIN - 08522813) as Additional Director to hold the office up to the next Annual General Meeting of the Company.

The Board also approved appointment of herian Mathew as Whole Time Director for a period of 5 years with effect from 29th July 2019 subject to approval of the members of the Company. The Board appointed Cherian Mathew as Key Managerial Personnel of the Company.

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