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Knoll Pharmaceuticals Ltd (Knoll) is a 58.2% subsidiary of Abbott Laboratories, subsequent to the global takeover of Knoll AG, a pharma unit of BASF AG, Germany by Abbott Laboratories, USA. The company is a leading player in the domestic insulin, anti-diabetic, pain control and antacid market with around 55% market share in the insulin business. Most of the company's drugs are under DPCO coverage. Recently company has changed its name from Knoll Pharma to "Abbott India Limited" to reflect the global association with the Abbott Group.
Knoll Pharma is the leader in the domestic insulin business, but it is facing serious competition from domestic players. Under the new parent, one would expect that the product basket of the company could receive a boost. The rising costs at Jejuri Plant along with increased market competition and general slowdown in the economy has forced the company to restructure its manufacturing operations by divesting its undertaking at Jejuri as a going concern. The divestment of plant at Jejuri will result in release of capital invested in the manufacturing facilities, increase savings and improve profitability. Knoll's plant at Verna, Goa continues to be eligible for Income tax holiday.
REASONS FOR ENTERING INTO AYURVEDIC MARKET
In the era of cutthroat competition every company searches for new market and new product. Abbott pharmaceutical is major name in allopathic pharma sector. They are market leader in various drug categories. But due to changes in market they have decided to enter into a new market. Herbal market and herbal products promises a good potential in near future. There are various reasons behind that.
1. change in life style of people
2. change in physician perception towards herbal drugs
3. Low research and development investment
4. flexible government law for herbal drugs
5. lack of severe competition in Herbal sector
Knoll Pharma is the leader in the domestic insulin business, but it is facing serious competition from domestic players. Under the new parent, one would expect that the product basket of the company could receive a boost. The rising costs at Jejuri Plant along with increased market competition and general slowdown in the economy has forced the company to restructure its manufacturing operations by divesting its undertaking at Jejuri as a going concern. The divestment of plant at Jejuri will result in release of capital invested in the manufacturing facilities, increase savings and improve profitability. Knoll's plant at Verna, Goa continues to be eligible for Income tax holiday.
REASONS FOR ENTERING INTO AYURVEDIC MARKET
In the era of cutthroat competition every company searches for new market and new product. Abbott pharmaceutical is major name in allopathic pharma sector. They are market leader in various drug categories. But due to changes in market they have decided to enter into a new market. Herbal market and herbal products promises a good potential in near future. There are various reasons behind that.
1. change in life style of people
2. change in physician perception towards herbal drugs
3. Low research and development investment
4. flexible government law for herbal drugs
5. lack of severe competition in Herbal sector