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Abbott India Ltd's board of directors on June 3 decided to defer the proposal for the sale and transfer of, or other appropriate restructuring of, the proprietary pharmaceuticals division (PPD)of the company.
Abbott Laboratories, the parent corporation of the company, had separated into two publicly traded companies - one in diversified medical products and the other in research-based pharmaceuticals. The parent company for the research-based pharmaceutical companies is AbbVie Inc, a Delaware corporation.
In the year ended December 31, 2012, the PPD business accounted for sales of Rs 76.22 crore which was 4.73 per cent of the net sales of Rs 1613.09 crore of Abbott India Ltd, the company had said earlier.
The shares of Abbott India were trading at Rs 1,500.05, a gain of Rs 29.70, on the BSE.
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