B&L SEES 35% RISE IN CONTACT LENS MARKET
Article Abstract:
The global player in vision care business, Bausch & Lomb (B&L), is to consolidate its position in the Indian contact lens market, which has been growing at the rate of 22-24 percent in the last 4 years. In 1998-99, it is expected to grow at the rate of 35 percent. In the vision care segment, BL holds a market share of 55 percent. BL made turnover of Rs20 crore in 1997-98. It is yet to achieve break-even on its operations. Till now, B&L has invested over Rs35 crore in creating a market for contact lens in India, of which Rs20 crore has been invested on educational programmes and Rs15 crore in upgrading its Bhiwadi plant for manufacture of international quality lens. (gsh)
Comment:
Expects in 1998-99 to grow at the rate of 35% in vision care segment, as it holds market share of 55%
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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P&U PLANS $8.8-M LENS PLANT NEAR BANGALORE
Article Abstract:
Pharmacia & Upjohn (P&U), an American-Swedish drug company, has scheduled the commissioning of its $8.8 million intraocular lens plant near Bangalore for October 1998. P&U (India), the wholly owned subsidiary of P&U, has targeted sales of Rs120 crore by the year ending December 2000. The Bangalore unit will have an installed capacity of 5 lakh lenses per annum but the company has targeted sales of one lakh units in the first full year of operations. It will produce one-piece lenses, with those meant for internal implantation priced at Rs1000 per lens. The company will also launch Caverject, an erectile dysfunction injection, in 1999. (khr)
Comment:
Schedules the commissioning of its $8.8 mil intraocular lens plant near Bangalore for 10/98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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MONTARI MAY SELL BAUSCH & LOMB STAKE TO STAY AFLOAT
Article Abstract:
The ailing Montari Industries Ltd may have to divest its around 10 percent holding in Bausch & Lomb India to raise the finance needed for its revival. The Board for Industrial and Financial Reconstruction has approved selling the shares proposed in the company's draft rehabilitation scheme. The shares are currently pledged with the Industrial Development Bank of India. The Rs34 crore net worth of Montari Industries has been eroded by accumulated losses of Rs67.30 crore. (khr)
Comment:
The ailing Montari Industries Ltd may have to divest its around 10 percent holding in Bausch & Lomb India to raise the finance needed for its revival.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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