ABBOTT INDIA LIMITED
ANNUAL REPORT 2021-22
ENRICHING LIVES,
EVERYDAY
TABLE OF CONTENTS
CORPORATE OVERVIEW
2 | About Abbott India |
4 | Product Profile |
6 | Our Business Case |
8 | Chairman's Message |
10 | 10-year Financial Highlights |
Enriching Lives of | |
Read more 16 | |
Our Patients through |
Corporate Overview | Statutory Reports | Financial Statements | Notice |
ENRICHING LIVES,
EVERYDAY
12 | Managing Director's Message |
14 | Key Performance Indicators |
16 | Customer Centricity |
20 | Knowledge Sharing |
22 | People |
TRENDS IMPACTING VALUE CREATION
- Operating Environment
- Strategic Priorities
- Business Model
ESG
34 Environment
- Social - Community
- Governance
- Board of Directors
- Senior Leadership Team
STATUTORY REPORTS
44 Board of Directors' Report and Management Discussion and Analysis
- Business Responsibility Report
- Corporate Governance Report
FINANCIAL STATEMENTS
101 Independent Auditor's Report
- Balance Sheet
- Statement of Profit and Loss
- Statement of Cash Flows
- Statement of Changes in Equity
- Notes to the Financial Statements
168 NOTICE
Holistic Solutions |
Enhancing Customer Read more 20
Experience through
Scientific Knowledge
Protecting a | Read more | 34 |
Healthy Environment |
for Us All
78T H | Date: August 10, 2022 |
Time: 9.30 a.m. | |
A N N UA L | Through Video Conferencing |
G E N E R A L | |
(VC)/Other Audio-Visual | |
M E E T I N G | |
Means (OAVM) | |
FORWARD-LOOKING STATEMENT
In this Annual Report, we might have disclosed forward-looking statements that set out anticipated results based on the management's plans and assumptions. We cannot guarantee that these forward-looking statements will be realized, although we believe we have been prudent in our assumptions. The achievements of results are subject to risks, uncertainties, and inaccurate assumptions. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
References to "Abbott India" in this Annual Report shall mean "Abbott India Limited" or "the Company".
At Abbott India Limited, we strongly believe that quality health is critical to enriching the world around us. We are happy and proud to play a part in building a healthier and better world.
We are consciously designing products and solutions to help ensure maximum access and affordability because a sustainable future starts with health, and that the best medical solution is the one that helps the most people. We have made a choice to create holistic healthcare solutions that address the entire continuum of care and help us bring meaningful change in people's lives.
During last year, we were able to enrich our performance despite the challenges around us, and we continued to explore new avenues. Our relentless focus to provide value for all our stakeholders helped us in delivering consistent growth and strong returns.
Through constant innovations in our products and offerings, we have been able to enrich our value delivery to our customers who depend on our solutions every day - be it patients or doctors. We play a key role in helping society and the people around us. Our commitment to our people, the environment and community remains as strong as ever.
1
Abbott India Limited
ABOUT ABBOT T INDIA
Corporate Overview | Statutory Reports | Financial Statements | Notice |
EVOLVED OFFERINGS FOR OUR CUSTOMERS
We have over seven decades of unparalleled experience in offering high-quality treatment and services. As a leader in the industry, we need to be fast, agile and more competitive than ever. That's why our product portfolio caters to therapies and indications that will lead the healthcare ecosystem. Our differentiated offerings reflect our drive for sustained innovation that will help make people's lives healthier.
WOMEN'S HEALTH
We are committed to supporting women in India through every stage of their lives - from menarche, pregnancy and menopause support to changes after that. Over the last few years, we have built our legacy brands for pregnancy and are currently shaping the menopause, labor management and endometriosis therapies.
METABOLICS
The thyroid category has many undiagnosed patients, and our path-breaking work in this space for over a decade has helped shape the therapy along with improving diagnostic screenings and scientific engagements.
We offer treatment for conditions such as hypothyroidism and continue to focus on the metabolic health space to evolve newer sub-therapies.
CENTRAL NERVOUS SYSTEM (CNS)
We continuously strive to reduce the impact that diseases of the central nervous system have on people's lives. Our CNS portfolio help people better manage their acute as well as chronic problems. Our main products in this therapeutic area are indicated for vertigo, epilepsy, migraine and depression.
IMPROVING THE
HEALTH OF INDIANS
GASTROENTEROLOGY
Aligned with our purpose to harness and nurture the promise of human potential, our offerings in the gastrointestinal space span the spectrum of gastrointestinal health, provide solutions for every age and stage, and address all areas of gut care. Our products in this portfolio cater to ailments covering the
VACCINES
We are tackling some of the world's most pressing healthcare challenges and we focus on vaccines that help alleviate the disease burden of vaccine preventable diseases. Our portfolio caters to the immunology segment with products targeting influenza, typhoid, diarrhea and hepatitis A.
Abbott India Limited, a publicly listed company and subsidiary of Abbott Laboratories, USA,
is committed to providing quality healthcare through a mix of global and local products for people in India. Our in-house development and medical teams work on product and clinical development, targeted to the specific needs of Indians. Our 3500+ strong human capital use cost-effective processes to develop high-quality,high-volume formulations.
We endeavor to maintain the highest level of quality throughout our business. This effort starts with the sourcing of materials and moves through how we market, sell,
and supply our products, including through our business partners - delivering excellent quality is imperative every step of the way.
Our commitment to the health and safety of the people who use our products is always at the forefront of everything we do. We have been helping people lead better lives through our trusted medicines and solutions for over 75 years, and we will continue to do so.
gastrointestinal tract from the stomach to intestines and associated organs. Our differentiated offerings in this area are indicated for constipation, irritable bowel syndrome, pancreatic exocrine insufficiency, dyspepsia and gut health.
MULTI-SPECIALTY
A healthy body enables us to live well. To ensure that people can live their best possible lives, our multi-specialty portfolio caters to a wide range of conditions-be it a headache or lack of sleep. Our differentiated products range from pain management, pre-term labor, vitamin D (liquid and gummy bears), and insomnia for overall well-being.
CONSUMER HEALTH
We are always looking to the future, anticipating changing consumer needs. Putting our customers at the center of everything we do, we are building our consumer portfolio strategically for relevance to where medicine and technology, our markets, customers, and health consumption are heading. We provide a range of Consumer Health products including antacids (in tablets, syrups and stick packs), laxatives and pain reliever spray.
₹4,919 Crores | ₹1,165 Crores | ₹799 Crores |
Revenue, +14.1% | EBITDA, +16.2% | PAT, +15.6% |
OUR ENVIRONMENT ACHIEVEMENTS FOR FY 2021-22
KPI | TARGET | UTILIZED | RESULT AGAINST THE TARGET |
Water (KL) | 48,615 | 46,869 | 1,746 KL less water used |
CO2 (MT) | 4,809 | 4,808 | 1 MT less CO2 emission |
2 | Annual Report 2021-22 | 3 |
Abbott India Limited
PRODUC T PROFILE
HOLISTIC SOLUTIONS
FOR BETTER HEALTH OUTCOMES
We have been successful in sustaining leadership in the areas we operate. A large number of our high-performing brands are market leaders (at number 1 or 2 positions)* in their respective therapy segments. We continuously endeavor to identify emerging healthcare needs and invest in innovative solutions to help shape a new-age healthcare ecosystem.
NEW PRODUCTS LAUNCHED
Brivetoin Solution (epilepsy), Havshield (hepatitis A vaccine), Femoston 2/10 (postmenopausal symptoms), Riligol (post-partum haemorrhage), Vertin DT (vertigo), Florachamp (probiotic for irritable bowel syndrome), Preservgest (pregnancy maintenance), Cremaffin Stick Pack (constipation), Digene Stick Pack (acidity), Arachitol Gummies (vitamin D supplementation)
*Source: IQVIA: MAT March 2022
4 Annual Report 2021-22
Corporate Overview | Statutory Reports | Financial Statements | Notice |
KEY BRANDS
Duphalac (constipation), Digene (antacid), Vertin (vertigo), Influvac (prevention of influenza), Thyronorm (hypothyroidism), Creon (pancreatic insufficiency), Duphaston (miscarriage and IVF), Udiliv (cholestatic chronic liver disease), Brufen Power Spray (analgesics)
Arachitol (vitamin D deficiency), Pankreoflat (indigestion), Librax (irritable bowel disease), Heptral (liver disease), Zolfresh (insomnia), Prothiaden (pain & depression), Ganaton (gastrointestinal dysmotility), Duvadilan (preterm labor), Cremaffin Plus (constipation), Cremaffin (constipation), Colospa (irritable bowel disease)
5
Abbott India Limited
OUR BUSINESS C ASE
Corporate Overview | Statutory Reports | Financial Statements | Notice |
SHARING GROWTH AND ACTIONING
POSSIBILITIES
STEPPING UP OUR DELIVERABLES
Differentiated new product introductions for key therapy areas
Increasing use of digital technology to support doctors and patients
Robust distribution networks and process developments to ensure timely outcomes
MARKET SHAPING INITIATIVES
To promote therapy leadership and achieve market- beating growth, it is crucial to shape important therapies.
Our initiatives in therapies like Thyroid disorders, Women's Health, Vaccines, etc. have helped improve brand focus and unlock growth opportunities while delivering more evolved outcomes for a larger number of patients.
PILL PLUS OFFERINGS
We aim to drive differentiation for doctors and better outcomes for their patients by engaging across the continuum of care. Our constant interactions with our partners and stakeholders allow us to identify their unmet needs and deliver innovations that help patients lead a healthy life.
Our value is not limited to providing high-quality, safe medicines but extends to providing solutions for better patient education, faster diagnosis and increased medication adherence.
RESILIENT SALES FORCE
The 3,000+ member resilient sales force are passionate and committed to making a difference through consistently engaging with the medical fraternity to drive growth of the Company. Further, we have empowered the sales force and equipped them with effective digital tools to drive seamless engagement.
RESPONSIBLE CITIZEN
We are a responsible corporate citizen and trusted partner. We consistently take steps to protect and safeguard the environment for our people and customers.
We invest in long-termwell-being and development of our associates and communities.
ROBUST FINANCIALS
The strength of our business model has been consistently translating into superior financial performance. We have
consistently been able to drive double digit EBITDA and net
profit margins. We have generated strong return to each rupee invested in the business.
Proven scientific expertise, holistic solutions beyond the pill and stakeholder centricity make Abbott India an enduringly successful company. We prioritize purpose, profitability, and progress in equal measure, which makes us a responsible and prudent growth and investment vehicle for investors.
STRONG PARTNERSHIPS
We have built a strong network of valued partners over the years of our operations in India. Our trusted partners in the government, educational institutions, NGOs and healthcare professionals help us deliver better products,
11.4%
Revenue from Operations
DIVERSIFIED OFFERINGS
To cater to diverse and different range of health needs, we offer comprehensive range of products across multiple therapeutic categories, including Women's Health, Gastroenterology, Neurology, Thyroid, Diabetes, Pain Management, General Care, Vitamins and Vaccines.
SCIENCE BASED BRANDED PORTFOLIO
Our broad portfolio of over 125 products has been consistently outpacing industry growth. Our top 15 brands are leaders* (positioned at #1 or #2) in their respective segments and contribute to over 80% of the Company's core business.
ENTERING NEW MARKETS/NEW THERAPIES
NEW PRODUCTS LAUNCHES
Introduction of new drugs and entering new therapeutic areas will continue to be driven by the need-gaps in the healthcare pipeline. We are consistently working towards identifying new opportunities.
We expanded the breadth of our key portfolios and introduced 10 new products this year in different therapeutic areas - Women's Health, Gastroenterology, Central Nervous System,
shape therapies, increase reach and eventually deliver better health outcomes for our customers.
ROBUST PEOPLE DISTRIBUTION NETWORK
We have a robust distribution network of more than 8,600 stockists and 60 Lakhs retailers. This network helps us to reach closer to our patients on one hand and also acts as a strong feedback channel for our products and solutions.
10 years CAGR
17.9%
EBITDA
10 years CAGR
18.6%
PAT
10 years CAGR
HIGH QUALITY MANUFACTURING
We earn trust of our customers by providing high-quality and safe products. Product quality remains one of the key differentiating factors and strongest driver of equity with doctors as well as patients. We have a world-classstate-of-the-art manufacturing plant at Goa.
*Source: IQVIA: MAT March 2022
6 Annual Report 2021-22
Multi-speciality and Vaccines.
FO CUS ON INTERN ATION AL BUSINESS
We have operations in four countries - Nepal, Sri Lanka, Maldives and Bhutan. Our focus on developing business in these neighboring countries and serving people through our quality products is increasing.
125+ | 8,600+ | 3,597 | 29.5% |
Quality | Stockists | Employee | RoCE in |
products | 60 Lakh+ Retailers | strength | FY 21-22 |
portfolio
*Source: IQVIA: MAT March 2022
7
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Abbott India Limited published this content on 18 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 July 2022 13:13:00 UTC.