Financial Daily from THE HINDU group of publications
Thursday, May 06, 2004
Financial Daily from THE HINDU group of publications Thursday, May 06, 2004 |
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Corporate
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Outlook Baxter pegs 30 pc growth this fiscal Our Bureau
New Delhi , May 5 BAXTER India is hoping to register growth of 25-30 per cent during the current year. According to Mr Sanjiv Verma, Managing Director, Baxter India, the company registered a turnover of Rs 200 crore during 2003 and hopes to grow in the area of renal therapy and intravenous solutions. The company is a leading supplier of continuous ambulatory peritoneal dialysis (CAPD) therapy for people with end-stage renal disease and hopes to bring down prices further. Currently, a patient spends about Rs 15,000 a month for this therapy, which enables him to undergo dialysis in the privacy of his home. ``Our next target is to bring down the prices to Rs 12,000 a month. But we must have adequate volumes to do that,'' Mr Verma added. The company is urging State Governments to waive off the sales tax for the product. ``States such as Tamil Nadu, Madhya Pradesh, Chattisgarh, and West Bengal have already agreed to do so. This will bring down the prices by about Rs 2,000,'' he said. The company has a manufacturing plant in Manesar, near Delhi. The company is presently marketing a variety of products including those used in blood collection, pain management, parental nutrition and innovative infusion systems.
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