Alborz Leading Pharmaceutical Investments
Economy, Business And Markets

Alborz Leading Pharmaceutical Investments

The chief executive of Alborz Investment Company, Mohammad Ali Mirza Kuchak Shirazi, has outlined the company’s current statistics and financial plans for the current Iranian year (started March 21).
“Alborz had forecast a 720-rial earnings per share for the past Iranian year, but it later raised its EPS by 20 percent to 864 rials,” said the executive earlier this week. The pharmaceutical investment company plans to increase its equity by up to 20 percent, IRNA reports.
The investment company’s shares are closed for trading for its annual shareholder meeting. Alborz shares rallied 7.7 percent in its last three days of trade before closing at 4,268 rials per share on May 26.

Alborz is Iran’s first investment company, established in 1976, specializing in pharmaceutical investments.
Barakat Pharmed Co. has a 60.55 - percent stake in Alborz. Barakat is a pharmaceutical holding owned by the Execution of Imam Khomeini’s Order - a program set up by Iran’s leadership after the 1979 Islamic Revolution to manage commercial holdings.
National Investment Company of Iran, controlled by Bank Tejarat, also has an 11.28- percent stake in Alborz. Tejarat has a 4.72 -percent direct stake in the company.

 Leading Pharmaceuticals
Comparing the corporation’s subsidiaries and the industry, Shirazi said, “While Alborz’s manufacturers have increased their sales by 25 percent during the past nine months, the figure is 12 percent for all listed pharmaceutical companies except for Alborz’s holdings.”
The company’s subsidiaries generated exceptional incomes compared to their rivals. The net income of the pharmaceutical investment group’s manufacturers rose 16 percent. Other pharmaceutical manufacturers’ net income dropped 25 percent.

 Plans and Projects
The executive highlighted Salehan Chemistry project as one of Alborz’s most significant projects for this year and said, “The project was launched in winter 2014 and started production in the next spring. Its profits will definitely benefit Alborz in the current fiscal year.
“The holding aims to complete and optimize the production basket of its subsidiaries and help them expand into new markets for pharmaceutical and medical products.”
Shirazi said Alborz also intends to compete in the medical raw material market through adding new items to its production lines.
Now, anti-cancer medicines (antineoplastic agents) are made by Sobhan Oncology Company, an Alborz subsidiary, which is under the license of Sanofi SA, a French multinational pharmaceutical company. “It is a measure to increase Alborz’s profitability.” Sobhan will be the 10th subsidiary of Alborz Investment to be offered in the stock market.

Short URL : http://goo.gl/klEL1y

You can also read ...

BMW’s Tech-Stuffed Concept SUV Heralds Fancy, Electric Future
Changing notions of what customers want from cars have pushed...
Tesla Hits New Speed Bump
Tesla Inc’s Chief Executive Officer Elon Musk on Sunday...
Oil & Gas Sector Most Conducive for Business
The research arm of Iran’s Parliament has conducted a first-of...
3 CBI Officials  to Leave
Following the recent passage of the law banning the employment...
CBA Concerned About Forex Outflow to Iran
The Central Bank of Afghanistan raised concerns about the...
Anzali Port to Be Connected to National Railroad
Anzali Port in the northern Gilan Province will be connected,...
Mineral Trade Surplus Hits $2.9b
Iran exported more than 25.47 million tons of mineral products...
Departure Tax Revenues  Up 117 Percent
The government earned 3 trillion rials ($24 million) from...