Parke-Davis backgrounder
Parke Davis’s Indian
operations
06 November 1999
Parke Davis India became a deemed public company in 1961, and a public limited company in 1970. Its American parent was acquired by Warner Lambert in 1970. In 1982, Warner Lambert diluted its equity in the Indian venture to 40 per cent.
Later Parke Davis India hived off its confectionery business to Warner Lambert India, a 100 per cent subsidiary of the US parent. Since then, the company has concentrated on ethical formulations and over-the-counter products. About a tenth of the company's products are estimated to be covered by the Drug Price Control Order.
Financial highlights (Year ended 31 March)
| figures in Rs lakh | 1999 | 1998 |
| Income | 19,072.82 |
|