Rhone Poulenc executive chairman DD Chopra told shareholders at the company's annual general meeting here on Friday that the company has launched five new products and four line extensions, including Nivaquine vials, Secnil and Gardenal, in different therapeutic groups .

The company had taken a number of ``corrective and innovative steps in registration of pack design'' to check the menace of spurious products especially in the case of Phensedyl. Besides, the Government has also constituted a special cell under the ambit of the drugs controller to do away with this menace.

On the proposed merger with German multinational Hoechst AG, Rhone-Poulenc vice-president, South and South East Asia, Michel R Lienard said that it was not a logical conclusion that the two companies must mergein India. In response to a specific shareholder query, Lienard said, ``I am not sure that I entirely share the view that we cannot have two separate legal entities here, even as the parent company is merged,'' he said. The global merger will probably take place at the end of the year.

Chopra said that the refurbishment of the liquid formulations facility at Bhandup in Mumbai was completed as per schedule and the total amount spent is around Rs 10 crore. The production and productivity of liquid formulations has increased substantially after the refurbishment, he added.

As part of a restructuring plan, the company introduced a voluntary retirement scheme mainly for its employees at the Bhandup plant. In all, 132 employees opted for the VRS during the year. The exercise earlier also saw the discontinuation of the company's bulk chemicals and animal health business. The company had also acquired 14,77,804 shares in affiliate company Rhone Poulenc Rorer India in 1998-99.

Chopra also said that the companyhas implemented a portfolio optimisation project. ``We are further taking a critical look at our product portfolio with a view to optimising promotional efforts of the available field force to ensure better productivity,'' he aded. Significantly, Chopra is expected to lay down office in March 2000, after over 13 years with the company.

Meanwhile, shareholders approved all resolutions including the alteration of the memorandum of association to facilitate an amalgamation ``with any other company having objects wholly or partly similar to those of the company'' or to ``take or otherwise acquire and hold shares in any other company.''