MIRA
INFORM REPORT
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Report Date : |
12.06.2007 |
IDENTIFICATION DETAILS
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Name : |
APOTEX INC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
01.04.2004 |
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Legal Form : |
Provincially
Chartered Corporation |
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Line of Business : |
Manufacturer and
Marketer of various dosages of generic, over the counter, and private label
pharmaceuticals |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name :
APOTEX INC.
Address :
City :
WESTON
State/Province :
Zip Code :
M9L 1T9
Country :
Telephone :
416 749-9300
Facsimile :
416 401-3849
Legal Form :
Provincially Chartered Corporation - Private
Website :
www.apotex.ca
Number of Employees : 3,600
Business Activity : APOTEX INC. is a manufacturer and marketer of various
dosages of generic, over the counter, and private label pharmaceuticals.
Founded (D/M/Y) : 1974
As of : --
Sales / Revenue : --
Net Income : --
Total Equity : --
NOTE TO CLIENT
Person Contacted: Ms.
Heather Blight, Assistant to Vice President of Finance.
SPECIAL QUESTION: The
Firm does not do business as SIGNET. SIGNET is the street name of the Firm's
headquarter location.
LEGAL
Legal Form :
Provincially Chartered Corporation
PrivateSince (D/M/Y) : 01/04/2004
State/Province of Incorporation : ON
Status :
ACTIVE
Previous Legal Form:
Company is NOT required
to publish an annual financial report. The Firm is registered in
Name :
APOTEX INC.
Date :
APRIL 1, 2004
Corp Id :
001612278
Status :
ACTIVE
Jurisdiction :
Managers/Key
Personnel
Mr. Jack Kay President & Chief Operating Officer
Mr. Gordon Fahner Vice President - Finance
Mr. Barry Sherman Chairman & Chief Executive Officer
Mr. Colin Simpkin Marketing Director
AFFILIATED ENTITIES
There are no otehr
affiliates at this time.
Parent Companies
Parent Company: APOTEX
PHARMACEUTICAL HOLDINGS INC.
WESTON ON M9L 1T9
Subsidiaries: APOTEX FERMENTATION INC.
APOTEX CORP.
UNITED STATES
APOTEX RESEARCH INC.
Divisions
APOTEX INTERNATIONAL
NOVEX PHARMA
TORPHARM
ACCUCAPS
CANGENE
BANKS
BANK OF
Telephone: 416 867-6964
Facsimile: 416 856-7443
Account Number:
Account Manager:
Policy prohibits the bank
from releasing information concerning the bank's commercial customers.
PAYMENT HISTORY
Supplier's
Name/Industry Terms Amount/Pay
Habits/Comments
Rptd Open
Credit Credit High
Total Current Past Due/Pay Period
Date Date
Limit Limit Dt. Credit Owing
$ 1st 2nd
3rd
Whlsl-Electronic Pts:
*Jun 0 20,126 20,126
19,861 265 0
0
KTS TOOLING SUPPLY: 416-675-9411
*Jun 0 553 553
71 482
0 0
DICOM EXPRESS INC.: 514-636-8033
*Jun 0 759 759
368 391 0
0
Transportation Serv: Merged accts
*Jun 0 2,169 2,169
354 390 1,019
406
Whlsl-Farm Supplies:
*Jun 0 150K 15,816
15,267 549 0
0
Utility Systems:
*Jun 0 318 318
318 0 0
0
Whlsl-Plumbing/Heatg: Merged accts
*Jun 0
6,424 2,209 0
0 2,209 0
Wholesale-Elec Equip:
*Jun 0 1,127K 53,873
0 53,873 0
0
Mfr-Plastic:
*Jun 0 16,831 16,831
10,231 6,600 0
0
Wholesale-Elec Equip:
*Jun 0 18,869 11,814
6,139 4,993 432
250
Wholesale-Elec Equip:
*Jun 0 23,968 188
188 0 0
0
KLOCKNER PENTAPLAST: 905-433-9232
*Jun
0 900K 415K
223K 192K 0
0
Transportation Serv:
*Jun 0 146K 146K
0 134K 11,783
0
Business Services:
*May 0 52,773 52,773
52,773 0 0
0
Transportation Serv:
*May 0 4 4
0 4 0
0
Whlsl-Ind Mach Sppls: Merged accts
*May 0 44,772 44,772
20,923 8,360 8,815
6,674
Mfr-Plastic:
*May 0 69,507 69,507
46,201 23,306 0
0
Transportation Serv:
*May 0 60 60
0 0 0
60
Whlsl-Ind Mach Sppls:
*May 0 684 684
0 684
0 0
Mfr-Paper Box:
*May 0 63,000 13,454
7,369 5,318 0
767
Wholesale-Elec Appls:
*May 0 20,000 1,299
0 1,299 0
0
Trucking:
*Apr 0 909 909
0 0 909
0
Utility Systems:
*Apr 0 2,417 2,417
2,417 0 0
0
Whlsl-Ind Mach Sppls:
*Apr 0 1,086 1,086
0 1,086 0
0
Mfr-Inorganic Chemcl:
*Apr 0 1,163 1,163
1,163 0 0
0
Cntr-Plmbng-Heat-Air:
*Apr 0 7,074 7,074
7,074 0 0
0
Whlsl-Professnl Equp:
*Apr 0 68,257
68,257 16,262 49,571
0 2,424
Cntr-Plmbng-Heat-Air:
*Apr 0 69,848 69,848
3,200 66,648 0
0
Manufacturing Indust:
*Apr 0 50,138 50,138
49,245 0 0
893
Retail-Bldg/Hardware:
*Apr 0 50,000 1,510
1,510 0 0
0
Wholesale-Chemicals:
*Apr 0 6,936 6,936
6,442 494 0
0
Whlsl-Plumbing/Heatg:
*Apr 0 6,125
6,125 5,368 0
757 0
Mfr-Inorganic Chemcl:
*Apr 0 729 729
729 0 0
0
Wholesale-Chemicals:
*Mar 0 90,817 58,559
31,562 0 26,997
0
Retail-Bldg/Hardware:
*Mar 0 119 119
0 0 34
85
Transportation Serv:
*Mar 0 31 31
31 0 0
0
VIPOND FIRE PROTECTI: 905-564-7060
*Mar
0 1,602 182
0 182 0
0
------- -------
------- ------- ------- -------
P.I. =
20 90 Days 3,021K
1,143K 528K 551K
52,955 11,559
Reported ------- ------- ------- ------- -------
-------
Whlsl-Ind Mach Sppls:
*Mar 0 944 944
944 0 0
0
Business Services:
*Mar 0 35,152 35,152
29,957 5,195 0
0
Wholesale-Elec Equip:
*Mar 0 175K 111
0 0 111
0
Business Services:
*Mar 0 3,689 3,689
3,689 0 0
0
Whlsl-Electronic Pts:
*Mar 0 3,563
3,563 1,690 119
1,123 631
Trucking (APTA):
*Feb 0 1,500 148
0 148 0
0
Services-Health:
*Feb 0 83,105 83,105
77,358 138 852
4,757
Whlsl-Drug Supplies:
*Feb 0 1,246K 1,246K
1,246K 0 0
0
Mfr-Pump &
Pumping E:
*Feb 0 7,997 7,997
0 0 7,964
33
Business Services:
*Jan 0 7,712 7,712
7,712 0 0
0
Mfr-Rubber/Plstc Pro:
*Jan 0 5,000 305
305 0 0
0
Publisher-Newspaper:
*Jan 0 33,491 33,491
32,070 1,421 0
0
Mfr Fabricated Metal:
*Jan 0 259 259
259 0 0
0
Trucking:
*Jan 0 183 183
0 0 0
183
Mfr-Air Conditioning:
*Jan 0 10,320 10,320
10,320 0 0
0
Business Services:
*Dec 0 51,145 51,145
39,883 442 10,820
0
KINNEAR INDUSTRIES C: 905-890-1400
*Dec 0 3,805 3,805
3,805 0 0
0
Mfr-Soap &
Cleaner: Merged accts
*Oct 0 10,000 4,708
0 4,708 0
0
Mfr-Rolling Mill Mac:
*Oct 0 1,637 1,637
1,637 0 0
0
Mfr-Pharmaceutical:
*Oct
0 136K 136K
136K 0 0
0
Whlsl-Ind Mach Sppls:
*Oct 0 2,418 2,418
0 2,418 0
0
Whlsl-Plumbing/Heatg:
*Oct 0 391 391
391 0 0
0
*Oct 0 284 284
0 0 0
284
Mfr-Food Prep and Ki: Within Terms
*Oct 0 20,000 0
0 0 0
0
Wholesale-Elec Equip:
*Aug 0 8,758 8,758
8,758 0 0
0
Whlsl-Constr/Mine Eq:
*Aug 0 338 338
0 338 0
0
Mfr-Pharmaceutical:
*Aug 0 249 249
249 0 0
0
Whlsl-Industrl Paper:
*Jul 0 1,213 1,213
0 0 0
1,213
------- -------
------- ------- ------- -------
P.I. =
10 Total 4,873K
2,788K 2,130K 566K
73,825 18,660
Reported ------- ------- ------- ------- -------
-------
PAYMENT TRENDS
Payment
C.I. Number of Total
Current Overdue
Quarters
Index Score Suppliers
Owing $ 1st 2nd
3rd
1 Qtr/2007
4 18 41
2,014K 1,857K 102,245
38,166 16,948
4 Qtr/2006
21 17 37
2,332K 881,001 1,403K
45,786 2,580
3 Qtr/2006
42 15 38
3,377K 546,031 1,470K
1,340K 20,606
2 Qtr/2006
18 17 31
1,938K 1,001K 863,340
53,087 20,326
1 Qtr/2006
22 29 30
1,216K 761,716 110,584
332,486 11,536
4 Qtr/2005
43 25 34
3,982K 545,806 1,759K
1,601K 75,524
3 Qtr/2005
4 18 28
2,351K 2,115K 177,694
48,674 9,816
2 Qtr/2005
15 14 33
4,233K 2,364K 1,841K
17,234 10,255
1 Qtr/2005
10 26 33
1,929K 1,387K 507,339
22,741 11,580
FINANCIAL INFORMATION
Ms. Blight declined to
provide financial statements or annual sales, therefore the Firm's condition
could not be evaluated. A written inquiry was sent via fax, if she responds the
report will be updated at that time. Outside sources reported the Firm's sales
to be in the CAD$ 1.6 billion range, however management declined to comment.
CURRENT OPERATIONS
NAICS Code : 325411
Medicinal and Botanical Manufacturing
SIC Code : 2833
Number of Employees
3,600
Business Activity
APOTEX INC. is a
manufacturer and marketer of various dosages of generic, over the counter, and
private label pharmaceuticals. The Company is a pharmaceutical manufacturer,
with a focus on developing generic
pharmaceuticals, and also innovative research. The Company is also one
of the top 30 R& D firms in
The heading address is
the Firm's world headquarters and consists of 1,000,000 sqaure feet of office
and manufacturing space.
The Firm also has locations at:
WESTON, ON M9L 2Y6
WESTON, ON M9L 1P7
TEL: 416 741-4256
755
TEL: 514 630-3335
FAX: 514 630-3354
TEL: 604 590-3050
FAX: 604 590-3515
The Firm also has
offices in
PUBLIC RECORD
Statement of Claim:
Defendant APOTEX
INC.
Date
Sep 13, 2005
Plaintiff JAMES
PASHUTINSKI
Court
General
Division
Amount 300,000
Location
Reason Employment
File #
05CV296799
Statement of Claim:
Defendant APOTEX
REALTY INC/IMMEUBLES APOTEX
Date
Apr 07, 2004
Plaintiff LIMEN
MASONRY LIMITED
Court
General
Division
Amount
2,057,723
Location
Reason Monies
Due
File #
CLA04CV266
Statement of Claim
Defendant APOTEX
INC./ETAL
Date Oct
27, 2003
Plaintiff STEVEN
LEDYIT, ETAL
Court General
Division
Amount 200,000
Location
Reason Claims
File # 03CV257695
Statement of Claim:
Defendant APOTEX
INC/ETAL
Date Mar
06, 2003
Plaintiff ATTORNEY
GENERAL OF
Court Queen's
Bench
Amount 12,681,567
Location
File # CI030131988
Statement of Claim
Defendant APOTEX INC
Date Oct
11, 2002
Plaintiff SYNTEX
(
Court General
Division
Amount 5,000
Location
Reason Contract
File # 02CV22071
No bankruptcy petitions
were traced to the Firm, however there are legal actions filed against the Firm
in public. The status is uncertain as no further information is currently
available.
GENERAL COMMENTS
APOTEX INC. is well established with annual
sales in the CDN 1.6 billion. Payments are sometimes late. Several large claims
were reported against the Firm, the status is uncertain as no further
information is currently available.
Collectively the claims
amount to a rather large sum and if unsettled could possibly create some
adverse effect on the financial condition of the firm. The subject is believed
to be responsible for normal business transactions at this time.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)