MIRA
INFORM REPORT
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Report Date : |
22.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
PURZER PHARMACEUTICAL CO LTD |
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Registered Office : |
12FL-2, 1 Kuang Fu South Rd Sungshan Dist Taipei City 105 |
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Country : |
Taiwan |
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Date of Incorporation : |
07.09.1988 |
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Com. Reg. No.: |
23045916 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Research and Development of Pharmaceutical Products. Importing of Raw Materials for
in-house OEM Production |
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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Maximum Credit Limit : |
USD 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
PURZER
PHARMACEUTICAL CO LTD
12FL-2, 1 KUANG FU SOUTH RD
SUNGSHAN DIST TAIPEI CITY 105, TAIWAN
TEL: 886- 2-27660887 FAX: 886-2-27615775
EXECUTIVE SUMMARY
INCORPORATION DATE : SEPTEMBER 7, 1988
REGISTRATION NO. :
23045916
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. CHAO-HSIAO WANG (PRESIDENT)
STAFF STRENGTH :
192
CAPITAL :
US$ 13,793,103
BUSINESS LINE : MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2007)
EQUITIES :
N/A (AS OF DEC. 31, 2007)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 100,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
TWD 32.13624 = US$1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
TWD –Taiwan New Dollars
*Company History*
===============
1988 -
Established company in Taipei.
- Constructed factory in Taoyuan.
1990 - Launched
first product in the market.
1996 -
Established Research & Development to collaborate with various research
institutes.
1997 -
Launched "Calcinin" (Calcitonin Injection).
1998 - Completed IND registration in Europe
(Phase One).
3 September, 1999 - Completed
Phase 1 of human clinical trial in UK for its anti-hypertensive drug.
2001 -
Passed cGMP first stage inspection.
*Licenses & Permits*
================
(1)
License number : 9962233500
Date issued : 24 November, 1989
Issuing authority : Industrial Development Bureau, MOEA
Type of license : Factory license
(2)
License number : N/A
Year issued : 2001
Issuing authority : N/A
Type of license : Obtained product registration in other
four (4) countries.
*Office & Facilities*
===============
Size : 360sq. meters (Approx)
Location : Center Business District (CBD)
Property status : Rented
Type of building : Commercial
Building
*Factory Contact Details*
==================
Address : Kuanyin
Industrial Park 26 Ta Tung 1st Rd
Zip : 328
Suburb : Kuanyin
Hsiang
State : Taoyuan
Hsien
Tel : [+886]
3-4839641
*Capital Details*
=============
Initiatial authorized capital :
NTD 264,268,980.00
Authorized capital increase :
NTD 420,000,000.00
Paid-up capital
: NTD 349,554,360.00
*Factories, Size & Locations*
=======================
Size :
4,584 sq. meters (Approx)
Location :
Taoyuan Hsien
Property status : Owned by
PURZER PHARMACEUTICAL CO LTD
Type of building : Industrial Building
*Corporate & Organization Structure*
============================
A medium sized company operated and managed by an experienced team of
professionals.
Maintains the following teams:
1. Research & Development
- Develops different
technology preparation for the production of various pharmaceutical products.
2. Sales
- Divided into the
following teams depending on target markets with breakdown of employees as
follows:
No of personnel Team
(Approx)
---------------------- ---------
36 Hospitals
33 Small scale
hospitals/clinics
24 Drug stores
*Industry Ranking*
===============
Generally regarded as one of the Top 5000 Companies in Manufacturing
Industry of Taiwan.
Details of rank are as follows:
Year Rank
------ -------
2007 4079
*Sales Ranking*
============
Ranked by Information Medical Statistics (IMS) as one of the Top 200
local GMP pharmaceutical manufacturers in terms of sales.
Details of rank as follows :
Year Rank
------- -------
1994 10
1998 7
1999 6
2000 5
*Awards*
========
(1)
Award : National Award
for the Whole Manufacturing Plant of the Biotech & Healthcare Products
Awarded by : N/A
Date : November
1999
(2)
Award : National
Quality Award for Unique Product Production
Awarded by : N/A
Date : November
1999
Details : Won such
award for its "Calcinin" (Calcitonin Salmon) injection.
(3)
Award : National
Quality Award for Unique Product Production
Awarded by : N/A
Date : November
2001
Details : Won such
award for its "SIMEGEL" (Simethicone, Ca carbonate, Mg hydroxide)
Composite Tablet.
SC is not known to host website of its own at present.
For the past two years there is no record of litigation.
*Major Shareholders*
===============
Total number of shareholders: 7
Total number of shares: 15,567,178
Shareholders Country Number Amount %
CHIA HUI INVESTMENT Taiwan
6,696,083.00 n/a 43.01
CO LTD
Mr. Hsiu-kang Chang Taiwan 4,670,784.00 n/a 30.00
Mr. Min-sheng Yang Taiwan 1,033,090.00 n/a 6.64
Mr. Hsiu-chi Chang Taiwan 889,323.00 n/a 5.71
Mr. Tun-hui Hung Taiwan 828,148.00 n/a 5.32
Mr. Chi-heng Nieh Ku Taiwan 726,326.00 n/a 4.67
Mr. Yung-chin Lin Taiwan 723,424.00 n/a 4.65
Management: Ms. Lorna Cheng,
Executive
Mr. Hsiu-kang Chang, General Manager
Mr. Chao-hsiao Wang, President
Name Nationality
Job Description Dept. / Division
Ms. Lorna Cheng Taiwanese
Executive Sales
Mr. Hsiu-kang Chang Taiwanese General Manager -
Mr. Chao-hsiao Wang Taiwanese President -
*COMPANY DIRECTORS*
=====================
1
Name : Mr. Hsiu-chi Chang
Nationality : Taiwanese
2
Name : Mr. Hsiu-kang Chang
Nationality : Taiwanese
3
Name : Mr. Hsueh-chia Chang
Nationality : Taiwanese
4
Name : Mr. Kui-hui Lee
Nationality : Taiwanese
*Main Products & Services*
=====================
Specializes in the following areas of work:
1. Research and development of pharmaceutical products.
2. Importing of raw materials for in-house OEM production.
3. Manufacturing a wide range of pharmaceutical products.
4. Selling to both domestic and international markets.
Specializes in manufacturing and marketing different pharmacological
mechanisms for the following:
- Alimentary system
- Cardiovascular system
- Respiratory system
- Hormones
- Antibiotics
- Metabolism
- Vitamins
- Dematologicals
Manufactures pharmaceutical products under the following brand names:
Brand Name
Chemical Name
----------------
---------------------
ACETAL
Acetaminophen
ADENOZER
Adenosine
ANGINAR
Dipyridamole
ASDOL
Cefamandole Nafate
BUTAMINE
Dobutamine
CALCININ
Calcitonin Salmon
CAMAZOLE
Clotrimazole
CAMINE
Gucosamine Sulphate D9 (Crystalline)
CAPTROL
Captopril
CEBID
Cefoperazone (Sodium)
CEPHAZER Cephapirin (Sodium)
CEXITIN
Cefoxitin Sodium
CHEF
Ceftriaxone (Disodium)
CLEO
Tobramycin (Sulfate)
CLOFEN
Diclofenac Sodium
CORTEMA ENEMA Hydrocortisone
CYCLIN
Minocycline (HCL)
DANALOL
Danazol (=Cyclomen)]
DEFEN
Ketotifen (Fumarate)
DUOCER
Cimetidime
EMETROL Domperidone
FLUCIL
Acetylcysteine (mucolytic suppressant)
FLUENE
Fluconazole
GENTADERM Gentamicin
(Sulfate) Betamethasone
GIMOVE
Cisapride (Monohydrate)
GLUBIN Metformin HCL
GLUTROL
Glipizide
ISOCORT
Isoconazole Nitrate 10mg Diflucortolone Valerate 1mg
ISOGEN
Isoconazole Nitrate
KEPRO
Ketoprofen
LOVA Lovastatin
MAGACID
Magaldrate
MEPHAN
Dextromethorphan HBR
METHACIN
Indomethacin
ORALOG
Triamcinolone (Acetonide)
PURFEN
Ibrupofen
PURSIN
Ibuprofen Lysine
RECEF
Cephradine (Monohydrate)
RECEF-A
Cephradine
REFEXIN
Cephalexin (Monohydrate)
SENIN
Ginkgo Biloba Extract 40 mg
SEZOLIN
Cefazolin (Sodium)
SIMEGEL
Simethicone 20mg; Calcium carbonate 280mg; Magnesium hydroxide 128mg
SOCAINE
Acetaminophen 450mg; Chlormezanone 100mg
TENOLOL
Atenolol
TERASIN
Terazosin (AS HCl 2 Water) 2mg
TOPSIN
Tobramycin
UBITEN
Ubidecarenone
VICIN
Clindamycin (HCLl Hydrate)
VITAMINE C Ascorbic
acid
XICAM Piroxicam
YUTODIN
Ritodrine HCl
Breakdown of sales as per target market :
Market Percentage (%)
---------- --------------------
Hospitals 50.00
Small scale hospitals/clinics 30.00
Drug stores 20.00
Products: Acetaminophen
Alimentary system
drugs
Analgesics
Anti-asthmatic
drugs
Anti-cancer
drugs
*Brand*
======
Calcinin
Chef
Glutrol
PURZER
SIMEGEL
*Payment Terms*
=============
Sales
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Local : Cash
30-90 days credit
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchase
------------
Local : 30-90 days credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Open account /DA
terms with settlement using Telegraphic/Transfer (T/T)
*Detailed Product Specifications*
==========================
(1)
Product : Zinc
Sulfadiazine
Indication : Treatment for
burned skin
(2)
Product : Salmon
Calcitonin Injection
Brand name : CALCININ
Indication : Treats osteoporosis,
Paget's disease and hypercalcemic crisis
*Quality Certification*
==================
(1)
Type of certification : Good
Manufacturing Practice (GMP)
Year of certification : 1990
(2)
Type of certification : ISO 9001:2000
Issuing authority : BSi
Year of certfication : 2001
(3)
Type of certification : cGMP
*Patents*
========
(1)
Patent number
: N/A
Year of registration :
1992
Other details
: Obtained international Cephaloporines patent.
(2)
Patent number :
N/A
Type of patent :
Process patent for 3,7-substituted 7-Aminocephalosporanic Acid derivatives in
producing some injection forms of Cephalosporin antibiotics.
Countries of registration : Taiwan, South Korea, E. C. and USA
(3)
Patent number :
N/A
Countries of registration : USA, Europe, Japan, Taiwan and China
Product
: Anti-hypertensive drug
(4)
Also obtained a compound patent for Zinc Sulfadiazine.
(5)
Patent number :
5142042
Date of registration : 25
August, 1992
Name
: Process for preparing well crystallized alkali metal salts of 3,
7-substituted 7-aminocephalospo
(6)
Patent number :
6136030
Date of registration : 24
October, 2000
Name
: Process for preparing porous bioceramic materials
(7)
Patent number :
7053047
Date of registration : 30
May, 2006
Name : Cyclic pentapeptides and their
preparation
(8)
Patent number :
7129619
Date of registration : 31
October, 2006
Name
: Ultrasonic nebulizer for producing high-volume sub-micron droplets
*Competitors*
===========
The following locally based companies supply similar range of products:
- ELI LILLY & CO (TAIWAN) INC
- GLAXOSMITHKLINE FAR EAST BV TAIWAN BRANCH (NETHERLANDS)
- WEIDAR CHEMICAL & PHARMACEUTICAL CO LTD
- YUNG SHIN PHARMACEUTICAL INDUSTRY CO LTD
- BRISTOL-MYERS SQUIBB (TAIWAN) LTD
- CENTURY CHEMICAL & PHARMACEUTICAL CO LTD
- CHAING CHOEN PHARMACEUTICAL CO LTD
- CHIAI SHOU CHEMICAL & PHARMACY CO LTD
*Domestic Customers*
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Direct sale to consumer through hospital and pharmacy.
*Local Distribution Network*
=======================
100% of the annual turnover is attributed to local sales.
*International Trade Activity*
=======================
1996 - Started penetrating the
international market.
1997 - Exported
"Chef" (Ceftriaxone Injection) to Pakistan.
1998 - Penetrated Japan
market.
- Exported
"Glutrol" (Glipzide Tablet) to China.
NOTE:
---------
The figures listed above for export, only represent the shipments made directly
by the company.
It is understood the firm also exports via locally based trading houses
which export under their own corporate name.
The "export" figures listed above, are not actual products being
exported by PURZER, but a small percentage of returned goods manufactured by
the overseas supplier.
*Export Markets*
==============
Products are also exported to Southeast Asia and the Far East.
*(Subsidiaries, Joint-ventures & Affiliates)
============================
Company Name :
HEALTHBANKS BIOTECH CO LTD
Address :
3Fl Morrison Plaza 25-1 Jen Ai Rd Section 4 Ta-an Dist Taipei City 106 Taiwan
Country :
Taiwan
Relationship :
Affiliate
Legal Form :
Private company with limited liability
Company Type : Trader
Industry :
Medical Equipment & Pharmaceutical
Company Name :
MISSIONCARE CO
Address :
Jingguo Complex 168 Jinguo Rd Taoyuan City 330 Taoyuan Hsien Taiwan
Country :
Taiwan
Relationship : Affiliate
Legal Form :
Private company with limited liability
Company Type : Trader
Industry :
Medical Equipment & Pharmaceutical
*Strategic Partners & Alliances*
=========================
(1)
Type of alliance : Joint product
development
Parties involved : National
Science Council (NSC) and National Taiwan University (NTU), Pharmacy Department
Other details : The
company co-develops a new anti-hypertension drug DL-017 with National Science
Council (NSC)
(2)
Type of alliance : Joint product
development
Date of alliance : 17 November,
1999
Parties involved : TAIWAN
FERTILIZER CO LTD
Other details : TAIWAN
FERTILIZER CO LTD invested more than NT$ 100 million to develop functional
health food with the company. The joint-venture partnership involves production
of food products through fermentation wherein PURZER will be in-charge in the
development of lacto bacillus.
(3)
Maintains partnership with the following research institutes regarding
product and technology development:
- Union Chemical Laboratories of Industrial Technology Research
Institute
- Development Center for Biotechnology
- Taipei Medical College
- National Taiwan University Medical College
PAYMENT RATING : 3 OBTAINED SCORES :
69
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Implication |
Implications |
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1 |
Scores 85–100 |
Excellent |
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2 |
Scores 75 – 84 |
Above Average |
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3 |
Scores 50 – 74 |
Average |
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4 |
Scores 35 – 49 |
Fair |
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5 |
Scores 15 – 34 |
Below Average |
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6 |
Scores 01 – 14 |
Poor |
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NR |
No Data |
No Data |
The rating indicates the
payment pattern of SC based upon our Payment Database, comments from suppliers
of SC, information from banks (if available), as well as industrial sources.
Dealings on open terms may be possible for
MODERATE amounts depending on individual judgement experience.
As a private limited company there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
Although, financial summaries were obtained for reference.
*BANK DETAILS*
===============
Bank Name : HUA NAN COMMERCIAL BANK LTD
Branch : Sungshan Dist, Taipei City
Branch Address : 38 Chung King South Rd Section 1 Chungcheng Dist Taipei
City 100 (Head Office)
SWIFT Code : HNBKTWTP
*Financial Summary (Currency: U.S. $'s)
==============================
Year Sales Assets Net Income
1997 $370,000,000.00 $0.00 $0.00
1998 $400,000,000.00 $0.00 $0.00
2007 $9,656,004.83 $1,780,325.89 $633,675.32
*Int´l Trade Activity (Currency: U.S. $'s)
===============================
Year Imports Exports Total
2005 $620,000.00 $60,000.00 $680,000.00
2006 $380,000.00 $50,000.00 $430,000.00
2007 $350,000.00 $36,000.00 $386,000.00
SC is considered medium-sized in its line with a development history of
20 years. The above credit amount appears to be beyond SC’s capacities, while a
credit line up to USD 100,000 is recommended.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 2833 Medicinals
and botanicals
Exporting 2834 Pharmaceutical
preparations
Exporting 5122 Drugs/Druggists'
Sundries
Manufacturing 2833 Medicinals
and botanicals
Manufacturing 2834 Pharmaceutical
preparations
Manufacturing 5122 Drugs/Druggists'
Sundries
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3000 Pharmaceutical
products
Exporting 3002 Human
blood; animal blood; antisera, vaccines etc
Exporting 3002200000 Vaccines for human medicine
Exporting 3004 Medicaments,
mixed or not, in dosage etc form
Exporting 3006 Pharmaceutical
goods (specified sterile prod etc.)
Manufacturing 2924293910 Acetaminophen
Manufacturing 2934301500 Antidepressants,
tranquilizers and other psychotherapeutic agents
Manufacturing 2936 Provitamins
and vitamins & derivatives & intermixes
Manufacturing 2936270000 Vitamin
c (ascorbic acid) and its derivatives
Manufacturing 2937210020 Hydrocortisone
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturer Pharmaceutical
injectable
Manufacturer Antibiotic
preparations
Manufacturer Cardiovascular
drugs
Manufacturer Anti-cancer
drugs
Manufacturer Biotechnology
products
Manufacturer Ascorbic
acids
Manufacturer Cephradine
Manufacturer Hydrogenated,
cortisone
Manufacturer Ophthalmological
drugs & suppl
Manufacturer Cold drugs
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Asia / Pacific Exporting,Importing
Europe Importing
South America Exporting
China Exporting,Importing
India Importing
Italy Importing
Japan Exporting
Pakistan Exporting
South Korea Importing
USA Exporting
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.40 |
|
UK Pound |
1 |
Rs.83.15 |
|
Euro |
1 |
Rs.65.74 |
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)