MIRA INFORM REPORT

 

 

Report Date :

18.01.2011

 

IDENTIFICATION DETAILS

 

Name :

NOVAMED PHARMACEUTICALS

 

 

Registered Office :

3-Mozang Road, Lahore

 

 

Country :

Pakistan

 

 

Year of Establishment :

2004

 

 

Legal Form :

Partnership Concern

 

 

Line of Business :

Manufacture & Marketing of Pharmaceutical Products. Also engaged in import of Pharmaceutical Raw Material, Finished Products

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

Pakistan

b2

b2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

           

Business Name

 

NOVAMED PHARMACEUTICALS

 

 

Full Address       

 

Registered Address

3-Mozang Road, Lahore, Pakistan

                       

Tel #

92 (42) 37239001, 37239002

Fax #

92 (42) 35711243

 

           

Short Description Of Business

 

a.

Nature of Business        

Manufacture & Marketing of Pharmaceutical Products. Also engaged in import of Pharmaceutical Raw Material, Finished Products

b.

Year Established

2004

c.

National Tax #

2395532

 

 

Branches

           

Address

Room No.11, Second Floor Land Mark Plaza, Jail Road, Lahore, Pakistan

Tel #

92 (42) 35712465, 35711243

Fax #

92 (42) 35711243

 

 

Factory Location

 

Address

28-K.M., Ferozepur Road Lahore, Pakistan

Tel #

92 (42) 35272565, 35272566

Fax #

92 (42) 35272566

 

 

Legal Status

 

Subject Concern was established as a Partnership business in 2004

 

 

 

Details of Managing Partner / Partners

 

Names

Nationality

Address

Occupation

Designation

Mr. Muhammad Idrees

 

 

Mr. Sohaib Shafiq

 

 

Mr. Akmal Zia

Pakistani

 

 

Pakistani

 

 

Pakistani

3-Mozang Road, Lahore, Pakistan

 

3-Mozang Road, Lahore, Pakistan

 

3-Mozang Road, Lahore, Pakistan

Business

 

 

Business

 

 

Business

 

Managing Partner

 

Partner

 

 

Partner

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

                        None                                             

           

B.         Associated Companies

 

                                                            - Do -   

 

 

Products

 

(1) Subject Concern is engaged in manufacture & marketing of Pharmaceutical Products. Also engaged in import of Pharmaceutical Raw Material, Finished Products.

 

(2)   It purchases raw material against L/C, D/A basis

 

(3)   It sells against Cash / Credit Terms.

 

(4) Its’ major customers are Distributors, Traders, Pharmacies & Hospitals located in Karachi & Lahore.

 

(5) Subject operates from caption leased factory premises of area measuring   5,000 Sq.Yard. which is situated in industrial area.

 

(6)  Subject employs about 110 persons in its set up.

 

Products

 

ANDIC-K, APOTEX, ARITHRO, AZITRAL, B-LOC, C-DOXIL, CIPROJAN, CITZIN, CLARIN, CLOTINIL, DECLOCINE, DENOL-DM, DIANAC, DINOR, DOPRIL, FER-P, FLURFIN, GETNOV, GLICAM, IBOFEN, INTEFEN, KOF-S, LAPRAZOLE, LINCIN, LIPILOW, LOMED, MAFIC, MAXLOX, N-CLOR, NASTIN, NEOZOLE, NIMSIDE, NUFEX, O-QUINE, O-ZOLE, OFEXIN, OMIXIM, PROMETH, RIBA-C, ROXEN, S-ZOLE, SALCOL, SUPAMOL, TRUSEF, VELOXEN, VINCEF.

 

 

Annual Sales Volume

 

Year
In Pak Rupees

2008 - 2009

90,000,000/- (Estimated)

 

 

Capacity & Production

           

The capacity and production of the concern’s plant is indeterminable as it is multi- product and involves various processes of manufacture.

 

 

Trade Suppliers

(Foreign)

 

(1) M/S. SHENYANG SUNSHINE PHARMACEUTICAL CO. LTD., CHINA.

(2) ASHU INTERNATIONAL, INDIA.

(3) GMP EQUIPMENTS (PVT) LIMITED, INDIA.

 

 

Authorized Distributors

 

Mainly exist at major cities of Pakistan                  

 

 

Bankers

 

(1) Standard Chartered Bank, Pakistan.

(2) Bank Alfalah Limited, Pakistan.

(3) MCB Bank Limited, Pakistan.

(4) KASB Bank Limited, Pakistan.

 

 

 

Memberships

 

·         Lahore Chamber of Commerce & Industry.(LCCI)

·         Pakistan Pharmaceutical Manufacturers Association.(PPMA)

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

           Rs. 86.00

UK Pound

1

           Rs. 135.74

Euro

1

           Rs. 113.81

 

 

Comments

 

Subject Concern was established in 2004 and is engaged in manufacture & marketing of Pharmaceutical Products. Also engaged in import of Pharmaceutical Raw Material, Finished Products. Market reputation is satisfactory. Trade relations are reported as fair. Subject can be considered for normal business dealings at usual trade terms and conditions.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.59

UK Pound

1

Rs.72.31

Euro

1

Rs.60.73

 

 

RATING EXPLANATIONS

 

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

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

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

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

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%)

 

 

 

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.