MIRA INFORM REPORT

Report Date :

25.01.2011

IDENTIFICATION DETAILS

Correct Name :	NOVARTIS CORPORATION
Registered Office :	80 State Street Albany, New York, 12207
Country :	United States
Financials (as on) :	31.12.2009
Date of Incorporation :	15.11.2006
Legal Form :	Corporation for Profit
Line of Business :	Pharmaceutical Products-Wholesale & Manufacturers

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Regular
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)
United States	a1	a1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

GEOPOLITICS - UNITED STATES

POLITICAL DATA	ECONOMIC DATA
Form of Government: Federal Economic Risk: Nil	Currency: USD Branch Situation: Stable

IDENTIFICATION

Ordered as:	Novartis Vaccines & Diagnostics Inc
Address in the order:	1 South Ridgedale Avenue Building 122, East Hanover NJ 07936
Legal Name:	Novartis Corporation
Trade Name:	Novartis Corporaton
Legal Address	80 State Street Albany, New York, 12207(registeres agent address)
Operative Address	1 South Ridgedale Avenue Building 122, East Hanover NJ 07936
Telephone:	+1 (862) 778-8300	ID :	203887
Fax:	+1 (888) 644-8585	Legal Form:	Corporation for Profit
Email:	-	Registered in:	New York
Website:	www.us.novartis.com	Date Created:	1997
Manager:	Joseph Jimenez . CEO	Date Incorporated:	November 15th, 2006
Staff:	30	Stock:	88,575,000
		Value:	Par Value $1.00
Activity:	Pharmaceutical Products-Wholesale & Manufacturers.

BANKS

Name of the Bank	J P Morgan Chase
Name of the Bank	Bank Of America

BUSINESS

HISTORY
	This company was created on 1996.
PRINCIPAL ACTIVITY
	The Novartis Vaccines and Diagnostics Division provides with products to fight vaccine-preventable viral and bacterial diseases. It also creates sophisticated instruments, assays and software to test blood donations for infections.
Brands:
	Agrippal Begrivac Optaflu Focetrtia Fluad
Suppliers:
	Fluvirin Menveo Menjugate Ixiaro Polioral
Operations area:
	National, International, Local
The company imports from Italy, Switzerland
LOCATION
Headquarters
	This company is headquartered at 1 S Ridgedale Avenue # 122 East Hanover, NJ 07936
Comments on location:
	This company is incorporated in New York; However is headquartered in New Jersey.
Branches:
	The company has branches located at: 608 Fifth Ave., New York, NY 10020 701 Pennsylvania Ave. Suite 725 Washington DC 20004 among others.

Shareholders - Manager - Related Companies

Shareholders Parent Company(ies):
	Attaching financial information consolidated from its mother company
Management:
	Mr. Joseph Jimenez MBA, CEO
Related Companies:
	This company is Subsidary of Novartis AG

Financials - COMMERCIAL TRENDS AND FORECAST

The subject is a public company traded at the stock exchange NYSE uncer ticker symbol "NVS". Please find enclosed the financial statements.

Legal Fillings

There are 22 UCC** files listed with the Secretary of State of New York.

Filing Number: 200611781302

Filing Date: 05-04-2006

Filing Jurisdiction: MINNESOTA

Secured Party: BANC OF AMERICA LEASING & CAPITAL, LLC

Debtor: NOVARTIS CORPORATION

Filing Number: 0602025116090

Filing Date: 02-02-2006

Filing Jurisdiction: NEW YORK

Secured Party: BANC OF AMERICA LEASING & CAPITAL, LLC

Debtor: NOVARTIS CORPORATION

Filing Number: 0402045090866

Filing Date: 02-04-2004

Filing Jurisdiction: NEW YORK

Secured Party: FORSYTHE/MCARTHUR ASSOCIATES, INC.

Debtor: NOVARTIS CORPORATION

Filing Number: 01054675

Filing Date: 03-21-2001

Filing Jurisdiction: NEW YORK

Secured Party: WOMACK MATERIAL HANDLING SYSTEMS, INC.

Debtor: NOVARTIS CORPORATION

Filing Number: 0708240684062

Filing Date: 08-24-2007

Filing Jurisdiction: NEW YORK

Secured Party: SHRINK PACKAGING SYSTEMS CORP

Debtor: MCLAREN HART, INC.

There were 150 legal filings found for this location in which we can include:

Case Type: Gender Discrimination

Company: Novartis

Among others.

THE COMPANY IS NOT LISTED ON THE OFAC LIST.*

For information:

* The Specially Designated Nationals (SDN) List is a publication of OFAC which lists individuals and organizations with whom United States citizens and permanent residents are prohibited from doing business.

** The Uniform Commercial Code (UCC) is one of a number of uniform acts that have been promulgated in conjunction with efforts to harmonize the law of sales and other commercial transactions in all 50 states within the United States of America.

The UCC deals primarily with transactions involving personal property (movable property), not real property (immovable property).

It allows a creditor to notify other creditors about a debtor’s assets used as collateral for a secured transaction by filing a public notice (financing statement) with a particular filing office.

The Uniform Commercial Code Bureau files and maintains on financial obligations (including IRS liens) incurred by individuals (in business as a sole proprietor), business entities and corporations.

Rating

Local credit bureau gave a Low credit rate. The company is in Good Standing. This means that all local and federal taxes were paid on due date.
Final Opinion
	This company has been in business for 13 years. It has a staff of 100.000 (30 at this location) which makes it a large sized company. There were legal filings found for this company. Due to several lawsuits against the Mother company, and this specific company. We strongly suggest working with GUARANTEES.

SUMMARY

FINANCIAL SUMMARY		DEBT COLLECTIONS AND PAYMENTS
Profitability	CORRECT	Public Records	YES
Indebtedness	N.A.	Payments	REGULAR
Cash	N.A.

APPENDIX

Person Interviewed
	receptionist
Comments
	Refused to provide us with information due to confidentiality reasons.

Income Statement

View: Annual Data

All numbers in thousands

Period Ending		Dec 31, 2009	Dec 31, 2008	Dec 31, 2007
Total Revenue		45,103,000	42,584,000	38,947,000
Cost of Revenue		12,179,000	11,439,000	11,032,000
Gross Profit		32,924,000	31,145,000	27,915,000
	Operating Expenses
	Research Development	7,469,000	7,217,000	6,430,000
	Selling General and Administrative	15,473,000	14,964,000	13,259,000
	Non Recurring	-	-	-
	Others	-	-	-
	Total Operating Expenses	-	-	-
Operating Income or Loss		9,982,000	8,964,000	8,226,000
	Income from Continuing Operations
	Total Other Income/Expenses Net	198,000	784,000	(502,000)
	Earnings Before Interest And Taxes	10,473,000	9,748,000	7,724,000
	Interest Expense	551,000	249,000	237,000
	Income Before Tax	9,922,000	9,499,000	7,487,000
	Income Tax Expense	1,468,000	1,336,000	947,000
	Minority Interest	-	-	-
	Net Income From Continuing Ops	8,454,000	8,163,000	6,540,000
	Non-recurring Events
	Discontinued Operations	-	70,000	5,428,000
	Extraordinary Items	-	-	-
	Effect Of Accounting Changes	-	-	-
	Other Items	-	-	-
Net Income		8,454,000	8,233,000	11,968,000
Preferred Stock And Other Adjustments		-	-	-
Net Income Applicable To Common Shares		$8,454,000	$8,233,000	$11,968,000

Balance Sheet

View: Annual Data

All numbers in thousands

Period Ending		Dec 31, 2009	Dec 31, 2008	Dec 31, 2007
Assets
Current Assets
	Cash And Cash Equivalents	2,894,000	2,038,000	5,360,000
	Short Term Investments	14,555,000	4,079,000	7,841,000
	Net Receivables	8,310,000	8,573,000	8,504,000
	Inventory	-	5,792,000	5,455,000
	Other Current Assets	2,102,000	399,000	270,000
Total Current Assets		33,691,000	20,881,000	27,430,000
Long Term Investments		17,791,000	18,894,000	10,573,000
Property Plant and Equipment		14,075,000	13,100,000	12,633,000
Goodwill		12,039,000	11,285,000	11,110,000
Intangible Assets		10,331,000	9,534,000	10,139,000
Accumulated Amortization		-	-	-
Other Assets		2,963,000	182,000	-
Deferred Long Term Asset Charges		4,615,000	4,423,000	3,567,000
Total Assets		95,505,000	78,299,000	75,452,000
Liabilities
Current Liabilities
	Accounts Payable	5,828,000	6,711,000	5,627,000
	Short/Current Long Term Debt	5,313,000	5,186,000	5,117,000
	Other Current Liabilities	8,329,000	4,607,000	5,897,000
Total Current Liabilities		19,470,000	16,504,000	16,641,000
Long Term Debt		13,082,000	2,178,000	677,000
Other Liabilities		5,491,000	5,036,000	4,272,000
Deferred Long Term Liability Charges		-	4,144,000	4,466,000
Minority Interest		75,000	-	-
Negative Goodwill		-	-	-
Total Liabilities		38,118,000	27,862,000	26,056,000
Stockholders' Equity
Misc Stocks Options Warrants		-	-	-
Redeemable Preferred Stock		-	-	-
Preferred Stock		-	-	-
Common Stock		957,000	959,000	990,000
Retained Earnings		56,562,000	49,468,000	-
Treasury Stock		(132,000)	(139,000)	(175,000)
Capital Surplus		-	-	-
Other Stockholder Equity		-	149,000	48,581,000
Total Stockholder Equity		57,387,000	50,437,000	49,396,000
Net Tangible Assets		$35,017,000	$29,618,000	$28,147,000

Income Statement

View: Quarterly Data

All numbers in thousands

Period Ending
Total Revenue
Cost of Revenue
Gross Profit
	Operating Expenses
	Research Development
	Selling General and Administrative
	Non Recurring
	Others
	Total Operating Expenses
Operating Income or Loss
	Income from Continuing Operations
	Total Other Income/Expenses Net
	Earnings Before Interest And Taxes
	Interest Expense
	Income Before Tax
	Income Tax Expense
	Minority Interest
	Net Income From Continuing Ops
	Non-recurring Events
	Discontinued Operations
	Extraordinary Items
	Effect Of Accounting Changes
	Other Items
Net Income
Preferred Stock And Other Adjustments
Net Income Applicable To Common Shares

Balance Sheet

View: Annual Data | Quarterly Data

All numbers in thousands

Period Ending
Assets
Current Assets
	Cash And Cash Equivalents
	Short Term Investments
	Net Receivables
	Inventory
	Other Current Assets
Total Current Assets
Long Term Investments
Property Plant and Equipment
Goodwill
Intangible Assets
Accumulated Amortization
Other Assets
Deferred Long Term Asset Charges
Total Assets
Liabilities
Current Liabilities
	Accounts Payable
	Short/Current Long Term Debt
	Other Current Liabilities
Total Current Liabilities
Long Term Debt
Other Liabilities
Deferred Long Term Liability Charges
Minority Interest
Negative Goodwill
Total Liabilities
Stockholders' Equity
Misc Stocks Options Warrants
Redeemable Preferred Stock
Preferred Stock
Common Stock
Retained Earnings
Treasury Stock
Capital Surplus
Other Stockholder Equity
Total Stockholder Equity
Net Tangible Assets

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.58
UK Pound	1	Rs.72.79
Euro	1	Rs.62.01

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

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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