MIRA INFORM
REPORT
|
Report Date : |
31.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
CORPORACION INFARMASA S.A. |
|
|
|
|
Registered Office : |
Nicolas Ayllon 3130, Ate, Lima |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
25.06.1961 |
|
|
|
|
Com. Reg. No.: |
File card 210, Pages 193, Volume 210, Entry 1 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture, Import, Representation
and Sale of generic pharmaceutical products in general |
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 |
|
Maximum Credit Limit : |
US $1,050,000 |
|
Status : |
Satisfactory |
|
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) |
|
|
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
IDENTIFICATION
|
CORRECT
COMPANY NAME |
:
|
CORPORACION INFARMASA S.A. |
|
TRADE
NAME |
:
|
N/A" |
|
TAXPAYER
REGISTRATION |
:
|
RUC 20100102332 |
|
MAIN
ADDRESS |
:
|
Nicolas Ayllon 3130, Ate |
|
CITY |
:
|
Lima |
|
DEPARTMENT/STATE |
:
|
Lima |
|
COUNTRY |
:
|
PERU |
|
TELEPHONE |
:
|
3483300 |
|
FAX |
:
|
3483400 |
|
WEB
SITE |
:
|
SUMMARY
INCORPORATION :
1961
LAST CAPITAL : S/.46,653,565 Nuevos Soles
SHAREHOLDERS ' EQUITY : S/. 102,009,000.= Nuevos Soles
(As of 31.12.2008)
SALES :
147,067,000.00
BUSINESS TREND :
Stable, unchanged
EMPLOYEES :
614
PAYMENTS :
Usually to terms/good
CHIEF EXECUTIVE :
CABALLERO MALDONADO, LUIS ALBERTO
Disposition :
TOTAL (Full information and figures).
LEGAL
BACKGROUNDS
|
LEGAL
ESTATUS |
:
|
Joint-Stock Company |
|
DATE
OF INCORPORATION |
:
|
25JUN1961 |
|
START
OF OPERATIONS |
:
|
28.06.1961 |
|
REGISTERED
IN |
:
|
Lima |
|
NOTARY
OFFICE |
:
|
Guillermo Del Solar |
|
DURATION |
:
|
Perpetual |
|
REGISTRATION |
:
|
File card 210, Pages 193,
Volume 210, Entry 1. |
|
INITIAL
CAPITAL |
:
|
N/A |
|
CURRENT
PAID-IN CAPITAL |
:
|
S/.46,653,565 Nuevos Soles |
|
LAST
CAPITAL INCREASE |
:
|
December 2007 |
|
SHAREHOLDERS'
EQUITY |
:
|
S/. 102,009,000.= Nuevos Soles
(As of 31.12.2008) |
|
TYPE
OF SHARES |
:
|
Registered |
|
LISTED AT STOCK EXCHANGE |
:
|
No |
|
SHARE
VALUE |
:
|
S/.1.= Nuevo Sol |
|
CURRENT
EXCHANGE RATE |
:
|
S/.2.77 per USD1 |
|
MEMBERSHIP |
:
|
N/A |
COMMENTS
.-
According to SUNAT (National Tax Administration),
Subject Company is included in the General Sales Tax Withholding Agent (R.S. 037-2002) as from June 1, 2002.
HiSTORY
CORPORACION INFARMASA S.A. is a consortium that was
established from the strategic union between two large pharmaceutical companies
operating in Peru - Laboratorios Magma and Instituto Sanitas S.P.S.A.
By the early 40s, Instituto Sanitas S.P.S.A. was
founded. Its industrial plant had over 20,000 square meters and it would become
one of the best installed pharmaceutical industries in Latin America.
In 1946 Laboratorios Magma and Instituto Químico
Biológico S.A (BIOSA) were founded. At
the beginning, the first one was engaged in the production of galenic products,
while BIOSA, was engaged in the production of biological products. After the merger of both companies,
Laboratorios Magma installed a plant to manufacture penicillin products, which
is considered to date one of the leading industries in the antibiotics
market. Some years later, in 1953, one
of the most prestigious European laboratories, Farmitalia Carlo Erba, began
operations in Peru. In 1975, a plant to
manufacture pharmaceutical products was installed, establishing Instituto
Farmacéutico Peruano - IFARPE (Peruvian Pharmaceutical Institute) which was
acquired in 1991. Two years later,
IFARPE and Magma and Sanitas would become Infarmasa Group.
Thus in 1997Corporación Infarmasa was established
on one of the largest pharmaceutical infrastructures in the local market, which
allows it to have two impressive production plants equipped with the most
modern of the pharmaceutical industrict: In the district of Miraflores, the
plant for producing Penicilinic Products, and in the district of Ate, the plant
for producing Non Penicilinic Products, avoiding thus any cross contamination
risk and meeting international standards of Good Manufacturing Practices.
After Corporación Infarmasa was established, Línea
Comercial LLG was established. The latter is a division offering generic
medicines made with the highest quality standards.
In 2008 CORPORACION INFARMASA launched its new
line, ANNEXA.
DIRECTORS
/ EXECUTIVES / SHAREHOLDERS
|
FULL
NAMES / COMPANY NAME |
TITLE |
OWNERSHIP
% |
|
CABALLERO MALDONADO, LUIS
ALBERTO |
General Manager |
4.5580% |
|
MUJICA VALENCIA, CARLOS
DANIEL |
Operations Manager |
|
|
GOMEZ SABA, ALEJANDRO
ANTONIO SALOMON |
Admin. & Finance Manager |
|
|
LEYVA BELLINA, ENRIQUE |
Commercial Manager |
|
|
GUERRA MEJIA, ABELARDO |
General Accountant |
|
|
CORNEJO CEBASTIANI, GUIOMAR |
Chief Financial Officer |
|
|
MILENTON INVERSIONES S.L. |
Parent Co. |
94.5356% |
WHO
IS WHO?
CABALLERO
MALDONADO, LUIS ALBERTO
NATIONALITY : Peruvian
BORN : 12SEP1945
DOC OF IDENT. : DNI 10477552
BACKGROUND INFORMATION .-
President of the National Association of
Pharmaceutical Industries - ADIFAN.
Associated
as per our database to :
|
Company |
Position |
Tax.
Reg. |
Country |
|
EDITORIAL GRAFICA OFFSET
ACACIA S.A. |
|
20101191380 |
PERU |
MUJICA
VALENCIA, CARLOS DANIEL
NATIONALITY : Peruvian
BORN : 16FEB1970
DOC OF IDENT. : DNI 09534032
GOMEZ
SABA, ALEJANDRO ANTONIO SALOMON
NATIONALITY : Peruvian
BORN : 22OCT1970
DOC OF IDENT. : DNI 07260728
BACKGROUND INFORMATION .-
President of the Peruvian Association of Finance
(APEF).
Professor of Universidad del Pacifico -
Post-Graduate Course.
Contributor of Diario Gestión.
Associated
as per our database to :
|
Company |
Position |
Tax.
Reg. |
Country |
|
UNIVERSIDAD DEL PACIFICO |
|
20109705129 |
PERU |
Subject
is reported to participate or have participated in :
|
Company |
Position |
Country |
|
ASOCIACION PERUANA DE FINANZAS |
|
PERU |
RELATED
COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER
|
COMPANY NAME |
COUNTRY |
AX. REG. |
RELATION |
|
EDITORIAL GRAFICA OFFSET
ACACIA S.A. |
PERU |
20101191380 |
Related |
|
EUROPEAN CHEMICALS S.A.C. |
PERU |
20505564767 |
Related |
|
MILENTON INVERSIONES S.L. |
SPAIN |
|
Parent Co. |
BUSINESS
MAIN
ACTIVITY .-
Manufacture, import, representation and sale of
generic pharmaceutical products in general.
Products sold by Subject: Antihistamines and
analgesics (Sanitas line); antibiotics (Magma line), medicines.
Magma line:
Aremil, Ceriflix, Ciproflox, Diclosal, Mucodilat, Clindacin, Neurocol,
Notidern, Oleogen, Zoprax, Redex.
Sanitas line: Antalgina, Apacil, Aseptil Rojo,
Biogen, Bronco Penamox, Carbosan, Cloro Alegan, Cloromisan.
CORPORACION INFARMASA also provides inbond assembly
(maquila) service to third parties. The service includes the following:
- Manufacture until finished product
- Only bulk manufacture
- Only product packaging
IMPORT : Yes
Argentina,
Australia, Austria, Brazil, China, Colombia,Cuba, Zcech Republic,
France,
Germany, Italy, Korea, Korea, Mexico, New Zealand, Spain.
Annual Imports in US$ (CIF) :
Year
Monto
2010 1,535,685.00
2009 9,194,765.00
2008 11,463,358.00
2007 8,125,586.00
2006 8,526,652.00
2005 7,169,318.00
EXPORT : Yes
China,
Cuba, Ecuador, Germany, USA, Venezuela.
Annual Exports in US$ (FOB) :
Year
Monto
2010 2,843,910.00
2009 4,851,791.00
2008 3,836,792.00
2007 4,209,450.00
2006 1,989,945.00
2005 2,651,914.00
|
%
CASH SALES/METHOD |
:
|
8% |
|
%
CREDIT SALES/TERMS |
:
|
92% (45-day invoices and/or
drafts pay.at 90 days) |
|
%
FOREIGN SALES (COUNTRIES) |
:
|
15% |
|
%
DOMESTIC PURCHASES |
:
|
40% |
|
%
FOREIGN PURCHASES |
:
|
According to SUNAT (National
Tax Administration), Subject Company is included in the General Sales Tax
Withholding Agent (R.S. 037-2002) as
from June 1, 2002. |
|
SELLING
TERRITORY |
:
|
Domestic market - 85% |
|
EMPLOYEES |
:
|
614 |
LOCATION
.-
|
Premises |
:
|
Own |
|
Monthly
Amount |
:
|
N/A |
|
Time
Occupied |
:
|
N/A |
|
Area |
:
|
12,000 m2 |
|
Floors |
:
|
2 |
|
Equipment |
:
|
Suitable for its line of
business |
|
Condition |
:
|
Regula; premises located at
industrial area. |
|
Use |
:
|
Registered domicile, Plant for
non-penicillinic products and Warehouses. |
Remarks and other Premises .-
Plant No.2 and Warehouses (manufacture of
penicillin products): Av. Del Ejercito 490, Miraflores -
Lima 18 (Own premises). Telephone: (511) 4414483.
COMMENTS .-
Subject also imports from Switzerland, Turkey,
United Kigdom, USA, Venezuela.
Major Distributors:
- DISTRIBUIDORA DECO S.A.
- QUIMICA SUIZA S.A.
- PROQUIFARMA S.A., among others.
Main Clients:
- QUIMICA SUIZA S.A.
- DISTRIBUIDORA DECO S.A.
- PROQUIFARMA S.A.
Main Competitors:
- Farmindustria S.A.
- Laboratorios Ac Farma S.A.
- Corporacion Medco S.A.C.
- Hersil S.A. Laboratorios Industriales
Farmaceuticos
- Medifarma S.A.
- Farmaceutica Del Pacifico S.A.C.
- Agrovet S.A.
- B.braun Medical Peru S.A.
- Laboratorios Trifarma S.A.
- Cipa S.A.
- Instituto Quimioterapico S.A.
- Laboratorios D.A.Carrion S.A.C.
- Cifarma S.A.
- Laboratorios Induquimica S.A.
- Laboratorios Unidos S.A.
In June 1998, Subject Company was granted the ISO
9001:2002 Certification.
Besides, it has the GMP (Good Manufacturing
Practices) certification.
FINANCIAL
INFORMATION
|
Interviewee(s) |
:
|
Boris Ocares |
|
Position(s) |
:
|
Assistant Accountant |
|
Cooperation |
:
|
TOTAL (Full information and
figures). |
|
Information
Provided |
:
|
Boris Ocares updated
commerical information and verified other already existing data. As for the financial
statements, he provided figures from the last Annual Balance Sheet as of 31/12/2009
(12 months), expressed in Nuevos Soles. At the same time, we consulted external
sources where we could obtain some supplementary information of interest. |
BALANCE
SHEET
|
BALANCE SHEET DATE |
31DEC2009 |
31DEC2008 |
31DEC2007 |
31DEC2006 |
|
PERIOD |
12
months |
12
months |
12
months |
12
months |
|
EXCHANGE RATE PER US$ |
2.88 |
3.12 |
2.98 |
3.20 |
|
CURRENCY |
Nuevos
Soles |
Nuevos
Soles |
Nuevos
Soles |
Nuevos
Soles |
|
ASSETS |
|
|
|
|
|
TOTAL CURRENT |
77,694,000.00 |
78,240,000.00 |
61,056,000.00 |
60,248,344.00 |
|
FIXED |
|
26,376,000.00 |
38,345,000.00 |
135,781,082.00 |
|
OTHERS |
147,450,000.00 |
117,859,000.00 |
|
|
|
TOTAL ASSETS |
225,144,000.00 |
222,475,000.00 |
99,401,000.00 |
196,029,426.00 |
|
LIABILITIES |
|
|
|
|
|
TOTAL CURRENT |
54,663,000.00 |
59,429,000.00 |
42,814,000.00 |
40,694,982.00 |
|
LONG TERM |
66,532,000.00 |
61,037,000.00 |
394,839.00 |
2,489,097.00 |
|
SHAREHOLDERS' EQUITY |
|
|
|
|
|
TOTAL
EQUITY |
103,949,000.00 |
102,009,000.00 |
56,192,161.00 |
152,845,347.00 |
|
TOTAL
LIABILITIES |
225,144,000.00 |
222,475,000.00 |
99,401,000.00 |
196,029,426.00 |
|
SALES |
147,067,000.00 |
159,535,000.00 |
142,123,000.00 |
122,179,311.00 |
|
PROFIT(LOSS) |
7,017,000.00 |
13,175,000.00 |
14,447,000.00 |
11,230,983.00 |
RATIO
|
LIQUIDITY RATIO |
1.42 |
(Current Assets/Current
Liabilities) |
|
DEBT-TO-EQUITY RATIO |
190.16 |
(Shareholders's
equity/Current Liabilities %) |
|
PROFITABILITY MARGIN |
4.77 |
(Profits/Sales %) |
|
WORKING CAPITAL |
23,031,000.00 |
(Current Assets - Current
Liabilities) |
FINANCIAL
SITUATION : Active
According to the last Financial Statement presented
(31/12/2009), the company's Financial Standing is considered to be Satisfactory
as it has an adequate liquidity ratio. Working capital is positive and allows
an orderly fulfillment of payments. Debt-to-equity ratio is acceptable.
Economic results have been satisfactory.
Reportedly, the decrease in 2009 sales was due to
the increase of imported products.
CORPORACION INFARMASA S.A. is considered one of the
largest pharmaceutical corporations in Peru with wide experience in this field.
Today it is considered a leading company in the domestic market with
international presence.
INSURANCE
.-
|
Company |
Againts |
Amount |
Expiration |
|
RIMAC INTERNACIONAL COMPANIA
DE SEGUROS |
All risk |
Not specified |
Not specified |
PAYMENTS
RECORD
TRADE REFERENCES .-
|
Supplier |
Country |
Tel. |
Line of Credit |
Monthly Average |
Terms (days) |
Perfomance? |
Time |
Products/Services |
|
Corporacion de Industrias
Plásticas |
PERU |
(511) 3134200 |
Open |
US$ 250,000.= |
Draft/120 days |
Prompt |
15 years |
PVC sheets, flasks. |
|
AMFA Vitrum S.A. |
PERU |
(511) 3365818 |
US$ 100,000.= |
Not specified |
30-day invoice |
Prompt |
8 years |
Vial containers |
|
Palacio & Asociados
Agentes de Aduana SAC |
PERU |
(511) 4652959 |
Open |
Not specified |
30-day invoice |
Prompt |
+5 years |
Customs service |
|
Imperlac S.R.L. |
PERU |
(511) 4716527 |
Open |
US$ 50-60,000.= |
30 days |
Prompt |
11 years |
Lactose - raw material |
|
Industrias Lintex Import
S.R.L. |
PERU |
(511) 5445603 |
Open |
Not specified |
45 days |
Prompt |
5 years |
Uniforms, shoes. |
NOTE: Other Suppliers did not
provide information or could not be consulted.
|
Supplier |
Country |
Tel. |
|
Droguería Ricardo Céspedes |
PERU |
(511) 4715495 |
|
V. Tecnic S.A. |
PERU |
(511) 3481080 |
|
Palacios y Asociados Agentes
de Aduanas |
PERU |
(511) 6280894 |
|
Selectchemie AG |
GERMANY |
N/A |
|
Mitsui Co. Ltda |
JAPAN |
N/A |
|
DVA Health & Nutrition
GMBH |
GERMANY |
N/A |
|
Dr. Readdys Laboratories |
INDIA |
N/A |
|
Chemo S.A. |
SWITZERLAND |
N/A |
|
Harbin Phamarceutical Group |
CHINA |
N/A |
|
Tecnoglass S.A.C. |
PERU |
N/A |
|
Abel Ulloa Sánchez Ag.
Aduanas |
PERU |
(511) 6163300 |
|
Selecta S.A. |
PERU |
(511) 2434181 |
|
Cristal Murano Peruano |
PERU |
(511) 3622216 |
|
Codigraf |
PERU |
(511) 5220067 |
|
Ausa Aduanas S.A. |
PERU |
(511) 6163300 |
CREDIT RISK CENTRAL .-
Two returned checks due to lack of funds were
previously reported:
26/02/2007: 01 Check for S/.6,877.04
28/09/2005: 01 Check for S/. 841.49
Both documents have not been regularized yet . However, according to one of respective
drawers the Company is fulfilling its payment obligations on time.
It's worth mentioning that as long as due
regularization is not carried out before the Chamber of Commerce, a document
can keep being considered non-solved even thoug it has been paid off.
Likewise, an old debt for S/.110 Nuevos Soles with
AMERICA MOVIL PERU (CLARO), concerning an overdue document dated 28/01/2006,
was reported.
Subject is not included in the list of companies
related to terrorism and narcotics trafficking published by OFAC (Office of
Foreign Assets Control) from the US Department of the Treasury (Clinton List).
CREDIT HISTORY .-
Its credit history as of February 2010 shows prompt
payments.
BANKING
INFORMATION
BANKERS
.-
|
Bank |
Contact |
Telephone |
Account # |
DC (S/.) |
FC (US$) |
|
BANCO DE CREDITO DEL PERU
S.A. |
N/A |
N/A |
N/A |
N/A |
N/A |
|
SCOTIABANK PERU SAA |
N/A |
N/A |
N/A |
N/A |
N/A |
|
BBVA BANCO CONTINENTAL |
N/A |
N/A |
N/A |
N/A |
N/A |
|
BANCO BIF |
N/A |
N/A |
N/A |
N/A |
N/A |
|
BANCO SANTANDER |
N/A |
N/A |
N/A |
N/A |
N/A |
|
BANCO INTERBANK |
N/A |
N/A |
N/A |
N/A |
N/A |
Subject's financial transactions are carried out
through the above mentioned banks where it holds current accounts in a
responsible manner, as well as good compliance with the payment of its assumed
obligations.
SUPERINTENDENCY
OF BANK & INSURANCE.-
The SBS reported the following debts the Financial
System as at 31JUL2010 (Last Report)
|
Obligations |
DC (S/.) |
FC (US$) |
|
Advance in current account cont |
4,840,497.00 |
0.00 |
|
Advance in current account cont |
3,213.00 |
3,937.00 |
|
Credit Cards-Contract |
0.00 |
0.00 |
|
Overdrafts-Current Account |
0.00 |
0.00 |
|
Discounts-Drafts |
16,679,779.00 |
0.00 |
|
Discounts promissory note |
0.00 |
0.00 |
|
Loans |
42,457,000.00 |
0.00 |
|
Financial Leasing |
1,187,555.00 |
47,979.00 |
|
Foreign trade credit |
0.00 |
0.00 |
|
Current accruals |
626,989.00 |
1,189.00 |
|
Letters of indemnity |
10,865,798.00 |
16,349.00 |
|
Letters of credit |
0.00 |
49,648.00 |
|
Banking acceptance |
0.00 |
39,017.00 |
|
other OTROS 1 INGLES |
2,843,634.00 |
493,803.00 |
|
0.00 |
|
|
|
Total Indebtedness |
79,504,465.00 |
651,922.00 |
|
Guarantees |
0.00 |
0.00 |
Debt structure for Bank
(Domestic Currency)
|
|
RATING |
% |
RATING DESCRIPTION ACCORDING
TO THE SBS |
|
X |
NORMAL |
100 |
Good Financial Situation.
Prompt payments, Consitent and Updated Information. |
|
|
PROBLEM POTENTIAL |
- |
Satisfactory Financial
Situation but cash flow can weaken which causes payment defaults. Irregular
trend. Weaken which causes payment defaults. Irregular trend. |
|
|
DEFICIENT |
- |
Deficient Financial
Situation with cash problems, profis shortage, continuous delayed payments,
overdue credits and/or collection by count order, decreasing trend. |
|
|
DOUBTFUL |
- |
Heavy Financial Situation, cash
flow shortage, continuous delayed payments, overdue credits and/or collection
by court order. Not too reliable information. Bad management. |
|
|
LOSS |
- |
Bad Financial Situation, cash
flow does not cover production costs, declared bankruptcy, payment
discontinuance,collection by court order. Bad management. |
Debt structure for Bank
(Domestic Currency)
|
Bank |
Amoun (S/.) |
|
B. CREDITO |
61,685,095.00 |
|
B. SCOTIABANK |
10,923,282.00 |
|
B. INTERBANK |
3,739,385.00 |
|
B. CONTINENTAL |
2,556,521.00 |
|
B. SANTANDER PERU |
243,932.00 |
CREDIT
OPINION
Subject is considered EIIGIBLE for being granted a
US$1,050,000.= credit.
NOTE: The Opinion given is confidential referential
and with out liability
Press Releases
Source: Diario El Comercio
Date: 27/01/2011
ISRAELI GIANT COMPANY "TEVA" ACQUIRES
INFARMASA, A PERUVIAN LABORATORY
The Israeli pharmaceutical company TEVA
PHARMACEUTICAL INDUSTRIES announded yesterday the acquisition of the Peruvian
laboratory CORPORACION INFARMASA to ALTRA INVESMENTS (ALTRA ) and THE ROHATYN
GROUP (TRG)
By merging this company and its subsidiaries in
Peru, Corporación Medco, Teva seeks to establish one of the two largest
pharmaceutical companies in the Peruvian market. Currently, both companies are
among the top ones in the sector.
TEVA President, Sholomo Yanai, stated that this
acquisition expands the activity of the Israeli company in Latin America and
restates its objective to become a leading company in the region. It's worth
pointing out that TEVA is the largest worldwide manufacturer of generic medicines,
with direct presence in 60 countries. Though the exact transaction amount was
not revealed, hundreds of million dollars would have been paid.
LARGE PORTFOLIO
Yanai emphasized that the acquisition of INFARMASA,
which resulted from the merger between LABORATORIOS MAGMA and INSTITUTO
SANITAS, will complete the medicine portfolio that TEVA sells in our market.
The company is interested in increasing its offer in the antibiotics area where
INFARMASA produces the leading brand in Peru.
Likewise, the laboratory produces and sells brand
products and generic medicines, particularly corticoids, antihistaminics,
analgesics and antibiotics, with a portfolio forming over 600 registered
products, from which 500 are currently sold. The company has two factories in
Lima and a considerable medicine porfolio being developed.
In a press release, TEVA ensured that it sees great
opportunities in the Peruvian pharmaceutical market, since per capita spending
in medicines is one of the lowest in the region, and it is estimated that it
will reach US$1,800 millions in 2015.
Source: ADIFAN
Date: 26/02/2010
The pharmaceutical industry in Peru has annual
sales for 1,200 million dollars approximately, from which 760 millions are from
sales in the private market, informed Luis Caballero, president of the National
Pharmaceutical Industries Association (Adifan).
Source: ADIFAN
Date: 26/10/2009
INFARMASA entered the Venezuelan market to offset
the fall in the domestic market.
It is encouraged, despite the experience of garment
manufacturers, to export injectables to
China.
Exporting to Venezuela has brought serious
headaches to garment manufacturers. But for CORPORACION INFARMASA its entry
into that market has meant a "great relief", since it has contributed
to offset the drop of the local market. "We have already exported US$ 2
million Dollars in injectables and before year end we hope to make a dispatch
for US$ 3 millions more," said the General Manager of the corporation,
Luis Caballero, who stated that as the government of Hugo Chávez considers
health matter as a priority, there have been no problems with their payments.
Another market that the company has tried at the
same time is the Chinese market. "We have an agreement with an important
laboratory to export injectables. Only
the license is missing. If this is granted, we will make sales for US$3 million
Dollars", he added. He said that
from now on exports will be the priority as the domestic market has had a
strong fall as a result of the crisis. "Our sales dropped 15%, but if the business with China and other market
succeeds we will have a sales for US$ 60
million Dollars, similar than in 2008 ", he said. He pointed out that the
construction of a new plant has to wait
until 2011.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.74 |
|
|
1 |
Rs.72.73 |
|
Euro |
1 |
Rs.62.73 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.