MIRA INFORM REPORT
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Report Date : |
16.06.2011 |
IDENTIFICATION DETAILS
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Name : |
PHARMASCIENCE INC. |
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Registered Office : |
6111, Avenue Royalmount, Bureau 100, Montreal, Quebec, H4p2t4, |
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Country : |
Canada |
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Date of Incorporation : |
31.05.2005 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Manufacturing and distribution
of generic, innovative, and consumer brand products i |
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 : |
800,000 USD |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Usually Correct |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Canada |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
GEOPOLITICS - CANADA
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: USD |
IDENTIFICATION
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Ordered as: |
Pharmascience Inc |
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Address in the order: |
6111 Royalmount Suite 100 Montreal O.C. H4P 2T4 |
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Legal Name: |
PHARMASCIENCE INC. |
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Legal Address |
6111, AVENUE ROYALMOUNT, BUREAU 100 MONTREAL, QUEBEC, H4P2T4, CANADA |
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Telephone: |
+ 1 (514) 340-1114 |
Document Number : |
1163022362 |
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Fax: |
+ 1 (514) 342-7764 |
Legal Form: |
Corporation for Profit |
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Email: |
Registered in: |
Quebec |
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Website: |
Date Created: |
1983 |
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Manager: |
GOODMAN MORRIS, President |
Date Incorporated: |
May 31, 2005 |
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Staff: |
1,300 employees |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Manufacturing and distribution of generic, innovative, and consumer
brand products in Canada and worldwide. |
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BANKS
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Name of the Bank |
BANK OF MONTREAL |
BUSINESS
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HISTORY |
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Aegera Therapeutics, Inc. was formerly known as Exogen Neurosciences,
Inc. The company is based in Montreal, Canada. As of May 26, 2011, Aegera Therapeutics,
Inc. operates as a subsidiary of Pharmascience, Inc. Aegera Therapeutics, Inc., a clinical stage biotechnology company,
focuses on developing drugs that control apoptosis. |
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PRINCIPAL ACTIVITY |
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Pharmascience, Inc., a pharmaceutical company, engages in the
research, development, manufacture, and marketing of generic and consumer
brand products for prescription and over-the-counter sale in Canada and
internationally. The company offers generic drugs for various therapeutic
areas, such as cardiovascular, gastroenterology, central nervous system,
anti-inflammatory, and anti-infective, as well as provides analgesic,
gastro-intestinal, family planning and cough, cold, and allergy categories.
It offers products in the form of liquids, tablets, capsules, suppositories,
powders, ophthalmics, sterile products for inhalation, gels, injectables,
ointments, creams, nasal solutions, diagnostics, and medical devices.
Pharmascience, Inc. has strategic partnerships with Alcon, Astra Zeneca,
Abbott, Berlex, Bristol-Myers Squibb, Fournier, Janssen-Ortho, Eli-Lilly,
Novartis, Purdue, and Roche. The company was founded in 1983 and is based in
Montréal, Canada with sales offices in New York, London, Kiev, and Moscow.
Pharmascience, Inc. operates as a subsidiary of Joddes Limitee. |
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Sales are: |
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Wholesale |
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Operations area: |
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National, International |
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Trade References: |
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The company's trade references were not confirmed withe the staff. |
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PAYMENTS |
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regular |
Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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JODDES LIMITÉE 6111, AVENUE ROYALMOUNT,
BUREAU 100 MONTREAL, QUEBEC H4P2T4, CANADA |
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Management: |
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Mr Deschamps Mario Officer Mr McNicoll Caroline Officer Mr. David W. Goodman Chief Executive Officer Mr. Mario Deschamps President and Chief Operating Officer Mr. Morris Goodman Co-Founder and Chairman Mr. Ted Wise Co Founder Shri Makarand Deshpande Senior Director of International Sales & Marketing |
Financials - COMMERCIAL TRENDS AND FORECAST
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As a private company the subject does not publish any financial
statements. |
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However our financial sources could provide us with the following
data. Those figures are estimates provided by confidential banking and
financial institutions working with the company (exceptionally in USD). |
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Currency |
DATE |
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USD |
2010 |
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Turnover |
122,110,000 |
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Legal Fillings |
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The
sources consulted record no detrimental legal or labor court information. The company's last annual report was filed
on November 30, 2010. |
Rating
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Local credit bureau gave a medium credit
rate. The company is in Good Standing. This means
that all local and federal taxes were paid on due date. |
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Final Opinion |
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This is an established company. The structure's income is just fair for
the company's size. The entity bought another structure a few days
ago. A review within a few months may allow to assess the effects of this
purchase on the business' assets. At this time and considering our new
rating scale we suggest a credit line in the range of 800,000 USD for the
business. |
SUMMARY
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Profitability |
MEDIUM |
Public |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
NORMAL |
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APPENDIX
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Comments |
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Our call was transferred to an answering machine. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.68 |
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UK Pound |
1 |
Rs.73.05 |
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Euro |
1 |
Rs.64.29 |
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 |
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 |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.