1. Summary Information
|
|
|
Country |
|
|
Company Name |
TEVA API INDIA
LIMITED |
Principal Name 1 |
Mr. Vijay Kumar
Batra |
|
Status |
Good |
Principal Name 2 |
Mr. David Kadmon |
|
|
|
Registration # |
55-138679 |
|
Street Address |
M -34, Saket |
||
|
Established Date |
26.04.2002 |
SIC Code |
-- |
|
Telephone# |
91-11-204073209 |
Business Style 1 |
Manufacturers |
|
Fax # |
91-11-204073275 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
Famcyclovir |
|
# of employees |
4 (approximately) |
Product Name 2 |
Clarithromyice |
|
Paid up capital |
Rs.
2,227,968,000/- |
Product Name 3 |
Simvastatin |
|
Shareholders |
Foreign holdings – 100% |
Banking |
-- |
|
Public Limited Corp. |
No |
Business Period |
8 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
A
(57) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding
Company |
|
Teva Pharmaceuticals Industries Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,124,629,000 |
Current Liabilities |
784,116,000 |
|
Inventories |
1,686,560,000 |
Long-term Liabilities |
1,242,637,000 |
|
Fixed Assets |
2,928,102,000 |
Other Liabilities |
150,240,000 |
|
Deferred Assets |
0 |
Total Liabilities |
2,176,993,000 |
|
Invest& other Assets |
250,356,000 |
Retained Earnings |
1,121,386,000 |
|
|
|
Net Worth |
3,812,654,000 |
|
Total Assets |
5,989,647,000 |
Total Liab. & Equity |
5,989,647,000 |
|
Total Assets (Previous Year) |
5,818,952,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
3,465,449,000 |
Net Profit |
156,390,000 |
|
Sales(Previous yr) |
5,269,344,000 |
Net Profit(Prev.yr) |
481,549,000 |
MIRA
INFORM REPORT
|
Report Date : |
29.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
TEVA API INDIA LIMITED (w.e.f 17.01.2008) |
|
|
|
|
Formerly Known As : |
REGENT DRUGS LIMITED |
|
|
|
|
Registered Office : |
M - 34, Saket, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
26.04.2002 |
|
|
|
|
Com. Reg. No.: |
55-138679 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74899DL2002PLC138679 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELR07854A |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AACCR0679R |
|
|
|
|
Legal Form : |
A Closely Held
Public Limited Liability Company. |
|
|
|
|
Line of Business : |
Manufacturers of Active
Pharmaceutical Ingredients (API’s) and Intermediates |
RATING & COMMENTS
|
MIRA’s Rating : |
A (57) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
|
|
|
|
|
Maximum Credit Limit : |
USD 15000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well
established and a reputed company having fine track. Trade relations are
reported as fair. Business is active. Payments are reported to be regular and
as per commitments. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
M -34, Saket |
|
Tel. No.: |
91-11-204073209 |
|
Fax No.: |
91-11-204073275 |
|
E-Mail : |
|
|
|
|
|
Head Office : |
13th
Milestone, |
|
Tel. No.: |
91-129-2258945 to
2258945 |
|
Fax No.: |
91-129-2274362 |
|
E-Mail : |
|
|
Website: |
|
|
Location : |
Industrial |
|
|
|
|
Corporate Office : |
|
|
Tel No : |
+972-3-9267267 |
|
Fax No : |
+972-3-9234050 |
|
|
|
|
Factory: |
Plot No. A-2,
A-2, A-2/1,A-2/2, UPSIDC Industrial Area, Gujraula-244 235, District J P
Nagar, Uttar Pradesh |
|
Tel. No.: |
91-5924-252590 to
252593 |
|
Fax No.: |
91-59245252314 |
|
Area : |
26.5 hectors |
|
Location : |
Industrial |
|
|
|
|
Administrative
Office : |
8, Bahadur Shah
Zafar Marg, |
|
Tel. No.: |
91-11-23316791 /
23716811 /23716663 |
|
Fax No.: |
91-11-51509449 /
23350993 |
|
|
|
|
International
Office : |
Teva
Pharmaceuticals Latin America Representative office Schotegatweg Oost 29 D, Tel No: +5999-7366066 Fax No: +5999-7367066 Sicor
Latinoamerica S.A. Pharmaceutical, Biogeneric and API development manufacture and marketing Pasaje Interlomas No. 16 - 5to. Piso, Col. San Fernando
La Herradura, CP 52784 Huixquilucan, Tel No: +(52)-55-5950-0200 Fax No: +(52)-55-5950-0201 Teva
Pharamceutical Pte Limited, 28 Genting Lane, Platinum 28 #04-03, Singapore 349585,
Level 8, KSK Main Building Tel No: +65-6509-0403 Fax No: +65-6509-0413 Teva
Pharmaceutical K.K. 3-25-7 Hacchobori, Chuo-ku, Tel No: +81-3-5542-8980 Fax No: +81-3-5542-8981 Teva
API India Limited Plot No. 2G, 2H, 2I, Udyog Vihar, Greater Noida 201308, Tel No: 91-120-2351340 / 46 Fax No: 91-120-2351357 Assia
Pharmaceuticals Limited Representative office for Tel No: +254-20-537622 Fax No: +254-20-537628 Teva
Pharmaceuticals (Pty) Limited Representative office for Suite 1, Building 4, Ruimsig Office Park, Hole In One
Road, Ruimsig Tel No: +27 11 958 0271 Fax No: +27 11 958 0550 Teva
Marketing Offices Teva Farmaceutica Ltda, Rua James Joule, 92, 15 andar, Tel No: +5511 5105 5750 Fax No: +5511 5105 5779 Teva
Pharmaceutical Information RSuit 4002, 40/F, Tower 2 Plaza 66, No. 1366 Nanjing
Road (W), Shanghai, 200040, China Tel No: +86 21 6091 9500 Fax No: +86 21 6091 9505 |
DIRECTORS
As On 29.10.2010
|
Name : |
Mr. Vijay Kumar
Batra |
|
Designation : |
Managing Director |
|
Address : |
161, Dayanand
Vihar, Vikas Marg Extension, |
|
Date of Birth/Age
: |
13.03.1947 |
|
Qualification
: |
B. Tech |
|
Date of
Appointment : |
01.08.2003 |
|
DIN No.: |
00038275 |
|
|
|
|
Name : |
Mr. David Kadmon |
|
Designation : |
Director |
|
Address : |
Post Box No.
1371, |
|
Date of Birth/Age
: |
31.07.1950 |
|
Date of
Appointment : |
01.08. 2003 |
|
DIN No.: |
01390876 |
|
|
|
|
Name : |
Mr. Erez Israeli |
|
Designation : |
Director |
|
Address : |
Tamar 19, Rannana
– 75321, |
|
Date of
Birth/Age : |
21.03.1967 |
|
Date of Appointment
: |
29.12.2005 |
|
DIN No.: |
01408321 |
|
|
|
|
Name : |
Mr. Kapil Dev
Sapra |
|
Designation : |
Director |
|
Address : |
M -34 Saket New |
|
Date of
Birth/Age : |
05.08.1972 |
|
Date of
Appointment : |
10.08.2006 |
|
DIN No.: |
00130600 |
|
|
|
|
Name : |
Mr. Lazer Bezdin |
|
Designation : |
Director |
|
Address : |
D-71, 2nd
Floor, |
|
Date of
Birth/Age : |
11.12.1972 |
|
Date of
Appointment : |
29.12.2005 |
|
Date of
Ceasing : |
15.12.2007 |
|
DIN No : |
00083117 |
|
|
|
|
Name : |
Mr. Yehuda
Shoshani |
|
Designation : |
Director |
|
Address : |
10 keshet |
|
Date of
Birth/Age : |
28.05.1958 |
|
Date of
Appointment : |
05.03.2009 |
|
Date of
Cessation : |
01.06.2010 |
|
DIN No.: |
02662924 |
KEY EXECUTIVES
|
Name : |
Mr. Sunil Kumar Sharma |
|
Designation : |
Secretary |
|
Address : |
13/3A, First Floor, Moti Nagar, |
|
Date of Birth/Age : |
18.07.1970 |
|
Date of Appointment : |
31.08.2007 |
|
Pan No.: |
AHZPS2306P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 29.10.2010
|
Names of Shareholders (Equity Shares) |
No. of Shares |
|
|
|
|
Teva Pharmaceuticals
Finance Asher Khatau
Sanjay [2nd Holder] |
1 |
|
Teva
Pharmaceuticals Finance Ramchandran
Madhvi [2nd Holder] |
1 |
|
Teva
Pharmaceuticals Finance Chowdhury
Malashree [2nd Holder] |
1 |
|
Teva
Pharmaceuticals Finance Mehta Shraddha [2nd
Holder] |
1 |
|
Teva
Pharmaceuticals Finance Pardi Wala Armi N
[2nd Holder] |
1 |
|
Teva Pharmaceuticals
Finance Asher Prashant [2nd
Holder] |
1 |
|
Teva Pharmaceuticals Finance |
20685244 |
|
Teva Pharmaceuticals Finance |
55293000 |
|
Total |
75978250 |
As On 29.10.2010
|
Names of Shareholders (Preference Shares) |
No. of Shares |
|
|
|
|
Teva
Pharmaceuticals Finance |
5743500 |
|
Teva
Pharmaceuticals Finance |
8938350 |
|
Teva
Pharmaceuticals Finance |
4633000 |
|
Total |
19314850 |
As On 08.02.2011
|
Names of Shareholders (Equity Shares) |
No. of Shares |
|
|
|
|
Teva
Pharmaceuticals Finance |
9256000 |
As On 29.10.2010
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of
Active Pharmaceutical Ingredients (API’s) and Intermediates |
||||||||||||||||
|
|
|
||||||||||||||||
|
Products : |
·
Advanced Intermediates of Anti bacterial Drugs ·
CNS and Anti Hypertensive Drugs ·
Anti Inflammatory Drugs ·
Anti Cholesterol Drugs ·
Anti Coagulant Drug
|
||||||||||||||||
|
|
|
||||||||||||||||
|
Terms : |
|
||||||||||||||||
|
Selling : |
Cash, L/C
and Credit |
||||||||||||||||
|
|
|
||||||||||||||||
|
Purchasing : |
Cash, L/C and
Credit |
GENERAL INFORMATION
|
Customers : |
|
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
4 (approximately)
|
||||||||||||
|
|
|
||||||||||||
|
Bankers: |
Not Divulged |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered
Accountants |
|
Address 2: |
Building 8, 7th and
8th Floor, Tower 8, |
|
Pan No : |
AAEFP5579P |
|
|
|
|
Holding Company : |
·
Teva Pharmaceuticals Finance ·
Teva Pharmaceuticals Industries Limited, |
|
|
|
|
Associates/Subsidiaries : |
·
Teva
Pharmaceutical and Chemical Industries India Private Limited CIN No:
U24230MH2003FTC140276 ·
Ivax India
Private Limited CIN No:
U73100MH2000PTC130011 ·
Assia
Chemicals Industries limited ·
·
Teva
Pharmaceuticals ·
Plantex
Limited, ·
Abic Limited, ·
·
API Industries ·
Plantex ·
Laborators Chille S.A ·
Plus chemicals SA, ·
Teva Pharmaceuticals Works Company Private
Limited, ·
Teva Pharmaceuticals Fine Chemicals srl, ·
Hangzou Teva Synthetics Pharmaceuticals Company
Limited, |
CAPITAL STRUCTURE
AS ON 29.10.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
76,000,000 |
Equity shares |
Rs.10/- each |
Rs.760.000 Millions |
|
44500000 |
Preference Shares |
Rs. 100/- each |
Rs.4450.0000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 5210.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75,978,250 |
Equity shares |
Rs.10/- each |
Rs.759.783
Millions |
|
19314850 |
Preference Shares |
Rs. 100/-
each |
Rs. 1931.485
Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 2691.268 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2227.968 |
1334.133 |
206.852 |
|
|
2] Share Application Money |
463.300 |
149.460 |
273.420 |
|
|
3] Reserves & Surplus |
1121.386 |
964.995 |
483.447 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3812.654 |
2448.588 |
963.719 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
1242.637 |
1414.732 |
1111.233 |
|
|
TOTAL BORROWING |
1242.637 |
1414.732 |
1111.233 |
|
|
DEFERRED TAX LIABILITIES |
150.240 |
84.368 |
53.174 |
|
|
DEFERRED PAYMENT LIABILITIES |
0.000 |
0.752 |
1.503 |
|
|
|
|
|
|
|
|
TOTAL |
5205.531 |
3948.440 |
2129.629 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2928.102 |
1646.911 |
1118.449 |
|
|
Capital work-in-progress |
250.356 |
698.245 |
245.566 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1686.560 |
1623.797 |
907.319 |
|
|
Sundry Debtors |
451.516 |
823.879 |
474.280 |
|
|
Cash & Bank Balances |
460.920 |
730.565 |
305.651 |
|
|
Other Current Assets |
128.428 |
95.521 |
55.108 |
|
|
Loans & Advances |
83.765 |
200.034 |
100.500 |
|
Total
Current Assets |
2811.189 |
3473.796 |
1842.858 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
725.130 |
1845.808 |
1057.551 |
|
|
Provisions |
58.986 |
24.704 |
19.693 |
|
Total
Current Liabilities |
784.116 |
1870.512 |
1077.244 |
|
|
Net Current Assets |
2027.073 |
1603.284 |
765.614 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5205.531 |
3948.440 |
2129.629 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3465.449 |
5269.344 |
2511.300 |
|
|
|
Other Income |
181.044 |
136.977 |
151.110 |
|
|
|
TOTAL (A) |
3646.493 |
5406.321 |
2662.410 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Cost |
2585.227 |
3880.318 |
1665.688 |
|
|
|
Employee Cost |
286.926 |
230.983 |
168.350 |
|
|
|
Borrowing Cost |
15.657 |
44.120 |
54.889 |
|
|
|
General, Administrative and Selling Expenses |
178.817 |
484.448 |
163.147 |
|
|
|
TOTAL (B) |
3066.627 |
4639.869 |
2052.074 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
579.866 |
766.452 |
610.036 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
579.866 |
766.452 |
610.036 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
274.603 |
174.379 |
110.849 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
305.263 |
592.073 |
499.487 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
148.873 |
110.524 |
73.650 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
156.390 |
481.549 |
425.837 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
964.996 |
483.447 |
57.610 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1121.386 |
964.996 |
483.447 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
|
|
2311.043 |
|
|
|
R and D Recovery |
|
|
147.277 |
|
|
|
Recovery of marketing Fee |
|
|
10.332 |
|
|
TOTAL EARNINGS |
|
|
|
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
|
1080.723 |
|
|
|
Purchase of Finished Goods for Resale
(Traded Goods) |
NA |
NA |
17.960 |
|
|
|
Capital Goods |
|
|
97.643 |
|
|
|
Spares |
|
|
2.396 |
|
|
TOTAL IMPORTS |
NA |
NA |
1198.722 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.06 |
7.25 |
20.59 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.29
|
8.90
|
15.99
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.81
|
11.23
|
19.89
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.32
|
11.56
|
27.10
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.24
|
0.52
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.53
|
1.34
|
1.12
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.59
|
1.85
|
1.71
|
LOCAL AGENCY FURTHER INFORMATION
NOTE:
The Registered office of the company has been shifted from “C-215
Defence Colony,
OPERATION
The company has taken the major leap forward
during the year expanding its manufacturing facilities at gajraula and also
equipped further its R and D centre at greater noida by putting an investment
of Rs. 542.015 millions and Rs. 37.137 millions respectively. The year also saw
new products like CLD CSA, clopidogrel salt pure e1etnptanptsa, IRB-CRUDE,
TBRE, VRN- 11, Trityl Losartan, and S-Dipamp Tartrate dry added in the existing
product basket of the company.
The company has been in the process or
setting up a green field manufacturing facility at malanpur industrial area,
The company has continued its thrust for
having world class safety standards in its production and research facilities
and has been successful in achieving this objective.
The year under report has witnessed a major
global economic slowdown. It impacted the exports of the company also, being a
100% EOU facility. Gross sale of the company as stated above includes the income
generated out of research and development services provided by the company to
its customers
Amounting to Rs. 238.898 millions and other
income of Rs. 181.044 millions, the company achieved a surplus of Rs. 305.263
millions prior to accounting for the current tax and deferred tax, the net
profit of the company after accounting for taxes is Rs. 156.390 millions. The foreign Rs. 1388.197 millions (largely due to import of raw
materials).
The directors are glal to report that the
company has further plans to keep expanding significantly in the years to come
in order to expand the range of products and to leverage its cost of
operations.
Fixed assets:
·
· Buildings
· Plant and machinery
· Office equipment
· Furniture and Fittings
· Vehicles
· Leasehold improvements.
· Computer software
NoteS:-
The company was
originally incorporated in Kolkata having company registration No. 21-94558 and
the registered office was transferred to
Subject import raw materials
and chemicals, spares
Subject reportedly
exports medicines and sells locally
About Tava
With its manpower strength of over 14,000 employees Teva
Pharmaceuticals Industries Limited is a global healthcare group, with
headquarters located in
Specializing in
API’s and finished form of pharmaceuticals, Subject is among the largest
generic pharmaceutical companies in the world.
Subject has
manufacturing bases for API’s and pharmaceuticals spread out in various parts
of the world with its units in
With its main focus
of business in US and Europe, Subject has spread its wings in Far east and
With an aim to stay
ahead always Subject is focusing in the field of neurological and auto immune
diseases.
Press
Clippings
Source: The Hindu dated December 29, 2005
Teva inaugurates R
and D facility in Noida- Plans tie-ups with
The world’s largest
generic company, Teva Pharmaceutical Industries Limited, is stepping up its
presence in
Besides setting up
a new research and development (R and D) center here, it is also planning to enter
into partnerships with Indian firms for biotechnology and conducting clinical
research.
Speaking to
newspersons after the inauguration of the R and D center in greater Noida, Mr.
Aharon Yaari, President and CEO, Active Pharmaceutical Ingredient (API),
Division – Teva Group, said, “India plays an important part in their
development programmers and they are
looking at collaborations with Indian companies in clinical programme and
cutting edge scientific areas like biotechnology”.
Initially, studies
could be conducted on drugs for the central nervous system (CNS) and later
other therapeutic segments could be added.
“They would also
look at collaborating with
Here the company is
operating through its wholly owned subsidiary, Regent Drugs Limited that it
acquired in 2003
The
The center would
start with 60 scientists that would go up to 125 in three to four years. Teva
has close to half –a dozen R and D
centers globally and the facility in
Beside, the company
has a manufacturing facility at Gajrola in Uttar Pradesh for APIs that caters
to Teva’s global requirements.
This was inherited through the Regent
acquistion with an investment of over $ 10 million.
“About 10 molecules for various therapeutic segments
including infections diseases, antidepressants and CNS products worth $ 20
million- $ 30 million are sourced by the parent company
From regent.
Another three new molecules will be added next year”. Said Mr. V K Batra,
Managing Director
He further added
that the strategy for entering the formulation business has not yet been
finalized.
On acquisitions in
Some months ago the market
was abuzz with talks of Teva scouting for a generic company in
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.78 |
|
|
1 |
Rs.71.63 |
|
Euro |
1 |
Rs.62.96 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
57 |
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%)
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 report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.