|
Report Date : |
03.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
UNIPHARM LTD. |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
15.07.1965 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Developers,
manufacturers (via subcontractor) and marketers of generic pharmaceutical
products. |
|
|
|
|
No. of Employees : |
25 |
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 : |
Good |
|
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Israel |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
UNIPHARM LTD.
Telephone 972 3 613 50 50
Fax 972 3 613 51 51
P.O. Box 21429 (61213)
145 Bialik Street
RAMAT GAN 52523 ISRAEL
A private limited company,
incorporated as per file No. 51-045766-6 on the 15.07.1965.
Authorized share
capital NIS 10,000.00, divided into -
10,000 ordinary shares of NIS
1.00 each,
of which 1,502
shares amounting to NIS 1,502.00 were issued.
1. Zvulun Tomer, 50%,
2. Ms. Shoshana Tomer, 50%.
1. Zvulun Tomer, General Manager,
2. Ms. Shoshana Tomer.
Developers,
manufacturers (via subcontractor) and marketers of generic pharmaceutical
products.
Subject also originates
and initiates pharmaceutical and pharmacological research, most of which is
conducted in collaboration with Israeli institutes of higher education.
All sales are to
the local market.
Sales are to HMO's
and hospitals.
Manufacturing
activities are carried out by subject's affiliated company (50%), TRIMA ISRAEL PHARMACEUTICAL PRODUCTS MAABAROTH LTD.
Operating from
rented offices, in 145 Bialik Street, Ramat Gan. Subject also uses warehouse
facilities located at subsidiary TRIMA.
Having 25 employees.
Financial data not
forthcoming.
There are no
charges registered on the company’s assets.
Sales figures not
forthcoming.
TRIMA ISRAEL PHARMACEUTICAL PRODUCTS MAABAROTH
LTD.,
50% owned by the Tomer family (via MOTIVAN LTD.), incorporated 1941, developers, manufacturers, importers, marketers and
exporters of prescription and over the counter (OTC) pharmaceutical goods,
focusing on the allergy, dermatology, gastroenterology, orthopedics and
rheumatology fields. 2009 sales over NIS 50 million, having some 200 employees.
Bank Leumi
Le'Israel Ltd., Ramat Hahayal Business Branch (No. 682), Tel Aviv, account No.
20400/14.
A check with the Central Banks' database did not reveal any negative
information regarding subject's a/m account.
Subject, as a generic pharmaceutical manufacturer, is involved in
intellectual property aspects, including by either staying off the market until
the patents expires, by trying to go around the still valid patents, or by
trying to invalidate the patent and launch a generic version as soon as legally
possible. These activities cause subject to be involved in several legal cases.
In November 2002, it was reported that the Tel Aviv District Court, at
GSK's (then SKB) request, issued a temporary injunction ordering subject to
stop marketing diabetic pharmaceuticals, which SKB claimed is a violation of
their patent. In May 2011 the Israeli Supreme Court ruled that subject did
violate GSK patent.
In May 2011, in a different legal matter regarding a claim by MERCK, the
Israeli Supreme Court ruled that subject (as well as other pharmaceutical
companies) may use a drug developed by another company if the legal patent
procedures have not yet been completed.
Apart from a/m cases, nothing unfavorable learned.
Subject's officials refused to disclose financial details.
Subject is a long established company.
In April 2010 the
Israeli Supreme Court ruled that LUNDBECK's
antidepressant drug Cipralex's patent expired in Israel and subject may
manufacture a generic drug.
The Israeli market
for pharmaceuticals was estimated at US$ 1,600 million in 2008. Medicines for
human consumption comprised US$ 1,124 million of which, including from import
(which is around NIS 4,000). Medicines market in 2011 is estimated to be closer
to NIS 5,000 million.
The
non-prescription drugs market in Israel is valued at NIS 750 million per annum
(some 15% of the local whole drugs market), with annual growth rate of circa
15%.
There are some 13
generic pharmaceutics production companies in Israel and the industry employs
9,000 employees.
Notwithstanding
the refusal to disclose financial data, considered good for trade engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.83 |
|
UK Pound |
1 |
Rs.87.41 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.