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Report Date : |
26.07.2012 |
IDENTIFICATION DETAILS
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Name : |
NYCOMED |
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Formerly Known As : |
ALTANA PHARMA S.A. |
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Registered Office : |
Tronador No.4890 floor 7
(1430), |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
24.03.1960 |
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Com. Reg. No.: |
10.651 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Manufacture of Drugs
and Medicinal Products |
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No. of Employees : |
180 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 167393 |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Argentina |
B1 |
B1 |
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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 |
NYCOMED S.A.
CUIT No.: 30-50160299-6
INCORPORATED IN 1960. BEGINNER OF
ACTIVITIES. BALANCE SHEET AS OF 31/12/2009 (LAST KNOWN): BALANCED LIQUIDITY AND
HIGH LEVEL OF COMMITMENTS WITH FINAL LOSS. UNTIL UPDATED ACCOUNTING INFORMATION
IS OBTAINED. NO NEGATIVE. THE NEW CREDIT RELATIONS MUST BE DONE ON MODERATION
AND VERY FIRM BASIS.
DRUGS AND
MEDICINAL PRODUCTS
MANUFACTURE
COMMERCIALIZATION
IMPORT
EXPORT
Business type: Public Limited Company
Incorporated: 24/03/1960
Registration date: 15/02/1961
Registered: Number
10.651
Duration: Until 99
years
End of fiscal year: 31/12
Miss Alejandra
Cornejo (Administrative)
Legal and Administrative address: Tronador No.4890 floor 7 (1430), Buenos Aires
City, Argentina.
Phone.: (54-11) 4546-4700 (líneas rotativas)
Fax.: (54-11) 4546-4784
E-mail: alejandra.cornejo@nycomed.com
Website: www.nycomed.com
President:
SCHMIDT
WOLFGANG WILHELM
Vicepresident: BERISSO
JUAN CARLOS
Director: NORBERT OPPITZ
The first two mentioned ones, as Managers, are in charge of the management and
administration of the company, with the use of the social signature.
The company’s
corporate stock was established in $ 17.750.537.- which was totally subscribed
and paid-in, represented by equal amount of common shares, nominatives and
non-endorsable of value $ 1,00 each one, with right to one vote per share.
The 95,67% of the corporate stock belongs to:
TAKEDA PHARMACEUTICAL COMPANY LIMITED of JAPAN (from 30/09/2011)
According to our
database, we can say that these activities were initiated by the company LIPRANDI
S.R.L., which was formerly located at Cesar Diaz 5053/55, Buenos Aires City.
It operated until 1960, when was incorporated the company BYK LIPRANDI S.A.C.I.
as follower. It was located at Delgado 1565, Buenos Aires City. This name
changed to BYK ARGENTINA S.A. in 1997.
In July 2002, the name changed again. The new one was ALTANA PHARMA S.A.
Fits to highlight that ALTANA PHARMA is an international pharmaceutical group,
with more than 30 branches located at Europe, North and South America, Asia,
South Africa and Australia. ALTANA PHARMA AG is the pharmaceutical division of
ALTANA AG.
It is important to say that the activities began in 1878, being engaged in
different therapeutic fields, which have changed in accordance with its
structure and the market’s needs.
About ALTANA PHARMA S.A. (Argentina), was formerly engaged in the manufacture
and commercialization of different products such as Hepatalgina, Cirulaxia,
Nenedent, Carqueja Trop, besides of a large range of medicines only available
on prescription. It left these activities in 2004 to face only the import and
commercialization of products manufactured by its related foreign companies.
On 22/12/2005, it made a bill of sale with the company LABORATORIOS RICHMOND
S.A.C.I.F., where it sold its plant in Pilar (Buenos Aires Province) to the
another company but not the machines, equipments and systems in the building.
On 04/07/2007, the name ALTANA PHARMA S.A. changed to NYCOMED S.A.
We expose figures
from its balance sheet dated as of 31/12/2009 (last known), which are expressed
in pesos:
LIABILITIES DISCRIMINATION:
$
-------------------------------------------
---
Payable Accounts
20.894.342
Loans
2.326.125
Salaries and Social Charges
4.047.065
Fiscal Charges
1.842.481
Other Liabilitis
1.063.731
Forecasts
486.921
----------------
Total Liabilities
30.660.665
---------------------
Corporate Stock
17.750.537
Legal Reserves
401.266
Non-asigned results
- 2.867.055
--------------------
LIABILITIES + NET WORTS
45.945.413
==========
These figures show that there was a good relation between its current assets
and its current liabilities and its own resources were not in accordance with
the amounts into play. Most of the assumed commitments are because of
operations made by its related companies.
The income level was higher than the ones in 2008, which was of $ 71.961.024.
Balance Sheet/s 31/12/2009 31/12/2008
Total Assets $ 45.945.413,00 $ 38.775.512,00
Current Assets $ 39.864.061,00 $ 30.682.080,00
Banks $ 78,50 $ 0,00
Accounts
Receivables $ 10.929.685,00 $ 0,00
Inventory $ 17.376.549,00 $ 18.241.660,00
Fixed Assets $ 1.612.519,00 $ 0,00
Non-Current Assets $ 6.081.352,00 $ 8.093.432,00
Investments $ 0,00 $ 0,00
Total Liabilities $ 30.660.665,00 $ 23.438.749,00
Current
Liabilities $ 30.660.665,00 $ 23.438.749,00
Non-Current
Liabilities $ 0,00 $ 0,00
StockHolders
Equity $ 15.284.748,00 $ 15.336.763,00
Net Sales $ 87.195.787,00 $ 71.961.024,00
Cost of Good Sold $ 33.962.529,00 $ 32.474.039,00
Gross Result $ 53.233.258,00 $ 39.486.985,00
Administrative
Expenses $ 5.948.102,00 $ 5.260.432,00
Selling Expenses $ 43.858.382,00 $ 37.817.471,00
Financial Income $ 1.038.770,00 $ 0,00
Other Expenses $ -2.440.019,00 $ 520.099,00
Final Result $ -52.015,00 $ -3.070.819,00
Indexes 31/12/2009 31/12/2008
Current Ratio 130,02 % 130,90 %
Quick Ratio 73,34 % 53,08 %
Short Term
Indebtedness 200,60 % 152,83 %
Debt to Equity
Ratio 200,60 % 152,83 %
Long Term Assets
to Total Assets 13,24 % 20,87 %
Fixed Assets to
Equity 10,55 % 0,00 %
Total Assets to
Total Liabilities 149,85 % 165,43 %
Debt Ratio 66,73 % 60,45 %
Equity Ratio 33,27 % 39,55 %
Investments to
Assets Ratio 37,82 % 47,04 %
Current Investment 86,76 % 79,13 %
Stocks Aging Days 186,75 días 205,03 días
Day Sales 45,75 días 0,00 días
Trade Debtors To
Assets 23,79 % 0,00 %
Total Assets
Turnover 189,78 % 185,58 %
Net Worth Aging 570,48 % 469,21 %
Fixed Assets Aging 5.407,43 % Infinito %
Gross Profit 38,95 % 45,13 %
Financial Expenses
on Sales Ratio 1,19 % 0,00 %
Commercial Exp. on
Sales Ratio 50,30 % 52,55 %
Administrative
Exp. on Sales Ratio 6,82 % 7,31 %
REAL ESTATE:
------------
The occupied premises are rented by unknown amount and conditions.
The holder is
engaged in the manufacture, commercialization, import and export of drugs and
medicinal products for human use.
It has an advanced technology which allowed the manufacture of six new products
in 2008/2009. Five of them belongs to the “Ethical Group” and one is “free
sale” (OTC).
Some of the “Ethical Group” are as follows:
* Bi Moaxal (A broad-spectrum antibiotic).
* Omnaris (For allergic rhinitis treatment).
* Rupatin (Antihistamine and antiallergenic).
* Proctyl HC (Anti-hemorrhoids with hydrocortisone and lidocanine).
* Xefo Rapid (Analgesic and anti-inflammatory).
The product which belongs to the OTC is Fullgrip (flu remedy).
It carries out imports from Germany, Spain, Switzerland, France, Panama,
Belgium and Brasil among other countries.
It exports to Paraguay.
HABITUAL SUPPLIERS:
-------------------
BROBEL S.A.
TALLERES GRAFICOS MORALES S.A.
UNIFARMA S.A.
FOREIGN TRADE:
In the last twelve months the company has carried out imports for u$s 2.928.956
from the following countries:
FRANCE 1.237.339
SWITZERLAND 783.768
SWEDEN 260.089
OTHERS 647.760
* 180 EMPLOYEES
Warehouse, Packaged and Quality Control:
Parque Ind. Pilar (Ruta Nac.8 Km.60), Pilar, Buenos Aires Province.
Annex: Blanco Encalada 1385, Buenos Aires City, Argentina.
STANDARD BANK
Head Office
BANCO SANTANDER RIO Branch: Chacarita
BANCO DE GALICIA Branch:.No. 23
Credit Risk
-----------
MAY 2012
STANDARD BANK $ 5.979.200
DEUTSCHE BANK 2.363.700
BANCO SANTANDER 285.700
CITIBANK
500
Situation 1: Normal fulfillment
Insurances
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AON SEGUROS S.A.
It is commercially
related with local and foreign companies. Many of them give it their credit
support, not making up to now objections about its payment behaviour.
* FULFILLMENT: WITHOUT OBJECTIONS UP TO NOW
Although this
company is member of an international economical group, credit relation with
it, it must be made with moderation and on very firm basis until updated
accounting information is obtained.
Maximum Credit
Limit USD 167393
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.37 |
|
|
1 |
Rs.87.44 |
|
Euro |
1 |
Rs.68.04 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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 |
|
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.