MIRA
INFORM REPORT
|
Report Date : |
22.03.2012 |
IDENTIFICATION DETAILS
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Name : |
ETHYPHARM |
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Registered Office : |
194, Bureaux |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
15.06.1978 |
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Com. Reg. No.: |
311999833 |
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Legal Form : |
Public Subsidiary |
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Line of Business : |
Manufacture of basic pharmaceutical products |
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No. of Employees : |
579 |
RATING & COMMENTS
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MIRAs 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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Status : |
Good |
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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 September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
Company name and address
Ethypharm
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Business
Description
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Ethypharm |
Industry
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Industry |
Biotechnology and Drugs |
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ANZSIC 2006: |
1841 - Human Pharmaceutical and Medicinal
Product Manufacturing |
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NACE 2002: |
2441 - Manufacture of basic pharmaceutical
products |
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NAICS 2002: |
32541 - Pharmaceutical and Medicine
Manufacturing |
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UK SIC 2003: |
2441 - Manufacture of basic pharmaceutical
products |
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US SIC 1987: |
2834 - Pharmaceutical Preparations |
Key Executives
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News
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1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064
Corporate Overview
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The Strategic Initiatives report is created using technology to
extract meaningful insights from analyst reports about a company's strategic
projects and investments. More about Strategic Initiatives
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Product |
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Hugues Lecat, chairman and CEO of the management board of Ethypharm,
said, βWe are delighted to see NP PHARM joint the COLORCON group. This new shareholder
will permit NP Pharm to reinforce its development and growth projects. This
cession will enable us to go on investing in the growth of Ethypharm : in
conformity with our strategy, the Group will continue to invest in its
R&D sites, notably that of Grand Quevilly, European state of the art
development pole in which we have invested over 15 million Euros over the
last two years.βApr 19, 2010Ethypharm Moves Research And Development Activities From
Canada To FranceEthypharm, a French pharmaceutical company, has announced the
cession of its research and development center in Laval (Montreal), Canada.
The research and development center of Laval, certified by both Canadian and
American Health Authorities, was dedicated to the development of oral modified
release form medicines and employed 31 people.The pharmaceutical company,
specialized in drug delivery, will concentrate all its development activities
in France, in its new research and development centers of Grand Quevilly and
Chateauneuf-en-Thymerais, at the closest to its production capabilities. |
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The research and development center of Laval, certified by both
Canadian and American Health Authorities, was dedicated to the development of
oral modified release form medicines and employed 31 people.The
pharmaceutical company, specialized in drug delivery, will concentrate all
its development activities in France, in its new research and development
centers of Grand Quevilly and Chateauneuf-en-Thymerais, at the closest to its
production capabilities. The site of Grand Quevilly (near Rouen) received
about EUR15 million investment over the past two years. Ethypharmβs new
convergence strategy aims at making its plant of Grand Quevilly a hub of
multidisciplinary specialists, in the fields of galenic, biotech, and
industrial scale-up. It should thus encourage transfer of training between
research and development and industrial teams, the company said. Hugues
Lecat, chairman and CEO of the management board of Ethypharm, said: "Our
ambition is to carry on investing in new technologies and innovative forms,
on our two French sites. |
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Sales and Distribution |
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Feb 28, 2011Ethypharm Sells Indian Subsidiary To Athena
PharmEthypharm, a French pharmaceutical company, sold its Indian operations
to Athena Pharm in order to refocus its activities on Europe, the US, China
and Japan; different markets where Ethypharmβs know-how and its competence
in the development and registration sectors are renowned.Present in India
since 1997, Ethypharm employed 80 people in production, formulation,
development and marketing. Athena Pharm will respect all contracts, and
previous technical and commercial commitments of Ethypharm former Indian
subsidiary and continue to provide best in class and seamless service to its
clients. Hugues Lecat, chairman and CEO of the management board of Ethypharm,
said, "The sale of our Indian subsidiary is part of the Ethypharmβs
strategy to continue its growth by focusing our resources on our most
profitable markets.βFeb 07, 2011Ethypharm Appoints Bruno Delie As
Executive Vice President Of Business DevelopmentEthypharm, a French
pharmaceutical company, has appointed Bruno Delie as executive vice president
of business development. Delie is also a member of the management board and
he reports to Hugues Lecat, chairman and CEO of the management board.Delie
began his career in Germany and Europe, where he held various strategic
positions within Parke Davis, Roquette and Prographarm Group. In 2000, he
decided to join Ethypharm as business development director Europe, and became
vice president sales and marketing in 2004. |
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Corporate Structure News
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Ethypharm |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Paris |
France |
Miscellaneous Financial Services |
25.6 |
14 |
|
|
Subsidiary |
Paris |
France |
Personal Services |
668.2 |
5,661 |
|
|
Subsidiary |
Paris |
France |
Personal Services |
3.5 |
34 |
|
|
Subsidiary |
Paris |
France |
Personal Services |
2.3 |
|
|
|
Subsidiary |
Herrenberg, Baden-WΓΌrttemberg |
Germany |
Business Services |
206.1 |
1,010 |
|
|
Subsidiary |
St Ouen L Aumone |
France |
Healthcare Facilities |
|
749 |
|
|
Subsidiary |
Lille |
France |
Healthcare Facilities |
23.4 |
149 |
|
|
Subsidiary |
St Cloud |
France |
Biotechnology and Drugs |
154.8 |
579 |
|
|
Subsidiary |
Courville Sur Eure |
France |
Metal Mining |
323.9 |
389 |
|
|
Subsidiary |
Massy |
France |
Rental and Leasing |
83.9 |
374 |
|
|
Subsidiary |
Massy |
France |
Rental and Leasing |
14.0 |
|
|
|
Subsidiary |
Lisses |
France |
Biotechnology and Drugs |
50.0 |
191 |
|
|
Subsidiary |
Bagno A Ripoli, Firenze |
Italy |
Miscellaneous Capital Goods |
33.1 |
55 |
|
|
Subsidiary |
Fulda, Hessen |
Germany |
Personal and Household Products |
|
29 |
|
|
Subsidiary |
Kempele |
Finland |
Electronic Instruments and Controls |
19.4 |
50 |
|
|
Subsidiary |
Redwitz A.D.Rodach, Bayern |
Germany |
Miscellaneous Capital Goods |
|
35 |
|
|
Subsidiary |
Levallois Perret |
France |
Commercial Banks |
331.9 |
34 |
|
|
Subsidiary |
Kozyatagi-Kadikoy, Istanbul |
Turkey |
Construction Services |
30.0 |
200 |
|
|
Subsidiary |
Yainville |
France |
Construction - Supplies and Fixtures |
60.7 |
105 |
|
|
Subsidiary |
Comines |
France |
Fabricated Plastic and Rubber |
25.0 |
80 |
|
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Subsidiary |
Wiesbaden, Hessen |
Germany |
Construction - Raw Materials |
|
35 |
|
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Subsidiary |
Petit-Rechain |
Belgium |
Beverages (Alcoholic) |
7.8 |
7 |
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Subsidiary |
Plovdiv |
Bulgaria |
Miscellaneous Capital Goods |
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Subsidiary |
Paris |
France |
Business Services |
147.8 |
34 |
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Subsidiary |
Paris |
France |
Advertising |
15.7 |
7 |
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Subsidiary |
Canelas Vng |
Portugal |
Miscellaneous Capital Goods |
6.2 |
14 |
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Subsidiary |
Peschiera Borromeo, Milano |
Italy |
Miscellaneous Capital Goods |
57.3 |
9 |
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Subsidiary |
Oyonnax |
France |
Miscellaneous Capital Goods |
1.6 |
7 |
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Subsidiary |
St Ouen L Aumone |
France |
Commercial Banks |
|
4 |
|
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Subsidiary |
St Ouen L Aumone |
France |
Business Services |
115.6 |
344 |
|
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Subsidiary |
Milano, Milano |
Italy |
Electronic Instruments and Controls |
0.2 |
1 |
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Subsidiary |
Velizy Villacoublay |
France |
Commercial Banks |
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Subsidiary |
Paris |
France |
Restaurants |
50.3 |
374 |
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Executives Report
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Annual Profit & Loss
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
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Consolidated |
No |
No |
No |
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Total income |
172.2 |
161.9 |
216.7 |
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Net sales |
154.8 |
148.0 |
198.2 |
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Unfinished work in progress |
4.4 |
- |
2.7 |
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Own work capitalised |
7.8 |
11.4 |
11.8 |
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Subsidies for operating costs |
0.0 |
0.1 |
0.0 |
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Supplementary operating income |
5.2 |
2.6 |
3.8 |
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Other operating income |
0.0 |
- |
0.2 |
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Other external charges |
47.4 |
55.9 |
53.3 |
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Cost of goods sold |
39.0 |
30.7 |
47.6 |
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Taxes and social security costs |
3.3 |
5.1 |
5.6 |
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Social charges |
14.6 |
14.4 |
16.4 |
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Total payroll costs |
34.4 |
29.5 |
30.7 |
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Cost of stock depreciation and amortisation |
1.6 |
1.8 |
1.2 |
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Fixed asset depreciation and amortisation |
13.3 |
13.2 |
12.2 |
|
Other operating costs |
1.0 |
0.7 |
0.6 |
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Total operating costs |
152.0 |
150.2 |
166.9 |
|
Net operating income |
20.2 |
11.8 |
49.8 |
|
Total financial income |
16.4 |
14.0 |
17.6 |
|
Interest payable on loans |
0.8 |
2.1 |
2.3 |
|
Other expenses |
9.0 |
18.1 |
19.8 |
|
Total expenses |
9.9 |
20.2 |
22.1 |
|
Profit before tax |
26.8 |
5.5 |
45.2 |
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Extraordinary income |
11.4 |
2.1 |
1.4 |
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Extraordinary expenses |
15.7 |
7.9 |
7.9 |
|
Total taxation |
- |
- |
1.0 |
|
Profit distributed to employees |
1.4 |
- |
2.5 |
|
Net profit |
22.4 |
0.1 |
35.3 |
|
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Annual Balance
Sheet |
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Financials in:
USD (mil) |
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Issued capital |
1.8 |
1.9 |
1.8 |
|
Share premium account |
6.2 |
6.6 |
6.4 |
|
Legal reserves |
0.8 |
0.7 |
0.5 |
|
Other reserves |
0.2 |
0.2 |
0.2 |
|
Total reserves |
28.3 |
30.3 |
29.3 |
|
Profits for the year |
22.7 |
0.1 |
33.5 |
|
Profit brought forward from previous year(s) |
61.1 |
65.2 |
46.2 |
|
Total stockholders equity |
121.1 |
105.0 |
118.0 |
|
Provisions and allowances |
8.2 |
12.3 |
11.1 |
|
Trade creditors |
19.2 |
17.9 |
17.7 |
|
Advances received |
0.4 |
0.1 |
0.1 |
|
Bank loans and overdrafts |
15.0 |
21.4 |
24.2 |
|
Current bank debts |
0.0 |
1.4 |
0.0 |
|
Other loans |
6.4 |
6.8 |
6.0 |
|
Other liabilities |
0.2 |
1.1 |
0.4 |
|
Debts on fixed assets |
2.4 |
2.2 |
1.9 |
|
Income stated in advance |
3.5 |
4.6 |
8.6 |
|
Taxation and social security |
13.1 |
11.2 |
12.4 |
|
Total current liabilities |
45.2 |
44.2 |
48.1 |
|
Total debts |
60.3 |
65.5 |
71.5 |
|
Regularisation account |
0.1 |
0.1 |
0.3 |
|
Total liabilities (including net worth) |
189.7 |
182.9 |
200.9 |
|
Patents |
2.9 |
2.9 |
3.7 |
|
Goodwill |
38.8 |
41.5 |
40.2 |
|
Other intangibles |
17.4 |
19.7 |
15.6 |
|
Land |
0.1 |
0.1 |
0.2 |
|
Buildings |
14.8 |
12.0 |
6.3 |
|
Other fixed assets |
19.6 |
21.2 |
17.0 |
|
Long-term investments |
1.4 |
5.3 |
4.2 |
|
Other financial assets |
10.7 |
12.0 |
15.5 |
|
Total non-current assets |
105.7 |
114.7 |
102.7 |
|
Prepayments |
0.4 |
2.1 |
0.7 |
|
Net stocks and work in progress |
21.9 |
16.8 |
15.7 |
|
Trade debtors |
24.2 |
30.7 |
36.7 |
|
Other receivables |
4.6 |
4.4 |
8.1 |
|
Prepaid expenses |
0.8 |
0.9 |
0.6 |
|
Cash and liquid assets |
16.6 |
7.1 |
24.0 |
|
Marketable securities |
12.1 |
- |
4.2 |
|
Total current assets |
80.5 |
62.0 |
90.1 |
|
Prepaid expenses and deferred costs |
3.5 |
6.1 |
8.1 |
|
Total assets |
189.7 |
182.9 |
200.9 |
|
|
|
Annual Ratios |
|
Financials in:
USD (mil) |
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
1.80 |
1.40 |
1.90 |
|
Quick ratio |
1.30 |
1.00 |
1.50 |
|
Total liabilities to net worth |
1.03% |
1.88% |
1.42% |
|
Net worth to total assets |
0.31% |
0.19% |
0.25% |
|
Collection period |
46.80 |
61.10 |
59.10 |
|
Stock turnover rate |
7.20 |
9.10 |
12.00 |
|
Asset turnover |
0.83% |
0.84% |
0.94% |
|
Profit margin |
0.17% |
0.04% |
0.23% |
|
Return on assets |
0.14% |
0.03% |
0.21% |
|
Shareholders' return |
0.46% |
0.16% |
0.85% |
|
Sales per employee |
1,260.99 |
1,226.76 |
1,535.13 |
|
Profit per employee |
218.17 |
45.63 |
350.23 |
|
Average wage per employee |
280.06 |
244.28 |
237.57 |
|
Net worth |
121.1 |
105.0 |
118.0 |
|
Number of employees |
608 |
569 |
579 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.59 |
|
|
1 |
Rs.80.34 |
|
Euro |
1 |
Rs.67.14 |
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 SCs 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.