MIRA
INFORM REPORT
|
Report Date : |
08.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
UNION QUIMICO FARMACEUTICA SA |
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Registered Office : |
Mallorca, 262, Barcelona, 08008 |
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Country : |
Spain |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1966 |
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Com. Reg. No.: |
A08036774 |
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Legal Form : |
Public Subsidiary Company |
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|
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Line of Business : |
manufacturers
of Active Pharmaceutical Ingredients (APIs) and intermediates for the
pharmaceutical industry |
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|
No. of Employees : |
271 employees |
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 : |
Satisfactory |
|
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) |
|
Spain |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
spain - ECONOMIC OVERVIEW
spain's mixed capitalist economy is the 13th largest
in the world, and its per capita income roughly matches that of Germany and
France. However, after almost 15 years of above average GDP growth, the Spanish
economy began to slow in late 2007 and entered into a recession in the second
quarter of 2008. GDP contracted by 3.7% in 2009, ending a 16-year growth trend,
and by another 0.1% in 2010, before turning positive in 2011, making Spain the
last major economy to emerge from the global recession. The reversal in Spain''s
economic growth reflected a significant decline in construction amid an
oversupply of housing and falling consumer spending, while exports actually
have begun to grow. Government efforts to boost the economy through stimulus
spending, extended unemployment benefits, and loan guarantees did not prevent a
sharp rise in the unemployment rate, which rose from a low of about 8% in 2007
to over 20% in 2011. The government budget deficit worsened from 3.8% of GDP in
2008 to 9.2% of GDP in 2010, more than three times the euro-zone limit. Madrid
cut the deficit to 8.5% of GDP in 2011, a larger deficit than the 6% target
negotiated between Spain and the EU. Spain''s large budget deficit and poor
economic growth prospects have made it vulnerable to financial contagion from
other highly-indebted euro zone members despite the government''s efforts to
cut spending, privatize industries, and boost competitiveness through labor
market reforms. Spanish banks'' high exposure to the collapsed domestic
construction and real estate market also poses a continued risk for the sector.
The government oversaw a restructuring of the savings bank sector in 2010, and
provided some $15 billion in capital to various institutions. Investors remain
concerned that Madrid may need to bail out more troubled banks. The Bank of
Spain, however, is seeking to boost confidence in the financial sector by
pressuring banks to come clean about their losses and consolidate into stronger
groups.
|
Source : CIA |
Company name & address
Union Quimico Farmaceutica Sa
Mallorca, 262
Barcelona, 08008
Spain
Tel: +(34) 938670421
Fax: +(34) 934880491
Web: www.uquifa.com
Synthesis
Employees: 271
Company Type: Public Subsidiary
Corporate Family: 5
Companies
Ultimate Parent: Vivimed Labs Ltd
Incorporation Date: 1966
Auditor: Deloitte S.L.
Financials in: USD
(Millions)
Fiscal Year End:
26-Sep-2011
Reporting Currency: Euro
Annual Sales: 76.1
1
Net Income: 4.8
Total Assets: 65.4
Business Description
Uquifa is a pharmaceutical division of Yule Catto plc, an UK-based chemical company. The company is one of the leading manufacturers of Active Pharmaceutical Ingredients (APIs) and intermediates for the pharmaceutical industry. The company offers custom synthesis and contract manufacturing services, including scale-up from laboratory to pilot plant, development of novel synthetic routes, optimizing laboratory developed routes of synthesis, scale-up from pilot plant to commercial and transfer of commercial scale processes. The company also produces antibiotics, bulk pharmaceuticals, inorganic salts and bulk veterinary drugs. Geographically, Uquifa has presence in Mexico, US, Italy, and Spain. The company is headquartered in Barcelona, Spain.
Industry
Industry Biotechnology and Drugs
ANZSIC 2006: 1841 - Human
Pharmaceutical and Medicinal Product Manufacturing
NACE 2002: 2441 - Manufacture
of basic pharmaceutical products
NAICS 2002: 325411 - Medicinal
and Botanical Manufacturing
UK SIC 2003: 2441 - Manufacture
of basic pharmaceutical products
UK SIC 2007: 2110 - Manufacture
of basic pharmaceutical products
US SIC 1987: 2833 - Medicinal
Chemicals and Botanical Products
Key Executives
|
Name |
Title |
|
Mark Ian Robbins |
CEO |
|
Santosh Varalwar |
President, Member Of The Board |
|
Luis Ancina Jose |
Financial Director |
|
Alistair Swanson |
Sales Director & Marketing Director |
|
Jose Luis Alsina Alvarez |
Non Consellor Assistant Secretary |
Registered
No.(ESP): A08036774
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7177989
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7423078
Corporate Overview
Location
Mallorca, 262
Barcelona, 08008
Spain
Tel: +(34) 938670421
Fax: +(34) 934880491
Web: www.uquifa.com
Sales EUR(mil): 54.6
Assets EUR(mil): 48.6
Employees: 271
Fiscal Year End: 26-Sep-2011
Industry: Biotechnology and Drugs
Incorporation Date: 1966
Company Type: Public Subsidiary
Quoted Status: Not Quoted
Registered No.(ESP): A08036774
CEO : Mark Ian Robbins
Contents
Industry Codes
Business Description
Financial Data
Branch Offices
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
1841 - Human Pharmaceutical and Medicinal Product Manufacturing
NACE 2002 Codes:
2441 - Manufacture of basic pharmaceutical products
2442 - Manufacture of pharmaceutical preparations
NAICS 2002 Codes:
325411 - Medicinal and Botanical Manufacturing
325412 - Pharmaceutical Preparation Manufacturing
US SIC 1987:
2833 - Medicinal Chemicals and Botanical Products
2834 - Pharmaceutical Preparations
UK SIC 2003:
2441 - Manufacture of basic pharmaceutical products
24421 - Manufacture of medicaments
UK SIC 2007:
2110 - Manufacture of basic pharmaceutical products
2120 - Manufacture of pharmaceutical preparations
Business
Description
Manufacture of basic pharmaceutical products
More Business
Descriptions
Manufacture of pharmaceutical preparations for human and veterinary use
Pharmaceutical Chemicals Mfr
Uquifa is engaged in developing and manufacturing of complex chemical processes and advanced pharmaceuticals. The company operates four manufacturing sites, one in Mexico, one in Italy, and two in Spain. All these sites are operated under cGMP conditions and inspected by regulatory authorities, including the US FDA, and major pharmaceutical companies. Uquifa markets its products to over 70 countries worldwide and has filed more than 150 active Drug Master Files (DMFs) and 20 are COS approved. The company’s major active pharmaceutical ingredients include bulk pharmaceuticals, antibodies, inorganic salt, and bulk veterinary. Some of the dossiers developed by Uquifa include terbinafine HCL, zolpidem tartrate, pantoprazol sesquihydrate, and levofloxacine. The company developed DMF’s/CTD’s for advanced intermediates and for the final APIs. Currently, UQUIFA has filed 40 Type II DMFs with the FDA and more than 150 a ctive DMF’s worldwide. The various products marketed by the company include Bicalutamide, Lamotrigine, Lansoprazol, Levofloxacine, Meloxicam, Modafinil, Pantoprazol, Quetiapine, Rabeprazole, Terbinafine, Venlafaxine, and Zolpidem products. Bicalutamide is an oral non-steroidal anti-androgen for prostate cancer, which is supplied in 50 mg and 150 mg tablets. Lamotrigine, is an antiepileptic drug of the phenyltriazine class and is available in over 60 countries. Its patent too has expired in Mexico, Spain, US and several European countries. Pantoprazole is a proton pump inhibitor (PPI), which is the only intravenous and tablet available PPI. The ’patent for the product has expired in Mexico and the US in 2005, while it has in expired in Europe during 2009. Quetiapine is an antipsychotic drug and is supplied for oral administration while Rabeprazole is used for short-term healing of a gradual breakdown and is supplied for oral administration as 20mg delayed-release tablets. Terbinafine is an antifungal and is marketed worldwide along with Mexico. Its patent has expired in some of the countries from Europe and US regions. Venlafaxine is an antidepressant, which is a derivate of phenyl ethyl amine and is available in 75 and 150 mg slow release capsules, and 37.5, 50 and 75 mg tablets. Zolpidem is a hypnotic and tranquilliser available as 5 and 10 mg tablets. The product’s patent has expired in the US, and some of European countries. The company offers speciality services in the areas of ozonolysis, sulphur chemistry, chlorination, molecular distillation, and micronization. In addition, it also offers services in the areas of hydrogenation, nitration and cryogenic reactions. The major services offered to pharmaceutical industry include development of novel synthetic routes and optimization of existing laboratory processes, scale-up from laboratory to pilot plant, scale-up from pilot plant to commercial, transformation of commercial scale processes and optimization of laboratory developed routes of synthesis to reduce isolation steps, improve yield, reduce batch production time and eliminate the use of toxic and/or dangerous reagents.The company has a well-qualified and experienced research and development (R&D) group with 40 researchers. The group's main focus is on the discovery and development of chemical processes suitable for the efficient manufacture of APIs and key intermediates. The company's R&D Laboratory is in Sant Celoni. The 800 square meters laboratory include the Synthesis and Analytical development laboratories, with 20 fume hoods (3 walk in), a kilolab and a library. The synthesis laboratory equipment includes several hydrogenators of different sizes, a freeze drier, liquid-liquid extraction columns and a molecular distiller. The objective of the analytical division of R&D is to develop and validate new analytical methods working in parallel with synthetic development team, to offer analytical support on pilot plant processes, to provide stability testing on finished products and related intermediates.In May 2011, the company appointed Jean-Pierre Diehl as new chief operating officer.
Uquifa is a
pharmaceutical division of Yule Catto plc, an UK-based chemical company. The
company is one of the leading manufacturers of Active Pharmaceutical
Ingredients (APIs) and intermediates for the pharmaceutical industry. The
company offers custom synthesis and contract manufacturing services, including
scale-up from laboratory to pilot plant, development of novel synthetic routes,
optimizing laboratory developed routes of synthesis, scale-up from pilot plant
to commercial and transfer of commercial scale processes. The company also
produces antibiotics, bulk pharmaceuticals, inorganic salts and bulk veterinary
drugs. Geographically, Uquifa has presence in Mexico, US, Italy, and Spain. The
company is headquartered in Barcelona, Spain.
Pharmaceutical and Medicine Manufacturing
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Corporate Family |
Corporate
Structure News: |
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Vivimed Labs Ltd |
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Union Quimico Farmaceutica Sa |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
|
Vivimed Labs Ltd |
Parent |
Hyderabad |
India |
Chemical Manufacturing |
140.1 |
1,060 |
|
|
Union Quimico Farmaceutica Sa |
Subsidiary |
Barcelona |
Spain |
Biotechnology and Drugs |
76.1 |
271 |
|
|
Recently acquired (previously owned by Yule Catto & Co
plc).See corporate
structure news on
Vivimed Labs Ltd for details |
|||||||
|
Uquifa Mexico, S.A. De C.V. |
Subsidiary |
Jiutepec, Morelos |
Mexico |
Chemical Manufacturing |
2.0 |
175 |
|
|
Uquifa Mexico S.A. de C.V. |
Subsidiary |
Jiutepec, Morelos |
Mexico |
Biotechnology and Drugs |
7.5 |
|
|
|
Vivimed Labs Europe Ltd |
Subsidiary |
Huddersfield |
United Kingdom |
Chemical Manufacturing |
18.1 |
27 |
|
Competitors Report
|
Company Name |
Location |
Employees |
Ownership |
|
Corporacion Medichem Sl |
Sant Joan Despi, Barcelona, Spain |
34 |
Private |
|
Sanofi SA |
Paris, France |
113,719 |
Public |
|
STADA Arzneimittel AG |
Bad Vilbel, Germany |
7,867 |
Public |
|
Teva Pharmaceutical Industries Limited |
Petah Tikva, Israel |
45,754 |
Public |
Executive report 
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Board of
Directors |
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Presidente |
Chairman |
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Consejero |
Director/Board Member |
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Member Of The Board |
Director/Board Member |
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Member Of The Board |
Director/Board Member |
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President, Member Of The Board |
Director/Board Member |
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Member Of The Board |
Director/Board Member |
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Executives |
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CEO |
Chief Executive Officer |
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President, Member Of The Board |
President |
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Presidente |
President |
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Non Consellor Assistant Secretary |
Administration Executive |
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Non Consellor Secretary |
Administration Executive |
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Financial Director |
Finance Executive |
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Sales Director & Marketing Director |
Sales Executive |
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Marketing Director |
Marketing Executive |
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Production Manager, Technical Manager |
Engineering/Technical Executive |
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Commercial Manager |
Commercial Executive |
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Single Partner |
Partner |
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Area Manager |
Other |
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Area Manager |
Other |
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Annual profit & loss
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Charges |
69.6 |
67.1 |
77.7 |
|
Stock Reduction |
- |
0.0 |
- |
|
Supplies |
33.3 |
30.6 |
36.4 |
|
Consumption
of Raw Materials |
30.3 |
30.2 |
35.1 |
|
Miscellaneous
External Expenditures |
3.0 |
0.4 |
1.3 |
|
Staff Costs |
15.9 |
15.7 |
17.2 |
|
Wages
and Salaries |
12.6 |
12.4 |
13.6 |
|
Social
Security Costs |
3.3 |
3.3 |
3.7 |
|
Depreciation |
4.6 |
5.7 |
6.5 |
|
Allowance for
Trade Operations |
0.2 |
0.1 |
-0.1 |
|
Stock
Provision Variation |
0.2 |
0.0 |
-0.1 |
|
Losses
from Unrecovered Receivables |
0.0 |
0.1 |
0.0 |
|
Other Operating
Charges |
14.2 |
14.1 |
15.7 |
|
External
Services |
13.6 |
13.5 |
14.9 |
|
Taxes |
0.5 |
0.6 |
0.6 |
|
Other
Operating Expenses |
0.1 |
- |
0.3 |
|
Operating Benefits |
5.4 |
3.5 |
8.0 |
|
Financials and
Similar Charges |
0.2 |
0.2 |
0.1 |
|
Due
to Liabilities With Group Companies |
0.1 |
0.1 |
- |
|
Due
to Other Liabilities |
0.1 |
0.1 |
0.1 |
|
Changes in
Financial Investment Provisions |
0.0 |
0.1 |
0.3 |
|
Exchange Losses |
0.4 |
- |
0.4 |
|
Net Financial
Income |
- |
0.2 |
- |
|
Profit From
Ordinary Activities |
5.4 |
3.7 |
7.5 |
|
Losses From Assets
and Securities Portfolio |
- |
- |
0.0 |
|
Extraordinary
Profit |
0.0 |
0.0 |
0.0 |
|
Profit Before
Taxes |
5.4 |
3.7 |
7.5 |
|
Corporation Tax |
0.8 |
0.6 |
1.0 |
|
Financial Year Result
(Profit) |
4.6 |
3.1 |
6.4 |
|
Income |
74.2 |
70.2 |
84.1 |
|
Net Total Sales |
72.3 |
69.6 |
81.4 |
|
Sales |
72.2 |
69.5 |
81.4 |
|
Rendering
of Services |
0.1 |
0.1 |
0.0 |
|
Increase in Stocks |
0.5 |
- |
2.2 |
|
Miscellaneous
Operating Income |
0.8 |
0.1 |
0.2 |
|
Auxiliary
Income From Current Management |
0.7 |
0.0 |
0.2 |
|
Grants |
0.1 |
0.1 |
0.0 |
|
Income From Equity
Investment |
0.4 |
0.4 |
0.2 |
|
In
Group Companies |
0.4 |
0.4 |
0.2 |
|
Third
Parties |
0.0 |
0.0 |
0.1 |
|
Income From
Miscellaneous Interests |
0.2 |
- |
0.0 |
|
Profit
on Financial Investment |
0.2 |
- |
0.0 |
|
Gains from
Exchange Rate |
- |
0.2 |
- |
|
Negative
Financial Results |
0.0 |
- |
0.5 |
|
Capital Grants
Transferred to Profit and Loss |
0.0 |
0.0 |
0.0 |
Annual Balance
Sheet
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 |
|
|
|
|
|
|
Research
and Development Costs |
- |
- |
0.1 |
|
Software |
0.1 |
0.2 |
0.1 |
|
Total Intangible
Fixed Assets |
0.1 |
0.2 |
0.2 |
|
Land
and Construction |
7.2 |
7.9 |
7.6 |
|
Technical
Installations and Machinery |
4.1 |
5.8 |
5.7 |
|
Other
Installations, Tools, and Furniture |
3.9 |
5.6 |
5.5 |
|
Tangible
Fixed Assets Under Construction |
1.7 |
0.6 |
3.0 |
|
Other
Tangible Assets |
0.3 |
0.4 |
0.4 |
|
Total Tangible
Fixed Assets |
17.2 |
20.3 |
22.1 |
|
Investments
in Group Companies |
0.1 |
0.0 |
0.0 |
|
Receivables
from Group Companies |
11.1 |
9.0 |
- |
|
Long-Term
Securities Portfolio |
0.0 |
0.0 |
0.0 |
|
Long-Term
Guarantees and Deposits |
0.0 |
0.0 |
0.0 |
|
Financial
Investments |
11.3 |
9.1 |
0.1 |
|
Total Fixed Assets |
28.6 |
29.6 |
22.4 |
|
Raw
Materials and Other Consumables |
3.3 |
2.8 |
3.3 |
|
Goods
in Process |
3.0 |
3.3 |
2.4 |
|
Finished
Products |
7.0 |
6.9 |
7.6 |
|
Total Stocks |
13.3 |
13.0 |
13.3 |
|
Trade
Debtors |
17.3 |
17.5 |
17.0 |
|
Receivables,
Group Companies |
0.2 |
0.4 |
0.2 |
|
Other
Debtors |
0.0 |
0.0 |
0.0 |
|
Staff |
0.0 |
- |
0.0 |
|
Public
Bodies |
1.8 |
1.6 |
1.6 |
|
Total Debtors |
19.4 |
19.6 |
18.9 |
|
Receivables
from Group Companies |
- |
10.0 |
4.9 |
|
Other
Receivables |
- |
- |
0.0 |
|
Short-Term
Guarantees and Deposits |
0.0 |
0.0 |
- |
|
Total Short-Term
Investments |
0.0 |
10.1 |
4.9 |
|
Cash |
3.4 |
1.6 |
2.4 |
|
Prepayments and
Accrued Income |
0.5 |
0.4 |
0.3 |
|
Total Current Assets |
36.6 |
44.7 |
39.7 |
|
Total Assets |
65.2 |
74.3 |
62.1 |
|
Revaluation
Reserves |
1.4 |
1.8 |
1.4 |
|
Legal
Reserve |
0.8 |
0.9 |
0.9 |
|
Statutory
Reserves |
0.0 |
0.0 |
0.0 |
|
Miscellaneous
Reserves |
24.0 |
29.5 |
22.6 |
|
Total Reserves |
24.8 |
30.3 |
23.5 |
|
Profit or Loss for
the Financial Year |
4.6 |
3.2 |
6.1 |
|
Total Equity |
41.0 |
46.2 |
41.5 |
|
Capital
Grants |
0.1 |
- |
0.0 |
|
Total Deferred Income |
0.1 |
- |
0.0 |
|
Other
Provisions |
0.0 |
0.0 |
0.0 |
|
Total Provisions for Liabilities and
Charges |
0.0 |
0.0 |
0.0 |
|
Loans
and Other Liabilities |
- |
2.0 |
- |
|
Total Amounts Owed
to Credit Institutions |
- |
2.0 |
- |
|
Amounts
Owed to Group Companies |
- |
5.0 |
- |
|
Total Debts with
Group or Affiliated Companies |
- |
5.0 |
- |
|
Other
Creditors |
0.5 |
0.0 |
0.1 |
|
Total Other
Creditors |
0.5 |
0.0 |
0.1 |
|
Total Long Term Liabilities |
0.5 |
7.1 |
0.1 |
|
Loans
and Other Liabilities |
3.4 |
3.3 |
- |
|
Total Amounts Owed
to Credit Institutions |
3.4 |
3.3 |
- |
|
Amounts
Owed to Group Companies |
2.1 |
1.3 |
2.6 |
|
Total Short-Term
Amounts Owed to Group and Associa |
2.1 |
1.3 |
2.6 |
|
Amounts
Owed for Purchases of Goods or Services |
14.3 |
13.7 |
14.8 |
|
Total Trade
Creditors |
14.3 |
13.7 |
14.8 |
|
Public
Bodies |
1.3 |
0.8 |
1.3 |
|
Miscellaneous
Debts |
0.0 |
0.0 |
0.0 |
|
Wages
and Salaries Payable |
2.2 |
1.7 |
1.7 |
|
Total Other
Creditors |
3.6 |
2.5 |
3.0 |
|
Prepayments and
Accrued Income |
0.1 |
0.1 |
0.1 |
|
Total Short Term Creditors |
23.5 |
21.0 |
20.5 |
|
Total
Liabilities and Equity |
65.2 |
74.3 |
62.1 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.52 |
|
UK Pound |
1 |
Rs.88.49 |
|
Euro |
1 |
Rs.70.20 |
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.