MIRA INFORM REPORT
|
Report Date : |
08.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
FAMY CARE LIMITED |
|
|
|
|
Registered
Office : |
12-14, 3rd Floor, Brady House, Veer Nariman Road, Fort,
Mumbai-400001, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
30.06.2012 |
|
|
|
|
Date of
Incorporation : |
28.09.1987 |
|
|
|
|
Com. Reg. No.: |
11-044813 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.17.073
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24236MH1987PLC044813 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMF03740C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF1663R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing, Selling and Development of Pharmaceutical Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (59) |
|
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 9520000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and reputed company having a good track
record. Financially company appears to be strong. Performance capability is
high. Liquidity position is good. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitments. The company can be considered for normal 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces of
its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to become
a major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
A+ [Long Term] |
|
Rating Explanation |
Having adequate degree of safety regarding timely servicing of
financial obligation it carry low credit risk. |
|
Date |
12.12.2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered / Corporate Office : |
12-14, 3rd Floor, Brady House, Veer Nariman Road, Fort,
Mumbai-400001, Maharashtra, India |
|
Tel. No.: |
91-22-30289655 / 30289636 |
|
Fax No.: |
91-22-3028
9656 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Plot No. 1608 and 1609, G.I.D.C. Sarigam - 396 155 Gujarat, India |
|
Tel. No.: |
91-260-2780674,
2780502 |
|
Fax No.: |
91-260-2780574 |
|
|
|
|
Factory 2 : |
Plot No. 688/10/11, Siddhi Vinayak Industrial Estate, Opposite Somnath
Temple, Somnath, Daman - 396 210, India |
|
Tel. No.: |
91-260- 224
2484, 224 3279 |
|
Fax No.: |
91-260-224
3279 |
|
|
|
|
Factory 3 : |
Plot No. L-20,Verna Industrial Estate, Salcette,
Verna-403722, Goa, India |
|
|
|
|
Overseas Office 1 : |
PK 7 Route Da Cabassou Remire |
|
Tel. No.: |
91-594-230726 |
|
Fax No.: |
91-594-290645 |
|
|
|
|
Overseas Office 2 : |
Mar 26 Street, Ward 5, Go Vap District, HCM City |
|
Tel. No.: |
91-84-5880322 |
DIRECTORS
AS ON 11.12.2012
|
Name : |
Mr. Sanjeev Jyotiprasad Taparia |
|
Designation : |
Managing Director |
|
Address : |
101/Laxmi Vilas, 10th Floor, 87, Nepean Sea Road,
Mumbai-400006, Maharashtra, India |
|
Date of Birth/Age : |
29.07.1967 |
|
Date of Appointment : |
10.09.1998 |
|
Din No.: |
00157770 |
|
|
|
|
Name : |
Mr. Ashutosh Jyotiprasad Taparia |
|
Designation : |
Managing Director |
|
Address : |
101/Laxmi Vilas, 10th Floor, 87, Nepean Sea Road,
Mumbai-400006, Maharashtra, India |
|
Date of Birth/Age : |
25.01.1973 |
|
Date of Appointment : |
10.09.1998 |
|
Din No.: |
00178771 |
|
|
|
|
Name : |
Mr. Jyotiprasad Taparia |
|
Designation : |
Whole Time Director |
|
Address : |
101/Laxmi Vilas, 10th Floor, 87, Nepean Sea Road,
Mumbai-400006, Maharashtra, India |
|
Date of Birth/Age : |
21.11.1944 |
|
Date of Appointment : |
28.09.1987 |
|
Din No.: |
00157746 |
|
|
|
|
Name : |
Mr. Ajay Lal |
|
Designation : |
Director |
|
Address : |
Villa No. 120, The Laburnam, Sushant Lok-I, Gurgaon-122001, Haryana,
India |
|
Date of Birth/Age : |
08.08.1961 |
|
Date of Appointment : |
13.04.2010 |
|
Din No.: |
00030388 |
|
|
|
|
Name : |
Barry Clare |
|
Designation : |
Director |
|
Address : |
55, Hampstead Way, London, England, Pin Code NWI17DP, United Kingdom |
|
Date of Birth/Age : |
25.06.1953 |
|
Date of Appointment : |
31.12.2011 |
|
Din No.: |
02442602 |
|
|
|
|
Name : |
Mr. Ajay Kumar Vij |
|
Designation : |
Director |
|
Address : |
H. No. L-2, Sarita Vihar, New Delhi-110044, India |
|
Date of Birth/Age : |
28.09.1960 |
|
Date of Appointment : |
31.12.2011 |
|
Din No.: |
00164984 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 11.12.2012
|
Names of Shareholders |
|
No. of Shares |
|
Jyotiprasad K. Taparia |
|
129450 |
|
Urmiladevi J. Taparia |
|
280750 |
|
Ashutosh J. Taparia |
|
247600 |
|
Jyotiprasad K. Taparia (HUF) |
|
183000 |
|
Sanjiv J. Taparia |
|
219250 |
|
Aruna S. Taparia |
|
128500 |
|
Anjali S. Taparia |
|
30000 |
|
Nidhi S. Taparia |
|
30000 |
|
Anjali S. Taparia |
|
160000 |
|
Orizaba Limited, Mauritius |
|
298780 |
|
|
|
|
|
TOTAL
|
|
1707330 |
AS ON 11.12.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
17.50 |
|
Directors
or relatives of directors |
|
82.50 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, Selling and Development of Pharmaceutical Products. |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Copper T |
(Pcs. in Lacs) |
195.00 |
29.37 |
|
Oral Contraceptive Pills |
(OCP) (Cycles in
Lacs) |
5800.00 |
2495.69 |
|
Tubal Rings |
(Pairs in Lacs) |
300.00 |
2.17 |
|
Exacta |
(Pep Smear Kit)
(Pcs in Lacs ) |
25.00 |
0.002 |
|
Injectables |
(Nos. in Lacs) |
650.00 |
6.50 |
NOTE: Since the industrial licensing for Drugs and
Pharmaceuticals has been abolished under the Industrial Policy, the particulars
of licensed capacity are not stated.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||
|
|
|
|||||||||
|
Bankers : |
State Bank of India, Commercial Branch, N. G. N. Vaidya Marg, Mumbai –
400023, Maharashtra, India |
|||||||||
|
|
|
|||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Company Chartered Accountants |
|
Address : |
14th Floor, The Ruby
2 9 , Senapati Bapat Marg, Dadar (West), Mumbai-400028, Maharashtra, India |
|
PAN No: |
AALFS0506L |
|
|
|
|
Subsidiaries : |
|
|
|
|
|
Joint Venture : |
|
|
|
|
|
Other Related Parties : |
|
CAPITAL STRUCTURE
AS ON 30.06.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1707330 |
Equity Shares |
Rs.10/- each
|
Rs.17.073
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.06.2012 |
30.06.2011 |
30.06.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
17.073 |
17.073 |
17.073 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2364.224 |
2189.372 |
3790.246 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2381.297 |
2206.445 |
3807.319 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
254.798 |
44.720 |
222.255 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
254.798 |
44.720 |
222.255 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
17.000 |
|
|
|
|
|
|
|
|
TOTAL |
2636.095 |
2251.165 |
4046.574 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
818.692 |
848.669 |
907.153 |
|
|
Capital work-in-progress |
43.146 |
9.601 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
919.832 |
320.478 |
2018.055 |
|
|
DEFERREX TAX ASSETS |
0.908 |
7.296 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
234.033
|
221.593 |
172.408
|
|
|
Sundry Debtors |
941.519
|
967.215 |
979.280
|
|
|
Cash & Bank Balances |
26.922
|
57.999 |
30.726
|
|
|
Other Current Assets |
144.316
|
2.647 |
0.000
|
|
|
Loans & Advances |
373.510
|
212.673 |
544.686
|
|
Total
Current Assets |
1720.300
|
1462.127 |
1727.100 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
205.594
|
147.099 |
180.485
|
|
|
Other Current Liabilities |
458.091
|
83.301 |
185.967
|
|
|
Provisions |
203.098
|
166.606 |
239.282
|
|
Total
Current Liabilities |
866.783
|
397.006 |
605.734
|
|
|
Net Current Assets |
853.517
|
1065.121 |
1121.366
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2636.095 |
2251.165 |
4046.574 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.06.2012 |
30.06.2011 |
30.06.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2206.549 |
2026.068 |
2579.657 |
|
|
|
Other Income |
96.030 |
18.724 |
41.852 |
|
|
|
TOTAL (A) |
2302.579 |
2044.792 |
2621.509 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
307.299 |
|
|
|
|
|
Purchases of stock-in-trade |
166.934 |
40.562 |
|
|
|
|
Employee benefit expense |
314.938 |
265.653 |
|
|
|
|
Other expenses |
644.754 |
478.368 |
1700.123 |
|
|
|
Prior period items |
0.000 |
140.105 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
43.453 |
(18.243) |
|
|
|
|
TOTAL (B) |
1477.378 |
1266.022 |
1700.123 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
825.201 |
778.770 |
921.386 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
12.970 |
8.930 |
20.121 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
812.231 |
769.840 |
901.265 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
114.822 |
124.203 |
125.830 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
697.409 |
645.637 |
775.435 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
138.860 |
60.265 |
113.177 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
558.549 |
585.372 |
662.258 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2106.200 |
1865.000 |
1277.600 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
55.800 |
58.500 |
66.300 |
|
|
|
Dividend |
17.100 |
8.500 |
7.300 |
|
|
|
Corporate Dividend Tax |
2.800 |
1.400 |
1.200 |
|
|
|
Transfer on Demerger |
0.000 |
275.800 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
2589.049 |
2106.172 |
1865.058 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
2052.100 |
1983.600 |
2073.000 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials & Packing Material |
NA |
160.238 |
148.196 |
|
|
|
Traded Goods |
NA |
28.895 |
234.234 |
|
|
|
Capital Goods |
NA |
17.602 |
18.088 |
|
|
|
Store & Spares |
NA |
5.710 |
3.667 |
|
|
TOTAL IMPORTS |
NA |
212.445 |
404.185 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
327.25 |
342.86 |
452.04 |
|
KEY RATIOS
|
PARTICULARS |
|
30.06.2012 |
30.06.2011 |
30.06.2010 |
|
PAT / Total Income |
(%) |
24.25
|
28.63 |
25.26 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
31.61
|
31.87 |
30.05 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
27.47
|
27.94 |
29.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.29 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.11
|
0.02 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.98
|
3.68 |
2.85 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
REVIEW OF OPERATIONS:
The Company has reported
satisfactory performance for the year against the background turbulent global
business outlook. The Profit after Tax has declined marginally from Rs. 585.400
millions to Rs. 558.500 millions mainly due to MAT applicable for SEZ unit. The
Company has achieved a turnover of Rs. 2206.500 millions (Previous Year Rs.
2026.100 millions) including Product Development Charges/Dossier Revenue of
Rs.223.100 millions (Previous Year Rs. 507.700 millions). The Company has
successfully executed all the orders received from various customers, during
the year.
Further, the
Company has successfully filed 36 Abbreviated New Drug Application (ANDA) with
USFDA till date. The products are being developed under an Agreement with Mylan
Pharmaceuticals Inc. wherein the products will be marketed by them under
Exclusive Marketing Arrangement for USA other than NGO market in US. The
Company has also filed 9 dossiers with Health Canada (TPD) in Canada and has
filed Dossier for 9 products with European Health Authorities till date. The
Company has entered into Marketing Arrangement with leading pharmaceutical
companies for European and Russian Market.
The Company has
signed Technical Collaboration Agreement with Axar Pharmaceutical Inc for
development of Non Contraceptive Products. The Company has committed USD eleven
million for the development of the Non Oral Contraceptive Products, out of
which an amount not exceeding USD six million is proposed to be spent until
June'2013 and balance USD five million until June'2014. The Non Oral
Contraceptive Products which will be developed under the Technical
Collaboration Agreement with Axar Pharmaceutical Inc are expected to contribute
significantly to the top line and bottom line of the Company in the coming
years.
The Company has
launched two products in European market during the year. The company has
entered into Long Term Agreements for three years with UNFPA for businesses in
the Rest of the World Market (other than US and Europe Markets) as of
November'2012 as the company has received the WHO (World Health Organization)
prequalification.
FUTURE PLANS:
The Company has
made good progress in its plan to enter into Regulated Market of United States
of America (U.S.A.), Canada and Europe.
During the year, US
FDA audit was completed for both the units of the company located at Sarigam
and Ahmadabad in the month of June'2012. Subsequently the company received the
audit clearance report from USFDA for the Sarigam facility in the month of
November'2012. The approval of Ahmadabad facility is expected in near future.
The commercial launch of products in US/Canada Market is expected in the first
quarter of calendar year 2013.
The Company plans
to launch 3 more products in European market before end of current financial
year. The company plans to file 2 ANDA for registration with USFDA for US
markets, 2 ANDA's with Health Canada (TPD) in Canada and Dossier for 4 products
with Drug Authorities in European Countries in the current financial year
The Research and
Development Team of the Company is working on Injectable Contraceptives, New
Drug Delivery System (NDDS) in Contraceptives which has good potential in
international market. The Company is also developing Anti�Malarial Product
and Ophthalmic Products.
FIXED ASSETS:
- Leasehold Land
- Building
- Plant and Machinery
- Laboratory Equipment
- Vehicles
- Office Equipment
- Furniture and Fixtures
NEWS:
FAMY CARE RECEIVES US FDA APPROVAL FOR GENERIC
NORDETTE 28 TABLETS
PITTSBURGH
MONDAY,
DECEMBER 31, 2012, [IST]
The US Food and
Drug Administration (FDA) has granted final approval for Famy Care's
Abbreviated New Drug Application (ANDA) for levonorgestrel and ethinyl
estradiol tablets USP, 0.15 mg/0.03 mg. This product is the generic version of
Teva Branded Pharmaceutical Products' Nordette 28 tablets, which are indicated
for the prevention of pregnancy in women who elect to use this product as a
method of contraception.
The product will be distributed in the US by Mylan Pharmaceuticals Inc., and
the company is shipping product immediately.
Heather Bresch, CEO, Mylan said, "The approval and immediate launch of our
levonorgestrel and ethinyl estradiol tablets USP, 0.15 mg/0.03 mg, represents
an exciting advance for the women's health care franchise that Mylan is
establishing in partnership with Famy Care Ltd., one of the world's largest
manufacturers of oral contraceptives. Presently, we have 34 oral contraceptives
pending approval with the FDA and expect to receive additional approvals of
these products beginning in next year's first quarter."
Levonorgestrel and
ethinyl estradiol tablets USP, 0.15 mg/0.03 mg, had US sales of approximately
$60.4 million for the 12 months ending Sept. 30, 2012, according to IMS Health.
Currently, Mylan has
185 ANDAs pending FDA approval representing $80.6 billion in annual sales,
according to IMS Health. Thirty-five of these pending ANDAs are potential
first-to-file opportunities, representing $21.2 billion in annual brand sales,
for the 12 months ending June 30, 2012, according to IMS Health.
Mylan is a global
pharmaceutical company committed to setting new standards in health care.
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 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 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.54.88 |
|
|
1 |
Rs.83.54 |
|
Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
59 |
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.