|
Report Date : |
11.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
UNIPHARM LTD |
|
|
|
|
Registered Office : |
P.O. Box 21429 (61213), 145 Bialik Street, Ramat Gan 5252339 |
|
|
|
|
Country : |
Israel |
|
|
|
|
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 : |
Having 50
employees (had some 25 as of mid 2012). |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Israel |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
israel - ECONOMIC OVERVIEW
Israel has a technologically advanced market economy. Its major imports
include crude oil, grains, raw materials, and military equipment. Cut diamonds,
high-technology equipment, and pharmaceuticals are among the leading exports.
Israel usually posts sizable trade deficits, which are covered by tourism and
other service exports, as well as significant foreign investment inflows. The
global financial crisis of 2008-09 spurred a brief recession in Israel, but the
country entered the crisis with solid fundamentals - following years of prudent
fiscal policy and a resilient banking sector. The economy has recovered better
than most advanced, comparably sized economies. In 2010, Israel formally
acceded to the OECD. Israel's economy also has weathered the Arab Spring
because strong trade ties outside the Middle East have insulated the economy
from spillover effects. Natural gasfields discovered off Israel's coast during
the past two years have brightened Israel's energy security outlook. The
Leviathan field was one of the world's largest offshore natural gas finds this
past decade, and production from the Tama field is expected to meet all of
Israel's natural gas demand beginning mid-2013. In mid-2011, public protests
arose around income inequality and rising housing and commodity prices. The
government formed committees to address some of the grievances but has
maintained that it will not engage in deficit spending to satisfy populist
demands.
|
Source : CIA |
UNIPHARM LTD.
Telephone 972 3 613 50 50
Fax 972 3 613 51 51
P.O. Box 21429 (61213)
145 Bialik Street
RAMAT GAN 5252339 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 1,503
shares amounting to NIS 1,503.00 were issued.
1. Dr. Ron Tomer, 33.33%,
2. Dr. Gil Tomer, 33.33%,
3. Ms. Dafna Tomer Yakobs, 33.33%.
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.
Distribution is carried out by CHEMIPAL LTD.
Among local
services providers: FACTOR PATENT ATTORNEYS.
Manufacturing
activities are carried out by subject's affiliated company (50%) TRIMA ISRAEL PHARMACEUTICAL PRODUCTS MAABAROT LTD.
Operating from
rented premises, on an area of 500 sq. meters, in 145 Bialik Street, Ramat Gan.
Subject also uses warehouse facilities located at subsidiary TRIMA.
Having 50
employees (had some 25 as of mid 2012).
Financial data not
forthcoming.
There are no
charges registered on the company’s assets.
Sales figures not
forthcoming.
MOTIVAN LTD., a holding company owned by Tomer
family.
TRIMA ISRAEL PHARMACEUTICAL PRODUCTS MAABAROTH
LTD.,
50% owned by 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.
I.P.R. ISRAEL PHARMACEUTICAL RESOURCES (1995)
LTD.
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 May 2013 PFIZER filed a lawsuit against
subject in the Tel Aviv District Court for the sum of NIS 10 million, claiming
that subject is manufacturing an imitation preparation to 'Viagra' thus
violating its patent on the drug.
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 Vice General Manager, Dr. Ron Tomer, refused to disclose
financial data at all.
Subject is a long established company.
Both subject's shareholders (also VPs in subject) Dr. Ron Tomer and Dr.
Gil Tomer are members of the Board of The Pharmaceutical Society of Israel
(PSI). Dr. Gil Tomer serves as the Vice Chairman of PSI's Board of Directors
and carries other positions in the organization.
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.
Annual sales
volume in the local pharmaceuticals market is estimated at NIS 4 billion,
divided into NIS 1.8 billion to the institutional sector (HMO's, hospitals,
etc.) and NIS 1.2 billion to the private sector (including pharma retail
chains).
In 2009 sales of
drugs for human consumption (including from import) reached US$ 1,409 million
(US$ 1,416 million in 2008), of which estimated over US$ 1,100 million were
from import.
The
non-prescription drugs market in Israel is valued at some 15% of the local
whole drugs market, with annual growth rate of circa 15%.
In 2011 import of
medicines reached US$ 497 million (were US$ 555 million in 2010).
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.60.13 |
|
UK Pound |
1 |
Rs.89.52 |
|
Euro |
1 |
Rs.76.89 |
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.