MIRA INFORM REPORT
|
Report Date : |
30.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
JOHNSON AND JOHNSON LIMITED |
|
|
|
|
Registered
Office : |
Spencer’s Building, 30, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 (Profit and Loss Account) |
|
|
|
|
Date of
Incorporation : |
05.09.1957 |
|
|
|
|
Com. Reg. No.: |
11-010928 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.144.000
Millions (As on 31.03.2011) |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33110MH1957PLC010928 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMJ05781G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ0866E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Selling of various Healthcare Products. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (57) |
|
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 32000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exists |
|
|
|
|
Comments : |
Subject is a subsidiary of holding company “Johnson and Johnson,
U.S.A.” It is a well established company having fine track record. The latest balance sheet of 2012 is not available with us. As per the Profit and Loss Statement of 2012 and the financial
statement during 2011, there appears an increase in the profitability of the
company. Financial position appears to be good. There appear no external
borrowings recorded by the company. Trade relations are fair. Business is active. Payment terms are
regular and as per commitment. In view of strong holding company the subject can be considered good
for 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.
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.
INFORMATION DECLINED
Management Non Co-operative (91-22-23861431)
LOCATIONS
|
Registered Office : |
Spencer’s Building, 30, |
|
Tel. No.: |
91-22-23861431 / 24241431/23861451 /
66646464 |
|
Fax No.: |
91-22-23871482 / 23801482 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 25.09.2012
|
Name : |
Mr. Swami Kumar Gajanan Raote |
|
Designation : |
Managing Director |
|
Address : |
Samarath Ashraya, 64/P, Parel, Mumbai – 400012, Maharashtra,
India |
|
Date of Birth/Age : |
23.05.1964 |
|
Qualification : |
B. Pharm, P.G.D.M., D.C.P. |
|
Date of Appointment : |
02.04.2009 |
|
DIN No.: |
02610317 |
|
PAN No.: |
AABPR2709J |
|
|
|
|
Name : |
Mr. Sushobhan Dasgupta |
|
Designation : |
Whole-time director |
|
Address : |
Care of Johnson and Johnson Limited, 30 Forjett Street, Mumbai -
400036, Maharashtra, India |
|
Date of Birth/Age : |
02.12.1962 |
|
Date of Appointment : |
27.06.2012 |
|
DIN No.: |
06381955 |
|
|
|
|
Name : |
Mr. Rajan Sunderdas Tejua |
|
Designation : |
Whole time Director |
|
Address : |
5 W, Shimira 16th Road, Khar (West), Mumbai - 400052,
Maharashtra, India |
|
Date of Birth/Age : |
17.09.1960 |
|
Date of Appointment : |
14.12.2006 |
|
DIN No.: |
01478969 |
|
PAN No.: |
AACPT0045N |
|
|
|
|
Name : |
Mr. Anil Vasantrai Upadhyay |
|
Designation : |
Whole-time director |
|
Address : |
Flat No.42, Alka Building major Parmeshwaraan Road, Opposite SIWS
College Wadala, Mumbai – 400031, Maharashtra, India |
|
Date of Birth/Age : |
22.09.1958 |
|
Date of Appointment : |
22.12.2011 |
|
DIN No.: |
00236635 |
|
|
|
|
Name : |
Mr. Suresh Narsappa Talwar |
|
Designation : |
Alternate Director |
|
Address : |
10, Shiv Shanti Bhuvan, 146, |
|
Date of Birth/Age : |
21.11.1938 |
|
Date of Appointment : |
28.04.2011 |
|
DIN No.: |
00001456 |
|
|
|
|
Name : |
Mr. Marco Philipus Ardeshir Wadia |
|
Designation : |
Director |
|
Address : |
Thakur Nivas 173, |
|
Date of Birth/Age : |
30.01.1956 |
|
Date of Appointment : |
28.11.2003 |
|
DIN No.: |
00244357 |
|
|
|
|
Name : |
Mr. Chao Xian He |
|
Designation : |
Director |
|
Address : |
8 Cuscaden Walk 308 – 01, Four Season Park, Singapore - 249692 |
|
Date of Appointment : |
27.06.2012 |
|
DIN No.: |
06381950 |
KEY EXECUTIVES
|
Name : |
Mr. Anil Vasantrai Upadhyay |
|
Designation : |
Secretary |
|
Address : |
Flat No.42, Alka Building major Parmeshwaraan Road, Opposite SIWS
College Wadala, Mumbai – 400031, Maharashtra, India |
|
Date of Birth/Age : |
22.09.1958 |
|
Date of Appointment : |
01.09.2000 |
|
PAN No.: |
AAAPU0992M |
MAJOR SHAREHOLDERS
As on: 25.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Johnson and |
|
1080000 |
|
Depuy Medical Private Limited, |
|
360000 |
|
Total |
|
1440000 |
Equity Share Break up (Percentage of Total Equity)
As on: 25.09.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
75.00 |
|
Bodies corporate |
25.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling of various Healthcare products. |
||||||||
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|
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Products : |
|
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|
|
|
PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
|
Pressure sensitive adhesive tapes |
Meters |
1316160 |
|
Sutures and Other surgeon's requisites |
Dozens |
360000 |
|
Ortho
Pharmaceutical Corporation |
|
|
|
Lubricating Jelly |
Tones |
590 |
|
Johnson's ** baby products |
Tones |
2075 |
|
Shampoo |
Tones |
12 |
|
Johnson's ** prickly heat products |
Tones |
330 |
|
Toothbrushes |
-- |
Unlimited |
|
Orthopaedic plaster of paris bandages |
Meters |
329040 |
|
Sanitary protection products |
Units |
216 Million |
|
Surgical Powders |
Tones |
180 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
|
|
|
|
Bankers : |
The Hong Kong and the Shanghai Banking
Corporation Limited, 52/60, Mahatma Gandhi Road, Fort, Mumbai – 400 001,
Maharashtra, India |
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, |
|
PAN No.: |
AABFL5878L |
|
|
|
|
Holding Company : |
Johnson and Johnson, U.S.A |
|
|
|
|
Subsidiaries : |
Deshraj
Investments and Trading Company Limited CIN No.:-
U65990MH1981PLC023828 Key to Riches
Investment and Leasing Limited CIN No.:-
U67120MH1987PTC043329 Loyalty
Investments and Enterprises Limited CIN No.:-
U67120MH1984PTC032582 Suryalay Investment and Trading Company Limited CIN No.:- U65990MH1981PLC023690 |
|
|
|
|
Fellow
Subsidiaries / Associate Enterprises with whom the Company has transactions : |
CIN No.:-
U24239MH1981PLC025232 |
CAPITAL STRUCTURE
As on: 25.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.100/- each |
Rs.150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1440000 |
Equity Shares |
Rs.100/-
each |
Rs.144.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
144.000 |
144.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
8054.593 |
6287.787 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
8198.593 |
6431.787 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
716.667 |
|
|
TOTAL BORROWING |
|
0.000 |
716.667 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
8198.593 |
7148.454 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
4512.222 |
4337.817 |
|
|
Capital work-in-progress |
|
567.471 |
195.960 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.051 |
0.051 |
|
|
DEFERREX TAX ASSETS |
|
242.480 |
169.901 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
3994.004
|
2405.440
|
|
|
Sundry Debtors |
|
2515.076
|
1840.901
|
|
|
Cash & Bank Balances |
|
483.699
|
480.945
|
|
|
Other Current Assets |
|
0.000
|
0.000
|
|
|
Loans & Advances |
|
4331.300
|
3705.844
|
|
Total
Current Assets |
|
11324.079
|
8433.130 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
6777.740
|
4291.410
|
|
|
Other Current Liabilities |
|
349.813
|
373.347
|
|
|
Provisions |
|
1320.157
|
1323.648
|
|
Total
Current Liabilities |
|
8447.710
|
5988.405 |
|
|
Net Current Assets |
|
2876.369
|
2444.725
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
8198.593 |
7148.454 |
|
NOTE: Balance Sheet For The Year 2012 Is Not Available,
Only Profit And Loss Account Is Available.
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
35521.400 |
29294.000 |
23982.820 |
|
|
|
Other Income |
359.700 |
304.200 |
2113.185 |
|
|
|
TOTAL (A) |
35881.100 |
29598.200 |
26096.005 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
5663.300 |
5307.400 |
|
|
|
|
Purchases of stock-in-trade |
8668.900 |
7421.200 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(290.000) |
(1318.700) |
|
|
|
|
Employee benefit expense |
4482.700 |
3812.200 |
|
|
|
|
Other expenses |
12404.500 |
11578.600 |
|
|
|
|
TOTAL (B) |
30929.400 |
26800.700 |
22999.555 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4951.700 |
2797.500 |
3096.450 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
37.200 |
111.589 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4951.700 |
2760.300 |
2984.861 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
840.800 |
762.600 |
710.867 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4110.900 |
1997.700 |
2273.994 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
731.700 |
230.900 |
534.976 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3379.200 |
1766.800 |
1739.018 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
6580.197 |
4813.397 |
3542.135 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
NA |
0.000 |
0.000 |
|
|
|
Proposed Dividend |
NA |
0.000 |
252.000 |
|
|
|
Tax on Interim Dividend |
NA |
0.000 |
0.000 |
|
|
|
Tax on Proposed Dividend |
NA |
0.000 |
41.854 |
|
|
|
General Reserve |
NA |
0.000 |
173.902 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
6580.197 |
4813.397 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
1570.359 |
1265.314 |
|
|
|
Rebate on Imports |
|
23.204 |
18.155 |
|
|
|
Other Earnings |
|
1886.290 |
1904.484 |
|
|
|
Sales of Business |
|
255.083 |
0.000 |
|
|
TOTAL EARNINGS |
NA |
3734.936 |
3187.953 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
6817.835 |
5729.353 |
|
|
|
Stores & Spares |
|
20.196 |
9.998 |
|
|
|
Capital Goods |
|
269.847 |
270.405 |
|
|
TOTAL IMPORTS |
NA |
7107.878 |
6009.756 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2347.00 |
1227.00 |
1207.65 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
9.42 |
5.97 |
6.66 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.57
|
6.82 |
9.48 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
12.61 |
17.57 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
24.37 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
NA
|
0.00 |
0.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA
|
1.34 |
1.41 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT
MATURITIES OF LONG-TERM DEBT: NOT AVAILABLE
|
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 |
Yes |
|
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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
LITIGATION
DETAILS:
|
CASE DETAILS |
|||||||
|
Bench:- Bombay |
|
||||||
|
Stamp No:- |
WPST/6589/2005 |
Failing Date:- |
14/03/2005 |
Reg. No.:- |
WP/2094/2005 |
Reg. Date:- |
31/03/2005 |
|
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|||||||
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Main Matter |
|
|||||
|
Petitioner:- |
JOHNSON AND JOHNSON EMPLOYEES AND ORS |
Respondent:- |
M/S JOHNSON AND JOHNSON LTD. EMPLOYEES AND ORS |
||||
|
Petn.Adv:- |
SMT. GEETA P. MULEKAR |
Resp.Adv.:- |
SHRI S.M. NAIK AND SHRI M.S. NAIK AND (FOR RES. NO.1) |
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|
District:- |
MUMBAI |
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|
Bench:- |
SINGLE |
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|
||||
|
Status:- |
Admitted(Unready) |
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|
||||
|
Last Date:- |
24/07/2012 |
Stage:- |
FOR SPEAKING TO THE MINUTES [CIVIL SIDE MATTERS] |
||||
|
Last Coram:- |
HON'BLE SHRI JUSTICE A.A. SAYED |
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|
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|
||||||
|
Act:- |
M.R.T.U. & P.U.L.P. Act |
||||||
TURNOVER
Total sales
turnover during the year amounted to Rs.27117.976 Millions as compared to the turnover
of Rs.23.982.820 Millions for the previous period.
PROFITS
The profit for the year after tax amounted to Rs.1766.806 Millions as
compared to the profit of Rs.1739.018 Millions for the previous period.
UNSECURED LOAN:
|
Particulars |
Rs.
In Millions 31.03.2011 |
Rs.
In Millions 31.03.2010 |
|
Rupee term loans
unsecured |
|
|
|
Rupee term loans banks unsecured |
0.000 |
550.000 |
|
Rupee term loans others unsecured |
0.000 |
166.667 |
|
|
|
|
|
TOTAL |
0.000 |
716.667 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90188769 |
08/06/1999 |
100,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, JUSTICE GN VAIDAYA MARG, MUMBAI, Maharashtra - 400023, INDIA |
- |
|
2 |
90186640 |
05/02/1999 |
100,000,000.00 |
THE HONG KONG AND SHANGHAI BANKING CORPORATION LIMITED |
52/60; MAHATMA GANDHI ROAD, FORT, MUMBAI, Maharashtra - 400001, INDIA |
- |
|
3 |
90185838 |
30/06/1992 |
17,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWER, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA |
- |
|
4 |
90185835 |
22/06/1992 |
17,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWER, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA |
- |
|
5 |
90188006 |
20/08/1990 * |
400,000.00 |
THE HONG KONG AND SHANGHAI BANKING CORPORATION LIMITED |
52/60; MAHATMA GANDHI ROAD, FORT, MUMBAI, Maharashtra - 400001, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
- Freehold Land
- Leasehold Land
- Land Improvement
- Buildings
- Building Improvement
- Machinery and Equipments
- Computer/ IM Equipments
- Software
- Vehicles
- Office Furniture and Equipments
- Patents and Trade Marks
AS PER WEBSITE DETAIL:
PRESS RELEASES:
JOHNSON AND JOHNSON'S
LICENSE REVOKED ON BABY POWDER CONCERNS
Reuters : Sat May 04 2013, 10:04 hrs
Health officials have revoked Johnson and Johnson's license to make cosmetics at a plant outside Mumbai after they discovered the company had used an unauthorized process for sterilizing its baby powder.
J and J said in a statement on Friday that it is in "ongoing discussions" with Indian regulators.
We understand their concerns and are diligently working with them to resolve the issue," Peggy Ballman, a J and J spokeswoman, said in a statement, adding that there were no consumer complaints or adverse events reported due to its use of the process.
An investigation by the Maharashtra Food and Drug Administration revealed that J and J, at its plant in Mulund, had used ethylene oxide - a substance used to produce industrial chemicals and to sterilize medical equipment - to kill bacteria in its baby powder and had not conducted mandatory tests to make sure there were no remaining traces in the powder.
According to the U.S. Department of Labor, acute exposure to ethylene oxide can cause lung damage, nausea, vomiting and cancer.
Ballman said the plant has not been shut down and the company is appealing the decision. She said the sterilization process in question was used on a one-time basis on a limited amount of baby powder. Baby powder is made from corn or talc and is usually sterilized using steam, she said.
"For a brief time in 2007, we used an alternative sterilization process," she said.
Ballman was unable to explain why the alternative process was used but said it is a "widely accepted and safe practice of sterilization used when making many medical devices and consumer products and leaves no harmful residue."
"However," she said, "the process was not registered with the local FDA and they viewed this step as out of compliance."
The news is the latest in a long list of quality control problems at J and J facilities. Its consumer healthcare division has, over the past few years, recalled millions of bottles of over-the-counter products such as Motrin and children's Tylenol.
JANSSEN AND JOHNSON
AND JOHNSON INNOVATION ANNOUNCE FIRST-OF-ITS-KIND INFLAMMATORY BOWEL DISEASE
RESEARCH ALLIANCE WITH THE ICAHN SCHOOL OF MEDICINE AT MOUNT SINAI
Industry and Academic Teams Converge to Focus on the Discovery of Next Generation Therapeutic Solutions for the More Than Five Million People Affected by Inflammatory Bowel Disease Worldwide
SPRING HOUSE, Pa. and CAMBRIDGE, Mass. June 27, 2013 – Janssen Biotech, Inc. (“Janssen”) and Johnson and Johnson Innovation announced today the establishment of a research alliance with The Icahn School of Medicine at Mount Sinai (“Mount Sinai”) to advance the scientific understanding of inflammatory bowel disease (IBD) and the discovery of next generation therapeutic solutions. Scientists from the Janssen Immunology Therapeutic Area and researchers from Mount Sinai will work in partnership to investigate disease triggers, identify new opportunities for therapeutic interventions and establish diagnostics to facilitate precision medicine and predictive biomarkers. The first-of-its-kind industry and academic partnership brings together Janssen research and development capabilities with an early-stage life science investment through the Johnson and Johnson Innovation center in Boston and Mount Sinai’s expertise in computational biology, and clinical and translational research in IBD.
“The collaboration with Mount Sinai underscores a shared commitment to further understand inflammatory bowel disease biology and advance patient care through the discovery of novel therapeutic solutions,” said Miguel S. Barbosa, Ph.D., Vice President, Head of Immunology Research and Scientific Partnership Strategy, Janssen Research and Development, LLC. “By bringing together two excellent scientific teams with a shared long-term vision to improve the health of individuals living with IBD, we will harness the joint expertise and capabilities to deepen the scientific understanding of the disease and deliver future innovative medicines and co-diagnostics.”
“Research alliances such as these, managed by the team at Mount Sinai Innovation Partners, allow us to develop, patent, license, and translate laboratory breakthroughs into clinical applications,” said Dennis Charney, M.D., Anne and Joel Ehrenkranz Dean of the Icahn School of Medicine at Mount Sinai and Executive Vice President for Academic Affairs of The Mount Sinai Medical Center. “The strength of Janssen for therapies in immune-related diseases is an ideal match for our own clinical and research expertise in inflammatory bowel disease.”
The collaboration will focus on building a Molecular Interaction Network of Disease (MIND) in IBD with the breadth and depth to yield high confidence therapeutic hypotheses to be tested in vitro and in vivo. Using preclinical models, clinical study data and patient samples, a dedicated group of Janssen and Mount Sinai researchers, computational biologists and translational medicine scientists will develop clinical methodologies to test hypotheses and identify potential therapeutic candidates.
This unique industry and academic research alliance brings together scientific and institutional resources from Mount Sinai, Janssen and Johnson and Johnson Innovation representing each organization’s deep commitment and investment in transforming the treatment of IBD. Detailed terms of the agreement are not being disclosed, but a successful collaboration may represent a multi-million dollar commitment each year over a four-year period in the pursuit of next generation therapeutic solutions for IBD.
“The research alliance with Mount Sinai is representative of the Johnson and Johnson Innovation strategy—catalyze early-stage innovation through a regional network of collaborators to advance breakthrough science into new healthcare solutions,” said Robert Urban, Ph.D., Head of the Johnson and Johnson Innovation center in Boston. “By connecting with leading experts who are based in universities, academic centers or biotechnology companies, we are eager to help these researchers bring their discoveries into the lives of patients suffering from high unmet medical needs, like Crohn’s disease and ulcerative colitis.”
As many as 1.4 million people in the United States and more than five million people worldwide are affected by IBD, chronic, immune-mediated digestive diseases that include Crohn’s disease and ulcerative colitis (UC).[1] The symptoms of Crohn’s disease and UC can be severe and progress to the need for surgical intervention. Although progress has been made in research and treatment over the years, researchers do not know what causes IBD.[2]
About the Janssen
Pharmaceutical Companies of Johnson and Johnson
The Janssen Pharmaceutical Companies of Johnson and Johnson are dedicated to addressing and solving the most important unmet medical needs of our time, including oncology (e.g., multiple myeloma and prostate cancer), immunology (e.g., rheumatoid arthritis, IBD and psoriasis), neuroscience (e.g., schizophrenia, dementia and pain), infectious disease (e.g., HIV/AIDS, Hepatitis C and tuberculosis), and cardiovascular and metabolic diseases (e.g., diabetes).
Driven by our commitment to patients, we develop sustainable, integrated healthcare solutions by working side-by-side with healthcare stakeholders, based on partnerships of trust and transparency. To learn more,
About Johnson and
Johnson Innovation
The Boston Innovation Center is part of Johnson and Johnson Innovation, a division of Johnson and Johnson Finance Corporation. Johnson and Johnson Innovation focuses on accelerating early innovation and enhancing opportunities for collaboration and investment across Johnson and Johnson’s global healthcare businesses. Johnson and Johnson Innovation provides scientists, entrepreneurs and emerging companies focused on early-stage opportunities a one-stop access to science and technology experts who can facilitate collaborations across the pharmaceutical, medical device and diagnostics and consumer companies of Johnson and Johnson. Johnson and Johnson Innovation includes local deal-making capabilities with the flexibility to adapt deal structures to match early-stage opportunities and establish novel collaborations that speed development of those innovations to solve unmet needs in patients. More information can be found here: www.jnjinnovation.com.
Forward-looking
Statements
(This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Janssen Biotech, Inc., any of the other Janssen Pharmaceutical Companies, Johnson and Johnson Finance Corporation and/or Johnson and Johnson. Risks and uncertainties include, but are not limited to, general industry conditions and competition; economic factors, such as interest rate and currency exchange rate fluctuations; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approvals; challenges to patents; changes in behavior and spending patterns or financial distress of purchasers of health care products and services; changes to governmental laws and regulations and domestic and foreign health care reforms; trends toward health care cost containment; and increased scrutiny of the health care industry by government agencies. A further list and description of these risks, uncertainties and other factors can be found in Exhibit 99 of Johnson and Johnson’s Annual Report on Form 10-K for the fiscal year ended December 30, 2012. Copies of this Form 10-K, as well as subsequent filings, are available online at www.sec.gov, www.jnj.com or on request from Johnson and Johnson. The Janssen Pharmaceutical Companies, Johnson and Johnson Finance Corporation and Johnson and Johnson do not undertake to update any forward-looking statements as a result of new information or future events or developments.)
J AND J ANTI-FUNGAL
PILL DRAWS LIVER-DAMAGE WARNING FROM FDA (1)
July 26, 2013
Johnson and Johnson (JNJ:US)’s anti-fungal Nizoral tablets raise the risk of deadly liver injuries and harmful drug interactions and their use should be limited, regulators in the U.S. and European Union said.
The U.S. Food and Drug Administration said in a statement today that it changed the drug’s label to warn that Nizoral tablets shouldn’t be the first line of treatment for a fungal infection. The European Medicines Agency, meanwhile, said it was recommending a suspension of marketing for oral treatments containing ketoconazole, Nizoral’s main ingredient.
The risk of liver damage, including hepatitis, outweighs the drug’s benefits, the EU agency said, while the FDA said the medication can cause adrenal-gland problems as well as liver injuries that may be fatal or require a transplant. New Brunswick, New Jersey-based J and J, the world’s biggest maker (JNJ:US) of health-care products, hasn’t released sales figures for the tablet in recent financial statements.
Nizoral also comes in topical formulations, including creams, shampoos, foams, and gels applied to the skin, the FDA said. None of those have been associated with liver damage, adrenal problems, or drug interactions, the FDA said.
JandJ rose less than 1 percent to $92.83 at the close in New York. The shares have gained 32 percent (JNJ:US) this year.
J AND J AGREES TO PAY
$22.9 MILLION TO SETTLE ON DRUG RECALLS
Jul 18, 2013 7:17 AM GMT+0530
Johnson and Johnson (JNJ), the world’s largest maker of health-care products, agreed to pay $22.9 million to settle a lawsuit claiming it misled investors about quality-control failures that led to recalls, according to court papers.
The proposed settlement, filed July 15 in federal court in Trenton, New Jersey, would resolve claims that the failures led to the largest recall of over-the-counter children’s medicine in U.S. history, a plant closing and a congressional probe. The group, or class-action, accord still needs a judge’s approval.
The case focused on recalls of over-the-counter drugs made by J and J’s McNeil Consumer Healthcare division in Las Piedras, Puerto Rico, and Fort Washington, Pennsylvania. Investors claimed that J and J and its executives made misleading statements about details of the recalls and that they suffered stock losses after the true reasons for the recalls became public.
“The proposed settlement is a favorable recovery for the class especially when viewed in light of the significant risks posed by continued litigation,” according to the filing.
J and J will make no admission of wrongdoing, according to a joint filing by investors and the company.
“We maintain that the claims in this action are without merit, and settled this case in order to avoid the expense, distraction and time associated with continuing litigation,” Ernie Knewitz, a spokesman for New Brunswick, New Jersey-based J and J, said in an e-mail.
The settlement would cover buyers of J and J shares between Oct. 14, 2008, and July 21, 2010. It follows mediation by a retired judge, Daniel H. Weinstein, according to the filing.
Suit Dismissed
J and J claimed that investors were unable to prove the materiality of alleged misstatements and omissions or how they caused shares to drop, and that company executives acted in good faith. A judge’s ruling had meant “there was a great likelihood” that the class asserted “would have been substantially curtailed,” according to the filing.
U.S. District Judge Freda Wolfson previously dismissed a similar suit claiming that J and J directors ignored “red flags” foreshadowing product recalls and government probes of manufacturing defects and marketing practices.
Recalls dogged J and J for two years, led by the withdrawal of more than 40 brands of children’s Tylenol, Motrin and other medicines with foul odors or faulty ingredients. J and J shut one factory for an overhaul and signed a consent decree expanding U.S. oversight at three plants.
The case is Monk v. J and J, 10-cv-04841, U.S. District Court, District of New Jersey (Trenton).
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 records 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.59.30 |
|
|
1 |
Rs.91.18 |
|
Euro |
1 |
Rs.78.71 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
YES |
|
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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
57 |
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.