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Report Date : |
21.03.2013 |
IDENTIFICATION DETAILS
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Name : |
APOTEX INC. |
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Registered Office : |
150 Signet Drive, Toronto, Ontario M9L 1T9 |
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Country : |
Canada |
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Date of Incorporation : |
24.05.1974 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Engages in the research and development, manufacture, and distribution of generic pharmaceuticals |
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No. of Employees : |
2,800 (in Canada) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Canada |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
CANADA - ECONOMIC OVERVIEW
As an affluent, high-tech industrial society in the trillion-dollar
class, Canada resembles the US in its market-oriented economic system, pattern
of production, and affluent living standards. Since World War II, the
impressive growth of the manufacturing, mining, and service sectors has
transformed the nation from a largely rural economy into one primarily
industrial and urban. The 1989 US-Canada Free Trade Agreement (FTA) and the
1994 North American Free Trade Agreement (NAFTA) (which includes Mexico)
touched off a dramatic increase in trade and economic integration with the US
its principal trading partner. Canada enjoys a substantial trade surplus with
the US, which absorbs about three-fourths of Canadian exports each year. Canada
is the US's largest foreign supplier of energy, including oil, gas, uranium,
and electric power. Given its great natural resources, highly skilled labor
force, and modern capital plant, Canada enjoyed solid economic growth from 1993
through 2007. Buffeted by the global economic crisis, the economy dropped into
a sharp recession in the final months of 2008, and Ottawa posted its first
fiscal deficit in 2009 after 12 years of surplus. Canada''s major banks,
however, emerged from the financial crisis of 2008-09 among the strongest in
the world, owing to the financial sector''s tradition of conservative lending
practices and strong capitalization. Canada achieved marginal growth in 2010
and 2011 and plans to balance the budget by 2015. In addition, the country''s
petroleum sector is rapidly becoming an even larger economic driver with
Alberta''s oil sands significantly boosting Canada''s proven oil reserves,
ranking the country third in the world behind Saudi Arabia and Venezuela.
Source
: CIA
Company name: APOTEX INC.
Address: 150 Signet Drive, Toronto, Ontario
M9L 1T9 - Canada
Telephone: +1
416-749-9300
Fax: +1 416-401-3849
Website: www.apotex.com
Corporate ID#: 001612278
State: Ontario
Judicial form: Corporation – Profit
Date incorporated: April 1
2004
Date founded: May 24, 1974
Stock: -
Value: -
Name of manager: Jack M. KAY
Business:
Apotex Inc., a pharmaceutical company, engages in the research and
development, manufacture, and distribution of generic pharmaceuticals in Canada
and internationally. It offers products in various dosage forms, such as liquids,
ophthalmics, nasal sprays, and injectables.
The company serves customers through pharmacies and healthcare
facilities.
It also exports its generic pharmaceuticals internationally.
The company was founded in 1974 and is based in Toronto, Canada with
additional offices in Saudi Arabia.
It also has facilities in Montreal, Richmond Hill, Etobicoke,
Mississauga, Brantford, Windsor, Winnipeg, London, Calgary, and Vancouver,
Canada; and subsidiary locations, joint ventures, or licensing agreements primarily
in Australia, Belgium, Czech Republic, Italy, Mexico, the Netherlands, New
Zealand, Poland, and Turkey.
Apotex markets its drugs throughout Canada and the US, as well as in
about 115 other countries in the Asia/Pacific region, Africa, Europe, Latin
America, and the Middle East.
Apotex Inc. operates as a subsidiary of Apotex Pharmaceutical Holdings
Inc.
Suppliers include:
TAIZHOU HEALTECH CHEMICAL CO
400 donghai road taizhou e.d.z.,jiaojiang taizhou china
DIVIS LABORATORIES LIMITED
Divi Towers, dharam karan road, ameerpet hyderabad 500 016 india
Staff: 2,800 (in Canada)
Operations & branches:
At the headquarters, we
find a large factory, warehouse and office.
The company maintains a
branch located:
50 Stelnway Boulevard
Etobicoke ON Canada M9W 6Y3 Canada
Ph: 416-675-0338
Shareholders:
APOTEX PHARMACEUTICAL
HOLDINGS INC.
150 Signet Drive
Toronto, Ontario M9L 1T9 - Canada
Federal Corporation
Incorporated on 03-18-1996
ID# 3239748
Management:
Jack M. KAY is Director and CEO
Mr. Jack M. Kay serves also as the Chief Executive Officer at Apotex
Corporation and served as its President and Chief Operating Officer.
Mr. Kay has been the President at Apotex Inc. since 1995 and serves as
its Chief Operating Officer. He serves as the President of Apotex
Pharmaceutical Holdings Inc. He serves as a Vice President of Shermco Inc. He
has 45 years’ experience in pharmaceutical management and sales, including 28
years with Apotex. He served as the Chairman of Helix Biopharma Corp. from
January 2012 to January 30, 2012. He served as the Chairman of Cangene Corp.
from December 6, 2006 to December 14, 2010 and has been its Director since
November 1, 1995. He serves as a Director of Humber River Regional Hospital (Toronto)
and Shermco Inc. He served as a Director of Barr Pharmaceuticals Inc. (formerly
Barr Laboratories Inc.), since December 1994.
He served as an Independent Director of Helix Biopharma Corp. from
January 2005 to December 2012. He served as a Member of the Supervisory Board
of PLIVA-Lachema A.S since June 2003. Mr. Kay serves as the Chairman of the
Board of the International Schizophrenic Society.
He serves as the Chairman of the Canadian Drug Manufacturers
Association, the Chairman of Canadian Schizophrenia Foundation and Chairman of
Humber River Regional Hospital in Toronto.
He serves as Vice Chairman of the Canadian Generic Pharmaceutical
Association. He has academic training in business administration from the
University of Manitoba and McGill University.
Bernard Charles SHERMAN is the Founder, Chairman and Director
Dr. Bernard Charles Sherman founded Apotex Holdings Inc. in 1974 and
serves as its President. Dr. Sherman founded Apotex Inc. in 1974 and serves as
its Chairman and served as its Chief Executive Officer. He serves as the
Chairman of Shermco Inc. He served as Chairman of Cangene Corp., until December
2006. He served as a Director of Citadel Gold Mines Inc. from February 4, 1988
to January 31, 2007. He serves on the Board of Governors for Mount Sinai
Hospital and the Baycrest Centre for Geriatric Care in Toronto. He is also a
member of the board of directors of Barr (FN1). He served as Director of
Cangene Corp., from November 1, 1995 to December 2006.
Dr. Sherman graduated with a Ph.D. from Massachusetts Institute of
Technology in 1967.
As far as we know, they are involved in other corporations, including:
PHARMATEX CORPORATION
2400 North Commerce Parkway, Suite 400
Weston, FL 33326
USA
and others.
In Canada, privately held
corporations are not required to publish any financials.
On a direct call, a
financial assistant controlled the present report but deferred any financials.
Outside sources (bank) gave
estimate sales for year 2011 in the range of
CAD 380,000,000=
The business is profitable.
Banks: Royal Bank of Canada
Bank of Canada
...
Legal filings & complaints:
As of today date, there are several legal filing pending with various Courts,
involving the Company as plaintiff or defendant.
Secured debts summary: Several