1. Summary Information
|
Country |
INDIA |
||
|
Company Name |
GLENMARK
GENERICS LIMITED |
Principal Name 1 |
MR. NATVARLAL BHIMBHAI DESAI |
|
Status |
GOOD |
Principal Name 2 |
MR. SRIDHAR ANANT GORTHI |
|
Registration # |
11-081597 |
||
|
Street Address |
B/2, MAHALAXMI CHAMBERS 22, BHULABHAI DESAI ROAD, MUMBAI – 400 026,
MAHARASHTRA |
||
|
Established Date |
29.09.1994 |
SIC Code |
-- |
|
Telephone# |
91-22-24964893 |
Business Style 1 |
MANUFACTURING |
|
Fax # |
91-22-24932648 |
Business Style 2 |
MARKETING |
|
Homepage |
Product Name 1 |
PHARMACEUTICAL FORMULATIONS |
|
|
# of employees |
3000 (APPROXIMATELY) |
Product Name 2 |
ACTIVE PHARMACEUTICAL INGREDIENTS |
|
Paid up capital |
RS.1,499,550,480/- |
Product Name 3 |
-- |
|
Shareholders |
FOREIGN
HOLDINGS-1.75% BODIES CORPORATE-97.96% OTHERS-0.29% |
Banking |
AXIS BANK LIMITED |
|
Public Limited Corp. |
NO |
Business Period |
19 YEARS |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
Ba (54) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
HOLDING COMPANY (AS ON
31.03.2011) : |
INDIA |
GLENMARK
PHARMACEUTICALS LIMITED |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
NA |
Current Liabilities |
NA |
|
Inventories |
NA |
Long-term Liabilities |
NA |
|
Fixed Assets |
NA |
Other Liabilities |
NA |
|
Deferred Assets |
NA |
Total Liabilities |
NA |
|
Invest& other Assets |
NA |
Retained Earnings |
NA |
|
|
|
Net Worth |
NA |
|
Total Assets |
NA |
Total Liab. & Equity |
NA |
|
Total Assets (Previous Year) |
23,950,735,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
12,825,010,000 |
Net Profit |
2,183,330,000 |
|
Sales(Previous yr) |
11,045,200,000 |
Net Profit(Prev.yr) |
427,120,000 |
|
Report Date : |
21.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
GLENMARK GENERICS LIMITED (w.e.f. 29.11.2007) |
|
|
|
|
Formerly Known
As : |
GLENMARK ORGANICS LIMITED |
|
|
|
|
Registered
Office : |
B/2, Mahalaxmi Chambers 22, Bhulabhai Desai Road, Mumbai – 400 026,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 (Profit & Loss A/c) |
|
|
|
|
Date of
Incorporation : |
29.09.1994 |
|
|
|
|
Com. Reg. No.: |
11-081597 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1499.550
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1994PLC081597 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG05256G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCG9820D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing
and Marketing of Pharmaceutical Formulations and Active Pharmaceutical
Ingredients. |
|
|
|
|
No. of Employees
: |
3000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 43559000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Glenmark Pharmaceuticals Limited, a well established
and a reputed company. Subject is a well established and reputed company having fine track
record. Balance Sheet Statement for the year 2012 is not available. However,
as per Profit and Loss Account there appears better growth in the profitability
of the company. Performance capability of the company seems to be good. Fundamentals
are healthy. Company gets good support from its group companies. Liquidity
position of the company is good. Trade relations are reported as fair.
Business is active. Payments are reported to be regular and as per
commitment. The company can be considered good 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) |
|
|
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
|
Source
: CIA |
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 Office : |
B/2, Mahalaxmi Chambers 22, Bhulabhai Desai Road, Mumbai – 400026,
Maharashtra, India |
|
Tel. No.: |
91-22-24964893/ 24901481/ 67589999/ 40189999 |
|
Fax No.: |
91-22-24932648/ 24919652/ 67589986/ 40189986 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
5000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
Glenmark House, HDO-Corporate Building, Wing A, B D Sawant Marg,
Chakala, Off Western Express Highway, Andheri (East), Mumbai – 400 099,
Maharashtra, India |
|
Tel. No.: |
91-22-40189999/ 40189827 |
|
Fax No.: |
91-22-40189988/ 40189804 |
|
|
|
|
Manufacturing Units: |
Located at: ·
·
Ankleshwar ·
Kurkumbh ·
Mohol |
DIRECTORS
As on 01.08.2012
|
Name : |
Mr. Natvarlal Bhimbhai Desai |
|
Designation : |
Director |
|
Address : |
701, Kubelisque Conominm, Union Park, Pali Hill, Nargis Dutt Road,
Mumbai – 400 052, Maharashtra, India |
|
Date of Birth/Age : |
23.03.1927 |
|
Qualification : |
Metric from Mumbai University |
|
Date of Appointment : |
30.06.2010 |
|
DIN No.: |
00029023 |
|
|
|
|
Name : |
Mr. Sridhar Anant Gorthi |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
1002, 10th Floor, June Blossoms, Manuel Gonsalves Road,
Bandra, Mumbai – 400 050, Maharashtra, India |
|
Date of Birth/Age : |
31.07.1972 |
|
Qualification : |
BA, LLB (Hons.) |
|
Date of Appointment : |
14.08.2008 |
|
DIN No.: |
00035824 |
|
|
|
|
Name : |
Julio Francis Ribeiro |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
5th Floor, Room No.51, Sagar Tarang Building, 15-A, K A G
Khan Road, Mumbai – 400 030, Maharashtra, India |
|
Date of Birth/Age : |
05.05.1929 |
|
Qualification : |
B Com, LLB |
|
Date of Appointment : |
14.08.2008 |
|
DIN No.: |
00047630 |
|
|
|
|
Name : |
Mr. Glenn Mario Saldanha |
|
Designation : |
Director |
|
Address : |
1101 to 1102, 111th Floor, Lasolita Rustomjee Building, Off
Turner Road 28th, 25th Road, Bandra (West), Mumbai –
400 050, Maharashtra, India |
|
Date of Birth/Age : |
26.11.1969 |
|
Qualification : |
B. Pharm, MBA |
|
Date of Appointment : |
18.12.2007 |
|
DIN No.: |
00050607 |
|
|
|
|
Name : |
Mr. Rajesh Vasudeo Desai |
|
Designation : |
Director |
|
Address : |
102-D Wing, Shrinath Bhuvan, Nicolas Wadi, Yashwant Tawde Path, Dahisar
(West), Mumbai – 400 050, Maharashtra, India |
|
Date of Birth/Age : |
14.07.1958 |
|
Qualification : |
B. Sc, C.A. |
|
Date of Appointment : |
30.06.2010 |
|
DIN No.: |
00050838 |
|
|
|
|
Name : |
Mr. Devendra Raj Mehta |
|
Designation : |
Director |
|
Address : |
B – 5, Mahavir Udyan Marg, Bajaj Nagar, Jaipur – 302 015, Rajasthan,
India |
|
Date of Birth/Age : |
25.06.1937 |
|
Qualification : |
B.A., LLB |
|
Date of Appointment : |
30.06.2010 |
|
DIN No.: |
01067895 |
|
|
|
|
Name : |
Mr. Terrace Joseph Coughlin |
|
Designation : |
Director |
|
Address : |
43 Chester Hill Road, Warwick, New York – 10990, USA |
|
Date of Birth/Age : |
02.11.1965 |
|
Qualification : |
Bachelors of Science and Chemistry |
|
Date of Appointment : |
05.09.2008 |
|
DIN No.: |
02135498 |
|
|
|
|
Name : |
Mr. Jalaj Sharma |
|
Designation : |
Whole Time Director |
|
Address : |
Flat 125 and 126, West End, D Wing, Raheja Vihar, Chandivali Farm
Road, Andheri (East), Mumbai – 400 072, Maharashtra, India |
|
Date of Birth/Age : |
24.09.1963 |
|
Qualification : |
PGDBM (Finance) |
|
Date of Appointment : |
01.04.2009 |
|
DIN No.: |
02626340 |
KEY EXECUTIVES
|
Name : |
Mr. Pranav Kumar Pradip Kumar Mewada |
|
Designation : |
Company Secretary |
|
Date of Appointment : |
16.08.2011 |
|
PAN No.: |
AKMPM3980B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
Note:
Shareholding and Allottees details file attached.
As on 01.08.2012
|
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] |
|
1.75 |
|
Bodies
corporate |
|
97.96 |
|
Others
|
|
0.29 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing
and Marketing of Pharmaceutical Formulations and Active Pharmaceutical
Ingredients. |
|
|
|
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Injectibles |
Ltrs |
-- |
2688 |
|
Liquid Orals |
Ltrs |
-- |
105 |
|
Lotions &
Externals |
Ltrs |
-- |
843 |
|
Ointments and
Creams |
Kgs |
972000 |
121066 |
|
Solids and
Powders |
Kgs |
-- |
190628 |
|
Tablets and
Capsules |
Nos. |
4623000000 |
2128074053 |
|
Bulk Drugs |
Kgs. |
466000 |
154360 |
Notes:
1.
The products of the Company are exempt from
licensing procedures.
2.
Installed capacity, being a technical matter, has
not been verified by the auditors. However, the management has certified the
same.
3.
Actual production includes goods manufactured at
third party manufacturing facilities on loan licence basis and at leased facilities,
however same is not considered for the installed capacity disclosure.
GENERAL INFORMATION
|
No. of Employees : |
3000 (Approximately) |
|||||||||
|
|
|
|||||||||
|
Bankers : |
|
|||||||||
|
|
|
|||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R.G.N. Price and Company Chartered Accountants |
|
Address : |
204, Parikh Building, N.G. Acharya Road, Chembur, Mumbai – 400 071,
Maharashtra, India |
|
Tel. No.: |
91-22-25281531/ 67993443/ 25280291 |
|
Fax No.: |
91-22-25280291 |
|
E-Mail : |
|
|
PAN No: |
AAAFR0651G |
|
|
|
|
Holding Company (As on 31.03.2011) : |
Glenmark
Pharmaceuticals Limited, India |
|
|
|
|
Wholly Owned Subsidiary Companies (As on 31.03.2011) : |
|
|
|
|
|
Indirect Subsidiaries (As on 31.03.2011) : |
|
|
|
|
|
Associate / Fellow Subsidiary Companies (As on 31.03.2011) : |
|
CAPITAL STRUCTURE
After 01.08.2012
Authorised Capital : Rs.2000.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.1508.555
Millions
As on 01.08.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000000 |
Equity Shares |
Rs.10/- each |
Rs.2000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150558023 |
Equity Shares |
Rs.10/- each
|
Rs.1505.580
Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000000 |
Equity Shares |
Rs.10/- each |
Rs.2000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
149955048 |
Equity Shares |
Rs.10/- each |
Rs.1499.550
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 |
|
1499.550 |
1496.030 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
9390.224 |
8963.095 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
10889.774 |
10459.125 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
269.630 |
1927.736 |
|
|
2] Unsecured Loans |
|
8002.932 |
3127.788 |
|
|
TOTAL BORROWING |
|
8272.562 |
5055.524 |
|
|
DEFERRED TAX LIABILITIES |
|
582.960 |
589.655 |
|
|
|
|
|
|
|
|
TOTAL |
|
19745.296 |
16104.304 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
3854.862 |
3952.815 |
|
|
Capital work-in-progress |
|
1866.584 |
2895.725 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
1061.550 |
1061.550 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
2489.695
|
2162.322
|
|
|
Sundry Debtors |
|
3892.883
|
3822.551
|
|
|
Cash & Bank Balances |
|
189.847
|
129.071
|
|
|
Other Current Assets |
|
0.000
|
0.000
|
|
|
Loans & Advances |
|
10595.314
|
4975.939
|
|
Total
Current Assets |
|
17167.739
|
11089.883 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
1627.441
|
1565.575
|
|
|
Other Current Liabilities |
|
2557.125
|
1315.114
|
|
|
Provisions |
|
20.873
|
14.980
|
|
Total
Current Liabilities |
|
4205.439
|
2895.669 |
|
|
Net Current Assets |
|
12962.300
|
8194.214
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
19745.296 |
16104.304 |
|
Note: Balance Sheet for the year 2012 is not available only Profit & Loss
A/c is available.
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
12825.010 |
11045.200 |
8261.754 |
|
|
|
Other Income |
722.060 |
297.350 |
271.392 |
|
|
|
TOTAL (A) |
13547.070 |
11342.550 |
8533.146 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
6319.270 |
5108.150 |
-- |
|
|
|
Purchases of stock-in-trade |
37.370 |
36.300 |
-- |
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
83.730 |
(149.820) |
-- |
|
|
|
Employee benefit expense |
934.710 |
605.230 |
-- |
|
|
|
Other expenses |
2731.170 |
2217.200 |
-- |
|
|
|
Exceptional items |
0.000 |
2339.780 |
0.000 |
|
|
|
Manufacturing Service Cost |
-- |
-- |
4272.787 |
|
|
|
Administrative, Selling and Other
Expenses |
-- |
-- |
1301.616 |
|
|
|
Research and Development Expenses |
-- |
-- |
130.808 |
|
|
|
TOTAL (B) |
10106.250 |
10156.840 |
5705.211 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3440.820 |
1185.710 |
2827.935 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
470.170 |
438.900 |
851.376 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2970.650 |
746.810 |
1976.559 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
387.820 |
326.380 |
268.388 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2582.830 |
420.430 |
1708.171 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
399.500 |
(6.690) |
219.093 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2183.330 |
427.120 |
1489.078 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
NA |
2527.195 |
1038.117 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
2527.195 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods calculated on FOB basis |
10863.200 |
9150.834 |
6649.046 |
|
|
|
Interest Income |
181.700 |
243.846 |
69.445 |
|
|
|
Others |
0.000 |
5.577 |
9.154 |
|
|
TOTAL EARNINGS |
11044.900 |
9400.257 |
6727.645 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
NA |
63.883 |
58.254 |
|
|
|
Raw Materials and Packing Materials |
NA |
1051.161 |
869.068 |
|
|
TOTAL IMPORTS |
NA |
1115.044 |
927.322 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
14.55 |
2.85 |
12.49 |
|
|
|
- Diluted |
14.43 |
2.82 |
12.28 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
16.12
|
3.77
|
17.45 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
20.14
|
3.81
|
20.68 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
2.00
|
11.36 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.04
|
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
NA
|
0.76
|
0.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA
|
4.08
|
3.83 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
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 |
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 |
No |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
No |
|
Unsecured Loan |
31.03.2011 [Rs.
In Millions] |
31.03.2010 [Rs.
In Millions] |
|
Rupee term loans
banks unsecured |
3299.587 |
3127.463 |
|
Rupee term loans
others unsecured |
4702.750 |
0.000 |
|
Fixed deposits
unsecured |
0.595 |
0.325 |
|
Total |
8002.932 |
3127.788 |
Fixed Assets:
Tangible Assets
·
Leasehold Land
·
Factory Buildings
·
Other Buildings and
Premises
·
Plant and Machinery
·
Furniture and Fixtures
·
Equipments
·
Vehicles
Intangible Assets
·
Computer Software
·
Product Knowhow
·
Goodwill
WEBSITE DETAILS:
PRESS RELEASES:
ATOVAQUONE PROGUANIL
(MALARONE®) PATENT REVOKED AND GLENMARK LAUNCHES FIRST UK GENERIC
MUMBAI, February 7,
2013
Glenmark Generics (Europe) Limited (GGEL) announces the first generic launch of Atovaquone Proguanil in the UK following the revocation of the Malarone patent in the High court in the UK.
Judgement has today been handed down in the case of Glenmark Generics (Europe) Limited and Generics [UK] Limited t/a Mylan v The Wellcome Foundation and Glaxo Group Limited.
The case involved the revocation of Glaxo's patent for its anti-malarial product Malarone. Following proceedings in the High Court, Mr. Justice Arnold revoked Glaxo's patent on the basis that it was obvious.
Atovaquone Proguanil is indicated for the prophylaxis and treatment of acute, uncomplicated p.falciparum malaria particularly where there is likely to be resistance. Based on IMS Health sales data for the 12 month period ending Sept 2012, Atovaquone Proguanil garnered sales of Euro 20.69 million in the UK.
Glenmark Generics (Europe) Limited is part of Glenmark Generics Limited. The European arm is headquartered in the UK and operates through its own entities and distribution partners in the UK, Germany, the Netherlands, Denmark, Sweden and Ireland. Glenmark Generics (Europe) Limited has an exciting portfolio of more than 300 Marketing authorisations approved in Europe. In addition to these internal filings, GGEL continues to identify and explore external development partnerships to supplement and accelerate the growth of the existing pipeline and portfolio.
About Glenmark Generics Limited
Glenmark Generics Limited (GGL) is a subsidiary of Glenmark Pharmaceuticals Limited (Glenmark) and aims to be a global integrated Generic and API leader. GGL has an established presence in North America and developing an EU presence It primarily sells its FDF products in the United States ("US") and the European Union ("EU"), as well as its oncology FDF products in South America. The Company supplies APIs to customers in approximately 63 countries, including the US, various countries in the EU, South America and India.
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.53.37 |
|
|
1 |
Rs.82.07 |
|
Euro |
1 |
Rs.70.04 |
INFORMATION DETAILS
|
Report Prepared by
: |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
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 |
5 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.