MIRA INFORM REPORT

Report Date :

10.11.2014

IDENTIFICATION DETAILS

Name :	SANOFI PASTEUR INDIA PRIVATE LIMITED
Registered Office :	54A, Sir Mathuradas Vasanji Road, Andheri Kurla Road, Chakala, Andheri, Mumbai - 400093, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	05.01.1996
Com. Reg. No.:	11-205997
Capital Investment / Paid-up Capital :	Rs. 152.800 Millions
CIN No.: [Company Identification No.]	U24232MH1996PTC205997
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Wholesalers of Pharmaceuticals
No. of Employees :	Information Declined By The Management

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. As per Registrar of companies the date of Balance sheet i.e., Financials filed is shown as 31^st March, 2014but the documents related to the financials for the year 2014 are not available from any sources. As per available financials of 2013, Financial positon of the company seems o be decent. Trade relations are fair. Business is active. Payments terms are reported to be usually correct and as per commitments. The company can be considered normal 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.

ECGC Country Risk Classification List – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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

N E W S

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

DHL  to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

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 31-03-2014.

INFORMATION DENIED

Management non co – operative (Tel No.: 91-22-28278000)

LOCATIONS

Registered Office :	54A, Sir Mathuradas Vasanji Road, Andheri Kurla Road, Chakala, Andheri, Mumbai - 400093, Maharashtra, India
Tel. No.:	91-22-28278000 / 28316752
Fax No.:	Not Available
E-Mail :	dheeraj.chopra@sanofipasteur.com
Website :	http://www.sanofipasteur.com

DIRECTORS

As on: 27.09.2013

Name :	Mr. Stephan Erik Barth
Designation :	Whole Time Director
Address :	Mayqueen 6 Pali Hill, Bandra West, Mumabi – 400050, Maharashtra, India
Date of Birth/Age :	28.07.1974
Date of Appointment :	29.06.2012
DIN No.:	05317512
Name :	Mr. Surendra Agarwall
Designation :	Whole Time Director
Address :	B 404, Mukta Mahek Residency, 90 Ft Road, Thakur Complex, Kandivali East, Mumbai – 400101, Maharshtra, India
Date of Birth/Age :	07.01.1968
Date of Appointment :	19.02.2010
DIN No.:	02955320

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 27.09.2013

Names of Shareholders	No. of Shares
Sanofi Pasteur S A	9720000
Surendra Agarwall	1
Total	9720001

Equity Share Break up (Percentage of Total Equity)

As on: 27.09.2013

Category	Percentage
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Wholesalers of Pharmaceuticals

Products :

Description of Product	ITC Code
Other Medcneput Up Forretail Salen.E.S	30049099

GENERAL INFORMATION

No. of Employees :	Information Declined By The Management
Bankers :	HDFC Bank State Bank of India
Facilities :	--

Banking Relations :	--
Auditors :
Name :	S. R. Batliboi and Company Chartered Accountants
Address :	14^th Floor, The Ruby, Senapati Bapat Marg, Dadar – West, Mumbai – 400028, Maharashtra, India
Tel. No.:	91-22-61920000
Fax No.:	91-22-61921000
PAN No.:	AALFS0506L
Fellow subsidiary company :	Sanofi Aventis Singapore Pte. Limited, Singapore Sanofi Pasteur Incorporation, United States Sanofi Synthelabo (India) Limited Sanofi – Pasteur Limited, Canada Shantha Niotecnics Limited Sanofi India Limited CIN NO.: L24239MH1956PLC009794

CAPITAL STRUCTURE

As on: 27.09.2013

Authorized Capital:

No. of Shares	Type	Value	Amount
7500000	Equity Shares	Rs.10/- each	Rs. 75.000 Millions
10000000	Preference shares	Rs.10/- each	Rs.100.000 Millions
	Total		Rs. 175.000 Millions

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
5557000	Equity Shares	Rs.10/- each	Rs. 55.570 Millions
9720000	Preference shares	Rs.10/- each	Rs. 97.200 Millions
	Total		Rs. 152.770 Millions

As on: 31.03.2013

Authorized Capital:

No. of Shares	Type	Value	Amount
7500000	Equity Shares	Rs.10/- each	Rs. 75.000 Millions
10000000	Preference shares	Rs.10/- each	Rs.100.000 Millions
	Total		Rs. 175.000 Millions

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
5560000	Equity Shares	Rs.10/- each	Rs.55.600 Millions
9720000	Preference shares	Rs.10/- each	Rs. 97.200 Millions
	Total		Rs. 152.800 Millions

FINANCIAL DATA

[All figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	152.800	152.800	152.800
(b) Reserves & Surplus	364.400	264.000	154.800
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	517.200	416.800	307.600
(3) Non-Current Liabilities
(a) long-term borrowings	230.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	12.500	10.800	6.100
Total Non-current Liabilities (3)	242.500	10.800	6.100
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	20.000
(b) Trade payables	518.700	308.800	267.300
(c) Other current liabilities	63.600	52.400	32.800
(d) Short-term provisions	49.700	24.900	15.900
Total Current Liabilities (4)	632.000	386.100	336.000
TOTAL	1391.700	813.700	649.700
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	12.200	13.400	14.800
(ii) Intangible Assets	0.000	0.000	0.100
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	30.900	57.900	34.600
(d) Long-term Loan and Advances	5.300	25.500	35.300
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	48.400	96.800	84.800
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1027.500	529.700	396.900
(c) Trade receivables	31.100	54.800	23.700
(d) Cash and cash equivalents	255.400	103.700	96.700
(e) Short-term loans and advances	29.300	28.700	47.600
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	1343.300	716.900	564.900
TOTAL	1391.700	813.700	649.700

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	NA	NA	NA
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
Less	EXPENSES		NA	NA	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		245.000	173.117	82.052
Less	DEPRECIATION/ AMORTISATION		7.400	10.257	51.520
	PROFIT BEFORE TAX		237.600	162.860	133.572
Less	TAX		137.200	53.648	45.166
	PROFIT AFTER TAX		100.400	109.212	88.406
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		264.000	154.788	66.382
	BALANCE CARRIED TO THE B/S		364.400	264.000	154.788
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	15.500	6.900	13.080
	TOTAL EARNINGS		15.500	6.900	13.080
	Earnings Per Share (Rs.)		55.57	55.57	15.91

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Return on Total Assets (PBT/Total Assets}	(%)	17.46	21.55	21.72
Return on Investment (ROI) (PBT/Networth)		0.46	0.39	0.43
Debt Equity Ratio (Total Debt/Networth)		0.44	0.00	0.07
Current Ratio (Current Asset/Current Liability)		2.13	1.86	1.68

FINANCIAL ANALYSIS

[All figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	152.800	152.800	152.800
Reserves & Surplus	154.800	264.000	364.400
Net worth	307.600	416.800	517.200
long-term borrowings	0.000	0.000	230.000
Short term borrowings	20.000	0.000	0.000
Total borrowings	20.000	0.000	230.000
Debt/Equity ratio	0.065	0.000	0.445

LOCAL AGENCY FURTHER INFORMATION

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	Yes
10]	Designation of contact person	Yes
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]	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

Note: The Registered Office of the company has been shifted from D -2, 4^th Floor, Southern Park, DDA Commercial Centre, Saket, New Delhi – 110017, Delhi, India to the present address w.e.f. 17.06.2010.

FINANCIAL RESULTS

The working of your Company for the financial year, after making provision for depreciation / amortisation of Rs.7.400 resulted in a profit of Rs. 237.600. After making provision for current tax of Rs. 110.200 and deferred taxation of Rs. 27.000, the profit after tax was Rs. 100.400. After bringing forward the balance in the Profit and Loss Account of Rs. 264.000 the balance of Rs. 364.400 has been carried to the Balance Sheet as at 31st March 2013.

UNSECURED LOAN

Particulars	As on 31.03.2013	As on 31.03.2012
	(Rs. In Millions)
LONG TERM BORROWINGS:
Intercorporate Borrowings	230.000	0.000
Total	230.000	0.000

INDEX OF CHARGES:

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	90053807	03/12/2004 *	35,000,000.00	BANQUE NATIONAL DE PARIS	II-FLOOR DLF CENTRE, PARLIAMENT STREET, NEW DELHI, DELHI, INDIA	-
2	90053463	28/11/1998	10,000,000.00	STANDARD CHARTERED BANK	SANSAD MARG, NEW DELHI, DELHI, INDIA	-

PRESS RELEASE:

THE NEW ENGLAND JOURNAL OF MEDICINE PUBLISHES RESULTS OF FINAL LANDMARK PHASE III EFFICACY CLINICAL STUDY OF SANOFI PASTEUR’S DENGUE VACCINE CANDIDATE

November 03, 2014

- Study successfully met primary objective and confirms high efficacy against severe dengue and hospitalization

- Sanofi Pasteur intends to file for registration in several endemic countries in 2015

- Dengue vaccine candidate would address an unmet medical need in tropical and sub-tropical regions of the world

LYON, FRANCE - 3RD NOVEMBER, 2014 - SANOFI

Pasteur, the vaccines division of Sanofi, today announced the publication of the detailed results of the final landmark phase III clinical efficacy study in Latin America in The New England Journal of Medicine.1 Overall efficacy against any symptomatic dengue disease was 60.8 percent* in children and adolescents 9-16 years old who received three doses of the vaccine. Analyses show a 95.5 percent* protection against severe dengue and an 80.3 percent* reduction in the risk of hospitalization during the study. The results of this second phase III efficacy study confirm the high efficacy against severe dengue and the reduction in hospitalization observed during the 25-month active surveillance period of the first phase III efficacy study conducted in Asia 2, highlighting the consistency of the results across the world. 

Safety analyses (solicited reactions, unsolicited events and Serious Adverse Events SAEs) during the study showed similar reporting rates between the vaccine and control groups and are consistent with the favorable safety profile observed during the 25-month active surveillance period of the previous efficacy study conducted in Asia. The full data of the Latin American study are also presented at the American Society of Tropical Medicine and Hygiene (ASTMH) Annual Meeting, 2-6 November 2014. 

Sanofi Pasteur’s phase III efficacy clinical study program for its dengue vaccine candidate was conducted in over 31,000 participants across 10 endemic countries in Asia2 and Latin America. Sanofi Pasteur will file for registration of its vaccine candidate and, subject to regulatory approval, the world’s first dengue vaccine could be available in the second half of 2015. 

“We plan to submit the vaccine for licensure in 2015 in endemic countries where dengue is a public health priority,” said Olivier Charmeil, President and CEO of Sanofi Pasteur. “We are committed to supporting countries’ ambitions to significantly impact the human and economic burden of dengue through comprehensive vaccination programs. Our goal is to help meet the WHO’s objectives to reduce dengue mortality by 50% and morbidity by 25% by 2020.”

Dengue is a threat to over 2.5 billion people, nearly half the world’s population, and is a pressing public health priority in over 100 countries in the Americas and in Asia.3 Every year, an estimated 500,000 people, including children, are hospitalized due to severe dengue, which puts a huge strain on health care systems particularly during outbreaks.3 Dengue has dramatically increased over the past 30 years with an acceleration over the last decade due to travel and urbanization.

“Healthcare systems can be paralyzed when trying to cope with a dengue outbreak. The economic and societal costs can be staggering,” said Dr Roberto Tapia-Conyer, Director General Carlos Slim Foundation, Mexico. “Broad public immunization programs will be critical in achieving the full benefit of a dengue vaccine within a public health perspective, to reach the control of the disease.”

“Until now, we were only able to provide supportive care for patients with dengue. On the strength of the outcome of this phase III efficacy study, we hope this will become an effective preventive measure against dengue,” said Dr. Rivaldo Cunha, MD, Infectious Disease Specialist, Associate Professor, Faculty of Medicine Universidade de Mato Grosso do Sul, Brazil, and a principal investigator in the study. “I will welcome a dengue vaccine that can prevent the personal suffering of severe disease and hospitalization.”  

Sanofi Pasteur is already producing the vaccine in a newly dedicated production facility in Neuville-sur-Saône, France, which will be capable of providing timely supply of large quantities of vaccines to meet the global public health demand. 

*95 percent CIs efficacy against severe dengue [68.8 percent, 99.9 percent]; 95 percent CIs overall efficacy [52.0 percent, 68.0 percent]; 95 percent CIs reduction of the risk of hospitalization [64.7 percent, 89.5 percent] 

ABOUT THE PHASE III CLINICAL STUDY CONDUCTED IN LATIN AMERICA AND THE CARIBBEAN

The primary objective of the phase III study in Latin America and the Caribbean was to assess the efficacy and safety of the Sanofi Pasteur dengue vaccine candidate after three vaccinations in preventing symptomatic virologically-confirmed dengue cases. A total of 20,869 children aged 9 to 16 years from dengue endemic areas of Brazil, Colombia, Mexico, Honduras and Puerto Rico participated in the study and were randomized to either receive three injections of the dengue vaccine or a placebo (2 to 1 ratio) at 0, 6, and 12 months.1 

ABOUT SANOFI PASTEUR’S DENGUE VACCINE CLINICAL PROGRAM

Sanofi Pasteur has been working on a dengue vaccine for more than 20 years. The company’s goal is to make dengue the next vaccine-preventable disease with a safe and effective dengue vaccine accessible in all regions of the world where dengue is a public health issue. The company is committed to support the WHO’s ambition to reduce dengue mortality by 50 percent and morbidity by 25 percent by 2020.4 

Two pivotal phase III efficacy studies involved more than 31,000 volunteers from Asia (Indonesia, Malaysia, the Philippines, Thailand and Vietnam) and Latin America and the Caribbean (Brazil, Colombia, Honduras, Mexico and Puerto Rico). The phase III evaluations provide pivotal data on efficacy, safety, and immunogenicity of the vaccine candidate in a broad population and different epidemiological environments and assess the potential impact of the vaccine on the disease burden. 

Sanofi Pasteur’s dengue vaccine candidate is the most clinically and industrially advanced dengue vaccine candidate in development. Over 40,000 volunteers participated in the Sanofi Pasteur dengue vaccine clinical study program (phase I, II and III). 

About dengue
Dengue is caused by four distinct virus serotypes transmitted by mosquitoes. It is a threat to nearly half of the world’s population. Currently, there is no specific treatment available for dengue. It is a health priority in many countries of Latin America and Asia where epidemics occur regularly. The WHO estimates that there are up to 100 million infections per year2; however, the overall number of people infected with dengue globally is not fully known. The WHO has set the goal of estimating the true public health burden of dengue by 2015.5 The burden of dengue is generally underestimated. The majority of current surveillance programs are passive and are not intended to assess disease burden.5  Also the similarity of dengue symptoms to other common infectious diseases may result in dengue cases being incorrectly reported.6 Moreover, a large proportion of dengue infections are asymptomatic and therefore unreported.7 

Each year, an estimated 500,000 people, including children, with severe dengue require hospitalization. About 2.5% affected would die.2 Severe dengue (also known as dengue haemorrhagic fever) is a potentially deadly complication due to plasma leakage, fluid accumulation, respiratory distress, severe bleeding, or organ impairment.2 Dengue places tremendous pressure on health systems and strains medical resources resulting in significant economic and social impact. Timely access to appropriate health care is critical to reduce the risk of mortality in case of severe dengue. The WHO has set the target to reduce dengue mortality by 50% and reduce morbidity by 25% by 2020.4 

About Sanofi

Sanofi, a global healthcare leader, discovers, develops and distributes therapeutic solutions focused on patients’ needs. Sanofi has core strengths in the field of healthcare with seven growth platforms: diabetes solutions, human vaccines, innovative drugs, consumer healthcare, emerging markets, animal health and the new Genzyme. Sanofi is listed in Paris (EURONEXT: SAN) and in New York (NYSE: SNY). 

Sanofi Pasteur, the vaccines division of Sanofi, provides more than one billion doses of vaccine each year, making it possible to immunize more than 500 million people across the globe. A world leader in the vaccine industry, Sanofi Pasteur offers the broadest range of vaccines protecting against 20 infectious diseases. The company's heritage, to create vaccines that protect life, dates back more than a century. Sanofi Pasteur is the largest company entirely dedicated to vaccines. Every day, the company invests more than EUR 1 million in research and development.

BHAICHUNG BHUTIA JOINS SANOFI INDIA’S ‘STEPS THAT COUNT’

Hyderabad, Oct 11:

On the eve of World Arthritis Day 2014, Bhaichung Bhutia, former captain of India’s football team, joined healthcare major Sanofi India’s ‘Steps that Count’ initiative to raise awareness on knee osteoarthritis. The initiative encourages patients to live well with osteoarthritis by following the three important steps of Talk- Control- Exercise.

According to Dr. Karthik Pingle, Consultant Orthopedic Surgeon, Apollo Jubilee Hills, Hyderabad, “After diabetes, osteoarthritis is considered the second most prevalent disease in the age group of 30-55 years. Of all the joints, osteoarthritis of the knee joint is the most common. A number of factors such as sedentary lifestyle, rising obesity and poor dietary habits contribute to the high prevalence of knee osteoarthritis”. Knee osteoarthritis is now striking people at a younger age and leading to chronic disability and compromised quality of life.

Speaking on the occasion Dr. Senthilnathan Mohanasundaram, Director- Medical Affairs, Sanofi India stated, “With over 15 million patients, India has the second largest osteoarthritis patient base– women forming a large portion of this population3. We are delighted to have Bhaichung Bhutia support Sanofi’s ‘Steps that Count’ initiative that aims to raise awareness on knee osteoarthritis among young arthritic patients (30-55 years age). Bhaichung’s testimonial and experience with viscosupplementation will motivate patients to explore treatment options with their specialists and lead an active and better quality life.”

Depending upon the grade of knee osteoarthritis, treatment options include a combination of exercise, a healthy diet, painkillers, viscosupplementation injections as well as surgical procedures to relieve pain and restore function.

Dr. Sachin Yadav, Orthopedics & Sports Medicine Consultant, Skyline Hospital & Ayushman Hospital, Delhi, and Bhaichung Bhutia’s treating physician shared, “I have found viscosupplementation to be an effective option for young active individuals such as Bhaichung Bhutia as it enables them to maintain their active lifestyles. This is supported by the recently published OASIS (Osteoarthritis Synvisc One Indian Post Marketing Study) which concluded that viscosupplementation with Synvisc One was well tolerated and effective in reducing knee pain in an osteoarthritis patient with a significant long-term (1 year) improvement of outcomes4”.

Viscosupplementation involves injecting a fluid into the joint- which mimics the natural synovial fluid- and helps lubricate and cushion the diseased joint5. This enables increased flexibility, easy movement and helps reduce pain. While sharing his experience Bhaichung Bhutia stated, “As part of Sanofi’s ‘Steps that Count’ initiative, I am here to share my story and the significance of timely intervention to deal with knee osteoarthritis, which is an extremely painful condition. I needed a solution that would help me maintain my active lifestyle, and am grateful to my doctor for suggesting viscosupplementation with Synvisc One. This simple treatment has today enabled me to live well with knee osteoarthritis, and to continue to do the things I enjoy– foremost among them being playing football.”

Viscosupplementation usually does not have any side effects such as those associated with steroids and painkillers, and seeking timely treatment from their doctors can help patients keep their joints healthy.

APOLLO HOSPITALS AND SANOFI ANNOUNCE COLLABORATION TO PROVIDE AN INTEGRATED CARE PROGRAM IN INDIA FOR PEOPLE WITH DIABETES

Apollo Hospitals and Sanofi today announced their decision to collaborate on the expansion of Apollo Sugar Clinics, which provide integrated diabetes care programs in India. Through this collaboration, Apollo and Sanofi plan to leverage their respective expertise in diabetes to provide patients with access to comprehensive educational resources, treatment and care programs that can help patients better manage their diabetes. The first wave of this collaboration will focus on the establishment of 50 Apollo Sugar Clinics.

Non-communicable diseases (NCDs) are responsible for more than 36 million deaths each year with close to 80% of them being recorded in low and middle income countries[i]. Further, the economic burden of NCDs in India is estimated to be greater than $6 trillion, for the period 2012-2030[ii]. Diabetes, a prominent NCD, has afflicted close to 382 million people globally with India alone accounting for over 65 million people with diabetes[iii] and 77.2 million people diagnosed as being pre-diabetic[iv]. The number of people with diabetes in India is expected to rise to 109 million by 2035iii.

In line with concentrated efforts towards controlling the burgeoning diabetes epidemic - both globally and in India, the Apollo Sugar Clinics endeavour is to make diabetes ‘disease-free’ by offering easy access to an integrated diabetes care solution within a clinical infrastructure, which promotes early detection and treatment of diabetes and associated complications, strengthened by lifestyle management and behaviour change programs. All these together can lead to better compliance with necessary treatments and potentially lead to better patient outcomes.

Commenting on the collaboration, Dr. Prathap Reddy, Chairman – Apollo Hospitals Group shared “Over the years, Apollo Hospitals has benchmarked global best practices in quality healthcare delivery with stringent alignment to approved standards and protocols. With the increasing burden of diabetes in our society, we need to act quickly and with a sense of purpose to arrest the disease from claiming more lives. I am confident that through Apollo Sugar Clinics we will be able to offer patients advanced care and counselling that will help them better manage their condition. This is a good start towards improving the diabetes infrastructure in India and I am delighted to be partnering with Sanofi, a global leader in diabetes management. Our shared vision will shape a new approach to diabetes care that can benefit patients in India and other parts of the world.”

“Sanofi has a heritage of nearly 100 years in developing treatments for diabetes and understands the impact that local expertise and innovative care models can have for patients who are managing their diabetes,” said Christopher A. Viehbacher, Chief Executive Officer, Sanofi. “By joining together to expand the Apollo Sugar Clinics, Sanofi and Apollo are demonstrating our commitment to delivering a superior patient experience that offers support at various stages of the diabetes care journey and aims to reduce the burden of diabetes.”

While the population of people with diabetes in India is very high, many patients are either unaware of their condition, or are poorly controlled. They need better awareness about the disease, its complications, management and must also have access to the latest treatment options. In this regard, Sangita Reddy, Chairperson, Apollo Sugar and Joint Managing Director, Apollo Hospitals said “Apollo has presented at the American Diabetes Association and been recognized for delivering clinical outcomes in managing diabetes, some of which were attempted and successful for the first time in India. However, we as a country are still battling to shed the image of being considered the diabetes capital of the world.  We understand that a diagnosis of diabetes and the pursuit of necessary lifestyle changes can be daunting for patients. So our aim is to help patients get access to the right treatment and counseling for them to know that diabetes can be managed. At Apollo Sugar Clinics, a patient with diabetes has access to information, co-morbidities management, counselling, care and treatment. This really makes the transition much easier. We are keen to take Apollo’s comprehensive offering to many more parts of India.”

Apollo Sugar will be a part of Apollo Health & Lifestyle, the arm of Apollo that is driving its rapid growth in primary and secondary healthcare. In conclusion, Gagan Bhalla, CEO, Apollo Sugar said “Studies show that the average person with diabetes in urban India spends approx. Rs. 30,000 per year on treatment. Moreover, the cost of late diagnosis of diabetes is known to result in 10 times to 18 times higher spending – these kinds of staggering numbers can become a substantial financial drain and even a cause for indebtedness for families.  At Apollo Sugar, we believe that by offering the best clinical care delivered in our conveniently located facilities, combined with a comprehensive, 360-degree patient lifestyle management program, we can enable patients to manage diabetes in a more efficient and effective manner while striving to achieve a ‘disease-free’ lifestyle”.

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

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 judgment 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.61.52
UK Pound	1	Rs.97.39
Euro	1	Rs.76.16

INFORMATION DETAILS

Information Gathered by :	HNA
Analysis Done by :	RAS
Report Prepared by :	JAY

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		47

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	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.