MIRA INFORM REPORT

 

 

Report Date :

27.11.2014

 

IDENTIFICATION DETAILS

 

Name :

INSTITUTO TERAPÊUTICO DELTA LTDA

 

 

Registered Office :

Estrada Alameda Capovilla, 129 - Recreio Campestre, 13347-310 - Indaiatuba/Sp

 

 

Country :

Brazil

 

 

Date of Incorporation :

13.06.1947

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture of Pharmaceuticals.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

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 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Brazil

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

BRAZIL - ECONOMIC OVERVIEW

 

Characterized by large and well-developed agricultural, mining, manufacturing, and service sectors, and a rapidly expanding middle class, Brazil's economy outweighs that of all other South American countries, and Brazil is expanding its presence in world markets. Since 2003, Brazil has steadily improved its macroeconomic stability, building up foreign reserves, and reducing its debt profile by shifting its debt burden toward real denominated and domestically held instruments. In 2008, Brazil became a net external creditor and two ratings agencies awarded investment grade status to its debt. After strong growth in 2007 and 2008, the onset of the global Financial crisis hit Brazil in 2008. Brazil experienced two quarters of recession, as global demand for Brazil's commodity-based exports dwindled and external credit dried up. However, Brazil was one of the first emerging markets to begin a recovery. In 2010, consumer and investor confidence revived and GDP growth reached 7.5%, the highest growth rate in the past 25 years. Rising inflation led the authorities to take measures to cool the economy; these actions and the deteriorating international economic situation slowed growth in 2011-13. Unemployment is at historic lows and Brazil's traditionally high level of income inequality has declined for each of the last 14 years. Brazil's historically high interest rates have made it an attractive destination for foreign investors. Large capital inflows over the past several years have contributed to the appreciation of the Currency, hurting the competitiveness of Brazilian manufacturing and leading the government to intervene in foreign exchange markets and raise taxes on some foreign capital inflows. President Dilma ROUSSEFF has retained the previous administration's commitment to inflation targeting by the central bank, a floating exchange rate, and fiscal restraint.

 

Source : CIA

 

 

 

 

Company Name

 

INSTITUTO TERAPÊUTICO DELTA LTDA

 

 

ADDRESSES

 

MAIN ADDRESS:

ESTRADA ALAMEDA CAPOVILLA, 129 - RECREIO CAMPESTRE

ZIP CODE/CITY:

13347-310 - INDAIATUBA/SP

 

 

PHONE:

19 3801-8900

FAX:

19 3801-8900

E-MAIL:

karla.rodrigues@valeant.com

WEB SITE:

www.labdelta.com.br

 

BRANCHES:

 

NOT AVAILABLE.

 

 

LEGAL DATA

 

MAIN ACTIVITIES:

 

MANUFACTURE OF PHARMACEUTICALS.

 

LEGAL FORM:

LIMITED LIABILITY COMPANY

 

 

INCORPORATION DATE:

13/06/1947

REGISTER DATE:

13/06/1947

BALANCE SHEET FILING DATE:

31/12

TAX CONTRIBUTOR NUMBER(CNPJ):

33.173.097/0002-74

STATE REGISTER:

353.230.110.118

SHARE CAPITAL:

R$ 98.790.563,00

LAST REGISTER OF CAPITAL:

04/05/2012

 

BOARD OF DIRECTORS:

 

 

 

MARCELO NOLL BARBOZA

MANAGER

GUILHERME MARADEI

MANAGER

PHILIP WALDEN LOBERG JR

MANAGER

 

 

AUTHORIZED USE OF SIGNATURE

 

THE MANAGERS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY.

 

SHAREHOLDERS / PARTNERS:

 

 

 

VALEANT FARMACÊUTICA DO BRASIL LTDA

R$ 98.790.562,00

VALEANT PHARMACEUTICALS INTERNATIONAL

R$ 1,00

 

 

AFFILIATES / SUBSIDIARIES:

 

 

 

A SCAN THROUGH OUTSIDE SOURCES SHOWED THE SUBJECT AND/OR PARTNERS HAS/HAVE THE FOLLOWING UNCONFIRMED HOLDINGS:

 

 

FARMERVILLE PARTICIPAÇÕES LTDA.

 

CALABAR PARTICIPAÇÕES LTDA.

 

BUNKER INDUSTRIA FARMACEUTICA LTDA

 

RECOPHAR COMERCIO E REPRESENTAÇÕES LTDA.

 

 

 

COMPANY'S BACKGROUND

 

HE SUBJECT WAS ESTABLISHED ON JUNE 13, 1947 TO BE ENGAGED IN THE SAID LINE OF BUSINESS AND UP TO DATE IT IS STILL OPERATING WITHIN THE GENERAL SCENE REPORTED HEREIN.

 

TRADE NAME: "LABORATÓRIO DELTA".

 

ON FEBRUARY 03, 2011 THE COMPANY TOOK OVER CALABAR PARTICIPAÇÕES LTDA.

 

PARTNERS:

 

VALEANT FARMACÊUTICA DO BRASIL LTDA: REGISTRATION NIRE 35.202.716.120, HEADQUARTERED AT RUA MARIO JUNQUEIRA DA SILVA, 736/766, JARDIM EULINA, ZIP CODE 13063-000, CAMPINAS/SP;

 

VALEANT PHARMACEUTICALS INTERNATIONAL: HEADQUARTERED AT IRVINE CENTER DRIVE 7545 SALA 100 DE 92618.

 

FURTHER DETAILS ARE SO FAR NOT KNOWN.

 

REMARKS:

--------------

 

WHEN CONTACTING THE SUBJECT WE INTERVIEWED MRS. KARLA - FINANCIAL DEPARTMENT, WHO INFORMED THAT WOULD NOT DISCLOSE ANY KIND OF INFORMATION UNLESS THE INQUIRING PARTY'S NAME WAS DISCLOSED.

 

IF IT IS POSSIBLE TO DISCLOSE THE NAME OF THE INTERESTED SUPPLIER OF THE SUBJECT, WE MAY RESUME OUR CONTACTS AND TRY TO OBTAIN FURTHER INFORMATION.

 

THE DATA CONTAINED HEREIN WERE OBTAINED FROM OUTSIDE SOURCES, OUR DATABASE AND OFFICIAL. NO FURTHER DATA WAS AVAILABLE WITH SEVERAL SOURCES USUALLY INVESTIGATED.

 

PUBLIC INFORMATION:

 

LAWSUITS:

 

 

 

DATE:

COURT OF LAW:

 

1

FEDERAL LAWSUIT

20/09/13

VARA DE SP-INDAIATUBA

 

 

FINANCIAL INFORMATION

 

THE SUBJECT FILES THE ACCOUNTS THROUGH AN ACCOUNTANCY PROCEEDING NAMED "LUCRO PRESUMIDO" (PRESUMED PROFIT) WHICH EXEMPTS IT OF BUILDING UP BALANCE SHEET OR ANY OTHER BOOKING PROCEEDINGS WHICH ARE USUAL FOR COMPANIES WHICH FILE ACCOUNTS THROUGH THE ACCOUNTANCY PROCEEDING NAMED "LUCRO REAL" (REAL PROFIT).

 

WHEN INTERVIEWED THE SOURCES AT THE SUBJECT WE WERE INFORMED THAT THEY WOULD NOT PROVIDE ANY FINANCIAL FIGURE PER POLICY.

 

OUTSIDE SOURCES CONTACTED SHOWED THE FOLLOWING DATA ABOUT THIS COMPANY:

 

2003 TOTAL SALES: R$ 18.172.032,11

2004 TOTAL SALES: R$ 23.758.401,04

 

EXCHANGE RATE:

 

 

US$ 1,00 = R$ 2,52

 - OFFICIAL RATE ON 25/11/2014

 

COMMENTS ON THE FINANCIAL INFORMATION:

 

IN THE ABSENCE OF BALANCE SHEET INFORMATION NO COMMENTS CAN BE MADE ABOUT THE SUBJECT'S CURRENT FINANCIAL STANDING.

 

ACCORDING TO THE RULES OF THE ACCOUNTANCY PROCEEDING FOLLOWED BY THE SUBJECT, IT COLLECTS THE TAXES, WHICH ARE DUE OVER THE GROSS SALES AMOUNT. THE TAXES SHOULD BE COLLECTED EITHER WITH PROFIT OR LOSS AT THE END OF THE FISCAL YEAR.

 

REGARDING THE RULES OF THE ABOVE SAID PROCEEDING IT MAY BE POSSIBLE TO STATE THAT COMPANIES WHICH FILE ACCOUNTS THROUGH THIS PROCEEDING ARE PROFITABLE COMPANIES. IT IS STATED BECAUSE THE MAIN DIFFERENCE OF THE PROCEEDING NAMED "LUCRO REAL" AND THE ONE NAMED "LUCRO PRESUMIDO" IS THAT IN THE FIRST THE COMPANY ONLY PAYS INCOME TAX WHEN IT HAS PROFIT AT THE END OF THE FISCAL YEAR, WHILE IN THE LAST THE COMPANY PAYS INCOME TAX REGARDLESS IT HAS PROFIT OR LOSS. THEREFORE, IF ANY COMPANY WHICH ADOPTS THE "PRESUMED PROFIT" PROCEEDING WAS NOT PROFITABLE IT WOULD BE A BETTER OPTION TO FILE ACCOUNTS THROUGH THE "LUCRO REAL" PROCEEDING BECAUSE IN THIS PROCEEDING TAXES ARE DUE ONLY WHEN PROFITABLE RESULTS ARE MET. IN CASE OF LOSSES NO INCOME TAX IS DUE.

 

REAL ESTATE:

 

NOT AVAILABLE

 

VEHICLES:

 

OWNED VEHICLES ARE VALUED AT R$ 53.782,86

 

MACHINES:

 

OWNED MACHINES AND EQUIPMENTS ARE VALUED AT R$ 218.476,49

 

 

INSURANCE

 

NOT AVAILABLE.

 

 

BANKING REFERENCES

 

 

BRANCH/PHONE:

 

BANCO BRADESCO S/A

298-4  / 11 3296-0411

 

BANCO DO BRASIL S/A

1192-4

 

 

REMARKS: IN BRAZIL THE BANKS ARE PROHIBITED BY LAW TO PROVIDE INFORMATION OR ANY KIND OF COMMENTS ABOUT THEIR CLIENTS. DUE TO THIS LAW PROHIBITION WE ARE UNABLE TO PROVIDE ANY BANKING DETAILS.

 

ACCORDING TO THE CENTRAL BANK OF BRAZIL OFFICIAL REPORT, THE COMPANY HAS NO RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682 BRAZILIAN CENTRAL BANK").

 

 

ACTIVITIES COMMENTS

 

THE SUBJECT IS ENGAGED IN THE MANUFACTURE AND SALE OF PHARMACEUTICAL PRODUCTS.

 

IMPORT AND EXPORT:

 

IMPORTS FROM:

INDIA.

 

EXPORTS TO:

DOES NOT EXPORT.

 

MAIN CLIENTS:

 

 

 

 

 

DOMESTIC CLIENTS:

 

 

DIMESUL DISTRIBUIDORA DE MEDICAMENTOS LTDA

 

 

DISNAT DISTRIBUIDORA DE PRODUTOS NATURAIS

 

 

DISTRIBUIDORA NAWARRO LTDA

 

 

 

STAFF:

 

   NOT AVAILABLE

 

 

CONCEPT AND FULFILMENT

 

THE SUBJECT IS AN OLD AND WELL-ESTABLISHED COMPANY. IT IS FAMILY-OWNED AND MANAGED BY WELL-EXPERIENCED STAFF. BOTH THE COMPANY AND ITS PRINCIPALS HAVE A GOOD TRADE REPUTATION AND A CLEAR HISTORY.

 

THE COMPANY HAS TRADE RELATIONS WITH SOME LOCAL SUPPLIERS BUT UP TO DATE ONLY SMALL PAYMENTS WERE REPORTED AND THE SUBJECT IS NOT SAID TO BE USER OF TRADE CREDIT FACILITIES.

 

THE LAWSUIT REPORTED IS NOT RELATED WITH TRADE DEBT. IT IS RELATED TO TAX DEBT THAT FOR ANY REASON THE COMPANY HAS NOT YET PAID. NEVERTHELESS WE POINT OUT THAT THE SAID LAWSUIT DOES NOT AFFECT THE COMPANY'S TRADE REPUTATION.

 

 

MAIN SUPPLIERS:

 

 

 

 

 

DOMESTIC SUPPLIERS:

 

PHONE:

ALLPLAS EMBALAGENS LTDA

 

11 4612-2233

BISFARMA IND. DE EMBALAGENS LTDA

 

19 3893-3544

CHEMICAL IND. COMÉRCIO E REPRES. LTDA

 

11 5542-6647

EMEFARMA RIO REPRESENTACOES LTDA

 

 

ESKISA S/A INDÚSTRIA E COMÉRCIO

 

11 5536-0533

FORLAB-CHITEC S/A COMÉRCIO INTERNACIONAL

 

21 2221-2696

GIMBA SUPRIMENTOS DE ESCRITORIO E INFORMATICA LTDA

 

 

INDUKERN DO BRASIL QUIMICA LTDA.

 

 

LAWES MÁQUINAS E EQUIPAMENTOS LTDA

 

11 4178-3311

LIBRA ARTES GRÁFICA LTDA

 

11 6966-0949

MASE PRODUTOS QUÍMICOS E FARMACÊUTICOS LTDA

 

11 3277-2920

MEGAMED 1600 DISTRIBUIDORA DE MEDICAMENTOS, PERFUMARIA E COR

 

 

PRINT INDÚSTRIA DE ARTES GRÁFICAS LTDA

 

11 5667-2933

TECNOPHARMA IND. COM. DE EMBALAGENS LTDA

 

11 5679-6514

VALDEQUIMICA PRODUTOS QUIMICOS LTDA

 

11 3721-1077

VEDAT TAMPAS HERMÉTICAS LTDA

 

11 4704-4266

 

PAYMENT HISTORY:

 

07 SUPPLIERS REPORTED PAYMENTS:

   TOTAL AMOUNT:  R$ 79.515,00

 

AMOUNT OF INVOICES PAID: 17

TOTAL OF PROMPT PAYMENTS: 100%

HIGHEST INVOICE: R$ 11.513,00

HIGHEST CREDIT: R$ 11.513,00

 

 

FINAL OPINION

 

BASED ON THE OVERALL DATA AVAILABLE THE SUBJECT MAY BE CONSIDERED FOR NORMAL BUSINESS COMMITMENTS. CREDIT FACILITIES, HOWEVER, SHOULD BE GRANTED ON FULLY SECURED TERMS ONLY DUE TO THE ABSENCE OF FINANCIAL DATA.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.87

UK Pound

1

Rs.97.23

Euro

1

Rs.77.21

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NIT

 

               

RATING EXPLANATIONS

 

RATING

STATUS

PROPOSED CREDIT LINE

 

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

 

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

 

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

 

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

 

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

 

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

 

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

Credit not recommended

 

--

NB

New Business

 

--

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

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.