MIRA INFORM REPORT

Report Date :

29.10.2014

IDENTIFICATION DETAILS

Name :	B Y B FARMACEUTICA LIMITADA
Registered Office :	Avenida Parinacota 381 Of. Quilicura Santiago
Country :	Chile
Date of Incorporation :	25.07.2002
Legal Form :	Limited Company
Line of Business :	Subject imports and distributes pharmaceutical products.
No of Employees :	25

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear

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)
Chile	A2	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

CHILE - ECONOMIC OVERVIEW

Chile has a market-oriented economy characterized by a high level of foreign trade and a reputation for strong financial institutions and sound policy that have given it the strongest sovereign bond rating in South America. Exports of goods and services account for approximately one-third of GDP, with commodities making up some three-quarters of total exports. Copper alone provides 19% of government revenue. From 2003 through 2013, real growth averaged almost 5% per year, despite the slight contraction in 2009 that resulted from the global financial crisis. Chile deepened its longstanding commitment to trade liberalization with the signing of a free trade agreement with the US, which took effect on 1 January 2004. Chile has 22 trade agreements covering 60 countries including agreements with the European Union, Mercosur, China, India, South Korea, and Mexico. Chile has joined the United States and nine other countries in negotiating the Trans-Pacific-Partnership trade agreement. The Chilean Government has generally followed a countercyclical fiscal policy, accumulating surpluses in sovereign wealth funds during periods of high copper prices and economic growth, and generally allowing deficit spending only during periods of low copper prices and growth. As of 31 December 2012, those sovereign wealth funds - kept mostly outside the country and separate from Central Bank reserves - amounted to more than $20.9 billion. Chile used these funds to finance fiscal stimulus packages during the 2009 economic downturn. In May 2010 Chile signed the OECD Convention, becoming the first South American country to join the OECD.

Source : CIA

STATUTORY
Legal Name:	B Y B FARMACEUTICA LIMITADA
Trade Name:	B Y B FARMACEUTICA
RUT:	77787390-3
Date Created:	2002
Date Incorporated:	July 25, 2002
Legal Address:	Avenida Parinacota 381 Of. Quilicura Santiago Chile
Operative Address:	Avenida Parinacota 381 Of. Quilicura Santiago Chile
Telephone:	(56-2) 2739 2372
Fax:	(56-2) 2739 2372
Legal Form:	Limited Company
Email:	labnacional@labnacional.cl
Registered in:	Chile
Website:	NA
Manager:	Alvaro Sibilla L
Staff:	25
Activity:	Pharmaceutical Products Wholesaler
NAICS Code	5122
SIC Codes:	424210
BANKS
BANK	Banco de Santiago
	The company does not make its banking information public.
HISTORY
	The company was incorporated in 2002.
MAIN ACTIVITY
	The company imports and distributes pharmaceutical products.
Products/Services:	ANTIULCER OMEPRAZOL FOOD SUPPLEMENT ANTIFUNGAL ANTIBIOTIC DICHLOROPHENYL FOIL MULTI VITAMIN ANTI-INFLAMMATORY
Brands:	OMEPRAZOL ICGF AMOXICILINA MEDOPHARM INGCHINA CLOTRIMAZOL MEDROCKF HETEROLABS DICLOFENACOSODICO
Sales:	Wholesale
Clients:	Pharmacies
Competitors:	ARAMA LABORATORIOS Y CIA LTDA ASTRAZENECA SA SANOFI-AVENTIS DE CHILE S.A.
Suppliers	The company has suppliers in India, China and Peru.
Operations Area:	National
The company imports from	China, Peru, India
The company does not export
The company employs	25 employees
Payments:	Regular
LOCATION
Headquarters :	Avenida Parinacota 381 Of. Quilicura Santiago Chile
Branches:	The company does not have branches
Business Industry:	Companies in this industry serve as wholesale distributors of drugs and other pharmaceutical products. Demand for pharmaceutical distribution is driven by the need to treat illness and disease. The profitability of individual companies is determined by the efficient distribution of a wide variety of drugs and medications. Large companies compete intensely on price, size of generic drug portfolio, product volume and variety, and the quality of value-added support services such as supply chain management. Small companies can compete by focusing on rural areas, independent community pharmacies, or the distribution of drugs that have special handling requirements. Major products include branded and generic prescription drugs, which account for about 75 percent of industry revenue. Other products include over-the-counter (OTC) medications, personal care products, vitamins, veterinary medicines, and surgical and medical supplies and equipment. Distributors generally act as intermediaries in the ordering and delivery of pharmaceuticals and related products obtained from manufacturers. Because the drug manufacturing industry is highly concentrated, some distributors may purchase inventory from a fairly small number of suppliers.
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders %:	This is private Company. Despite our long search, we could not conifirm major holders.
Management:	Alvaro Sibilla L, Responsible CASTILLO SANTANDER RODRIGO ANTONIO, Responsible
Related companies:	Non
FINANCIAL INFORMATION
	This is a private company which does not make its financial figures. The following information has been provided by outside sources.
Currency USD
Date	2013
Turnover	4 500 000
The cash flow is	Normal
Imports US$
Year	Total
2013	US$ 1,195,180
2012	US$ 1,198,371
2011	US$ 357,481
2010	US$ 145,716
LEGAL FILINGS
	The sources consulted record no detrimental legal or labor court information.
SUMMARY
	B Y B FARMACEUTICA is a Chilean company dedicated to the import and distribution of pharmaceutical products. The company mainly imports from India, China and Perú and distributes within the country. It has 12 years of experience in the markets and imports approximately 1.5 M USD annually. There are no negative for the subject. However, it has a low commercial profile.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	Slow but correct
CASH FLOW	Normal
ENTERVIEW
NAME	NA
POSITION	Receptionist
COMMENTS	We contacted a woman who confirmed name of the company, address, activity, products, she refused to confirm financial information.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.35
UK Pound	1	Rs.98.93
Euro	1	Rs.77.92

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	SMN

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.