MIRA INFORM REPORT
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Report No. : |
353801 |
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Report Date : |
17.12.2015 |
IDENTIFICATION DETAILS
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Name : |
MYLAN PHARMACEUTICALS ULC |
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Registered Office : |
2500-450 1st Street SW, Calgary, Alberta T2P 5H1 |
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Country : |
Canada |
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Date of Incorporation : |
01.01.2015 |
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Legal Form : |
ULC |
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Line of Business : |
·
Manufactures and supplies generic and specialty
pharmaceuticals. ·
Subject provides products for anatomical therapeutic
category that includes cardiovascular system, nervous system, alimentary
tract and metabolism, antineoplastic, and musculo skeletal. |
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No. of Employees : |
600 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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Payment Behaviour : |
No Complaints |
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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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 a high-tech industrial society in the trillion-dollar
class, Canada resembles the US in its market-oriented economic system, pattern
of production, and high 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 merchandise exports each year. Canada is the US's
largest foreign supplier of energy, including oil, gas, and electric power, and
a top source of US uranium imports. Given its abundant 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 early intervention by the Bank
of Canada and the financial sector's tradition of conservative lending
practices and strong capitalization. Canada achieved marginal growth in 2010-14
and plans to balance the budget by 2015 despite the recent drop in oil prices.
In addition, the country's petroleum sector is rapidly expanding, because
Alberta's oil sands significantly boosted Canada's proven oil reserves. Canada
now ranks third in the world in proved oil reserves behind Saudi Arabia and
Venezuela and is the world’s fifth-largest oil producer.
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Source
: CIA |
Company
name & address
Company name: MYLAN PHARMACEUTICALS ULC
Reg. address: 2500-450 1st Street SW,
Calgary, Alberta T2P 5H1 - Canada
Headquarters: 85 Advance Rd, Etobicoke, Ontario M8Z
2S6 - Canada
Telephone: +1
416-236-2631
Fax: +1 416-236-2940
Website: www.mylan.ca
Corporate ID#: AB-2018685343
State: Alberta
Judicial form: ULC
Date incorporated: 01-01-2015
Date founded: 01-01-2003
Stock: -
Value: -
Name of manager: RICHARD
M. GUEST
ACTIVITIES & OPERATIONS
History:
Business started on
01-01-2003 as EM INDUSTRIES CANADA, INC.
On 01-01-2008, merged into
1370623 ALBERTA INC.
On 01-01-2009, merged with
PREMPHARM INC. to create Mylan Pharmaceuticals ULC, incorporated in Alberta
under ID# AB-2014440610
On 01-01-2010, merged with Mylan
Canada ULC, to create Mylan Pharmaceuticals ULC, the new business.
On 01-01-2015: Merger
between
- MYLAN PHARMACEUTICALS ULC
(AB-2015086222)
- AGILA SPECIALTIES PHARMA
CORPORATION
to create the new business.
Business:
Mylan Pharmaceuticals ULC manufactures and supplies generic and
specialty pharmaceuticals.
It provides products for anatomical therapeutic category that includes
cardiovascular system, nervous system, alimentary tract and metabolism,
antineoplastic, and musculo skeletal.
The company was founded in 2003 and is based in Etobicoke, Canada.
Mylan Pharmaceuticals ULC operates as a subsidiary of Mylan Luxembourg 2
SARL.
Staff: 600
Operations & branches:
At the headquarters, we
find the corporate office of the group in Canada.
The address given on your
order:
5525 West Boulevard, Box
920, Vancouver, British Columbia V6M 3W6
is the UPS Store which
rents mailboxes.
SHAREHOLDERS
& MANAGERS
Shareholders:
MYLAN LUXEMBOURG 2 SARL
8 Rue Jean Monnnet
Luxembourg L-2180 Luxembourg
Management:
Naguib FAHMY is the only Director.
Graduate from Aim Shams University in 1979 with a BSC in Science.
From January 2006 to April 2015, he was Vice President of Strategic
Marketing at the former Mylan Pharmaceuticals ULC.
Director at the new MYLAN PHARMACEUTICALS ULC since December 1, 2015.
Subsidiaries
And partnership: None
FINANCIALS
In Canada, privately held
corporations are not required to publish any financials.
On a direct call, nobody
was available to answer our questions.
We sent a fax but no answer
received.
No financials available as
this is a new business.
Banks: Scotia Bank
…
LEGAL
FILINGS
Legal filings & complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: Several
COMPANY CREDIT HISTORY
Trade references:
Date reported: November 2015
High credit: CAD 60,000
Now owing: 0
Past due: 0
Last purchase: October 2015
Line of business: Office supply
Paying status: On terms
Date reported: November 2015
High credit: CAD 800,000
Now owing: 0
Past due: 0
Last purchase: October 2015
Line of business: Payroll
Paying status: As agreed
Date reported: November 2015
High credit: CAD 2,000
Now owing: 0
Past due: 0
Last purchase: October 2015
Line of business: Telecommunications
Paying status: On terms
Domestic credit history:
National Credit Bureaus
gave a satisfying credit rating.
According to our credit analysts, during the last 6 months, domestic
payments were made on due date.
International credit history:
Payments of imports are currently made on terms.
Other comments:
The Company maintains a
regular business.
The Company is in good
standing.
This means that all local
and federal taxes were paid on due date.
Last report was filed on
01-01-2015.
The risk is low.
Our opinion:
A business connection may
be conducted.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.85 |
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|
1 |
Rs.100.57 |
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Euro |
1 |
Rs.73.15 |
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CAD |
1 |
Rs.48.28 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared by
: |
TPT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.