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Report No. : |
327109 |
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Report Date : |
15.06.2015 |
IDENTIFICATION DETAILS
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Name : |
APOTEX INC. |
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Registered Office : |
150 Signet Drive, Toronto, Ontario M9L 1T9 |
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Country : |
Canada |
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Date of Incorporation : |
24.05.1974 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Subject is a pharmaceutical company, engages in the research and
development, manufacture, and distribution of generic pharmaceuticals in Canada
and internationally. It offers products in various dosage forms, such as
liquids, ophthalmics, nasal sprays, and injectables. |
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No. of Employees : |
2,800 (in Canada) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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, uranium, and electric
power. 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. 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.
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Source
: CIA |
Company name: APOTEX
INC.
Address: 150 Signet Drive, Toronto, Ontario
M9L 1T9 - Canada
Telephone: +1
416-749-9300
Fax: +1 416-401-3849
Website: www.apotex.com
Corporate ID#: 001612278
State: Ontario
Judicial form: Corporation – Profit
Date incorporated: April 1
2004
Date founded: May 24, 1974
Stock: -
Value: -
Name of manager: Jeremy
B. DESAI
Business:
Apotex Inc., a pharmaceutical company, engages in the research and
development, manufacture, and distribution of generic pharmaceuticals in Canada
and internationally. It offers products in various dosage forms, such as
liquids, ophthalmics, nasal sprays, and injectables.
The company serves customers through pharmacies and healthcare
facilities.
It also exports its generic pharmaceuticals internationally.
The company was founded in 1974 and is based in Toronto, Canada with
additional offices in Saudi Arabia.
It also has facilities in Montreal, Richmond Hill, Etobicoke,
Mississauga, Brantford, Windsor, Winnipeg, London, Calgary, and Vancouver, Canada;
and subsidiary locations, joint ventures, or licensing agreements primarily in
Australia, Belgium, Czech Republic, Italy, Mexico, the Netherlands, New
Zealand, Poland, and Turkey.
Apotex markets its drugs throughout Canada and the US, as well as in
about 115 other countries in the Asia/Pacific region, Africa, Europe, Latin
America, and the Middle East.
Apotex Inc. operates as a subsidiary of Apotex Pharmaceutical Holdings
Inc.
Last news :
March 30, 2015
Apotex Inc. has announced realignment in its structure and operating
model. The objective of the realignment is to better serve customers through
the establishment of defined lines of business by aligning internal process
streams in support of company strategies. Under the new structure, Apotex will
now operate along 3 core Lines of Business: Global Generics; Global Specialty
Pharma; and Global Active Pharmaceutical Ingredients. Global Generics is
responsible for the delivery of the generics portfolio arising out of the
Apotex group of companies and third parties to all global markets. Global
Specialty Pharma is responsible for the development, manufacturing and global
commercialisation of Biosimilars and other specialty products made by Apotex or
supplied by third parties.
March 16, 2015
Apotex Inc. announced a significant realignment in its structure and
operating model. The objective of the realignment is to better serve customers
through the establishment of defined lines of business by aligning internal
process streams in support of company strategies.
Under the new structure, Apotex will now operate along 3 core Lines of
Business:
- Global Generics: Responsible for the delivery of the generics
portfolio arising out of the Apotex group of companies and third parties to all
global markets.
- Global Specialty Pharma: Responsible for the development,
manufacturing and global commercialisation of Biosimilars and other specialty
products made by Apotex or supplied by third parties.
- Global Active Pharmaceutical Ingredients (API): Responsible for
delivering API to the Apotex Group and sales of select API's to other global
customers. The company announced the following appointments to lead the 3 Lines
of Business, reporting to Dr. Desai.
Effective April 1, 2015: Jeff Watson, currently President of US &
Canada Commercial, will take on the role of President Global Generics;
Steve Lydeamore, currently Chief Business Officer and Managing Director
International, will take on the role of President Global Specialty Pharma; and
Dr. Keshava Murthy will continue in his role of President Global API.
Suppliers include:
SARACA LABORATORIES LTD.
Plot No.320, Swamy Housing Society Ltd,
Madhapur Hyderabad 500 081 India
DIVIS LABORATORIES LIMITED
Divi Towers, Dharam Karan Road, Ameerpet Hyderabad 500 016 India
Staff: 2,800 (in Canada)
Operations & branches:
At the headquarters, we
find a large factory, warehouse and office.
The Company maintains
branches located:
465 Garyray Drive
Toronto, Ontario M9L 1P7
200 Barmac Drive
Toronto, Ontario M9L 2Z7
607-755 Boul. St-Jean
Pointe-Claire, Quebec H9R 5M9
Shareholders:
APOTEX PHARMACEUTICAL
HOLDINGS INC.
150 Signet Drive
Toronto, Ontario M9L 1T9 - Canada
Federal Corporation
Incorporated on 03-18-1996
ID# 3239748
Management:
Dr. Jeremy B. DESAI is the President and CEO since August 2014.
He replaced Jack KAY.
He served as the Chief Operating Officer of Apotex Inc. since January
2011 and served as its Executive Vice President of Research & Development
and Global Head of R&D since April 2006. He has 30 years of experience
working for both branded and generic pharmaceutical companies. Dr. Desai served
as Senior Vice President of Research and Development at Apotex since joining it
in January 2003 and Vice President of Research & Development for IVAX
Pharmaceuticals U.K. since June 2001.
His background provides an in-depth understanding of pharmaceutical
products as well as knowledge of international markets. He has been a
Non-Independent Director of Cangene Corp. since December 6, 2006.
Dr. Desai holds a Degree in Pharmacy in 1981, a Ph.D. in Pharmacy in
1985 and an M.B.A. in 1993 from the Open University Business School.
Bernard Charles SHERMAN is the Founder, Chairman and Director
Dr. Bernard Charles Sherman founded Apotex Holdings Inc. in 1974 and
serves as its President. Dr. Sherman founded Apotex Inc. in 1974 and serves as
its Chairman and served as its Chief Executive Officer. He serves as the
Chairman of Shermco Inc. He served as Chairman of Cangene Corp., until December
2006. He served as a Director of Citadel Gold Mines Inc. from February 4, 1988
to January 31, 2007. He serves on the Board of Governors for Mount Sinai
Hospital and the Baycrest Centre for Geriatric Care in Toronto. He is also a
member of the board of directors of Barr (FN1).
He served as Director of Cangene Corp., from November 1995 to December
2006.
Dr. Sherman graduated with a Ph.D. from Massachusetts Institute of
Technology in 1967.
As far as we know, they are involved in other corporations, including:
APOTEX HOLDINGS, INC.
150 Signet Drive, Toronto, Ontario M9L 1T9 – Canada
Federal Corporation
Incorporated on 01-07-2000
ID# 3782565
APOTEX PHARMACEUTICAL
HOLDINGS INC.
150 Signet Drive, Toronto,
Ontario M9L 1T9 - Canada
Federal Corporation
Incorporated on 03-18-1996
ID# 3239748
and others.
In Canada, privately held
corporations are not required to publish any financials.
On a direct call, a
financial assistant controlled the present report but deferred any financials.
Outside sources (bank) gave
estimate sales for year 2014 in the range of
CAD 450,000,000= verse CAD
400,000,000=
The business is profitable.
Banks: Royal Bank of Canada
Bank of Canada
Legal filings
& complaints:
As of today date, there are several legal filing pending with various
Courts, involving the Company as plaintiff or defendant.
Secured debts
summary:
Several