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Report No. : |
312057 |
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Report Date : |
16.03.2015 |
IDENTIFICATION DETAILS
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Name : |
APOTEX PHARMACEUTICALS HOLDINGS 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 : |
18.03.1996 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Not Available [We tried to confirm / obtain the detailed activity but the same is
not available from any sources] |
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No. of Employee : |
2,800 (for the group in Canada) |
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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 : |
Satisfactory |
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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 – 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 financial sector's tradition of conservative lending practices and strong capitalization. Canada achieved marginal growth in 2010-13 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 |
APOTEX
PHARMACEUTICALS HOLDINGS INC.
150 Signet Drive, Toronto, Ontario M9L 1T9 - Canada
Telephone: +1
416-749-9300
Fax: +1 416-401-3849
Website: www.apotex.com
Corporate ID#: 3239748
State: Federal
Judicial form: Corporation – Profit
Date incorporated: 03-18-1996
Stock: -
Value: -
Name of manager: Jeremy B. DESAI
IST
Business:
Holding Company
Staff: 2,800 (for the group in
Canada)
Operations & branches:
At the headquarters, we find a large factory, warehouse and office.
This is a private Company.
Dr. Jeremy B. DESAI is the President since August 2014.
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 the group 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 1, 1995 to December 2006.
Dr. Sherman graduated with a Ph.D. from Massachusetts Institute of Technology
in 1967.
R. Craig BAXTER is Director.
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 INC.
150 Signet Drive, Toronto, Ontario M9L 1T9 - Canada
Incorporated in Ontario on 04-01-2004
ID# 001612278
and others.
In Canada, privately held corporations are not required to publish any
financials.
On a direct call, nobody was available to answer any questions.
We sent a fax but no answer received.
Outside sources (bank) gave estimate consolidate sales for year 2013 in
the range of 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 group as plaintiff or defendant.
Secured debts summary: None
Haut du formulaire
No trade references available.
No domestic credit history.
Other comments:
The group maintains a strong business.
The bank confirmed a regular account.
The Company is in good standing.
This means that all local and federal taxes were paid on due date.
Last report was filed on 06-26-2013.
Our opinion:
We suggest you to check the correct name of the importer.
Base on what we know about the group, 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.62.67 |
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1 |
Rs.93.16 |
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Euro |
1 |
Rs.66.42 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
ASH |
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.