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Report No. : |
344250 |
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Report Date : |
15.10.2015 |
IDENTIFICATION DETAILS
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Name : |
LABORATORIO VARIFARMA SA |
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Registered Office : |
Uruguay 3698 - Esquina : E. De las Carreras Beccar 1643-Buenos Aires |
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Country : |
Argentina |
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Date of Incorporation : |
24.03.1995 |
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Legal Form : |
Sociedad Anónima |
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Line of Business : |
Pharmaceutical Manufacturing Industry |
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No. of Employees : |
151 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Argentina |
C1 |
|
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
ARGENTINA - ECONOMIC OVERVIEW
Argentina
benefits from rich natural resources, a highly literate population, an
export-oriented agricultural sector, and a diversified industrial base. Although
one of the world's wealthiest countries 100 years ago, Argentina suffered
during most of the 20th century from recurring economic crises, persistent
fiscal and current account deficits, high inflation, mounting external debt,
and capital flight.
A severe
depression, growing public and external indebtedness, and an unprecedented bank
run culminated in 2001 in the most serious economic, social, and political
crisis in the country's turbulent history. Interim President Adolfo RODRIGUEZ
SAA declared a default - at the time the largest ever - on the government's
foreign debt in December of that year, and abruptly resigned only a few days
after taking office. His successor, Eduardo DUHALDE, announced an end to the
peso's decade-long 1-to-1 peg to the US dollar in early 2002. The economy
bottomed out that year, with real GDP 18% smaller than in 1998 and almost 60%
of Argentines under the poverty line. Real GDP rebounded to grow by an average
8.5% annually over the subsequent six years, taking advantage of previously
idled industrial capacity and labor, an audacious debt restructuring and
reduced debt burden, excellent international financial conditions, and
expansionary monetary and fiscal policies. Inflation also increased, however,
during the administration of President Nestor KIRCHNER, which responded with
price restraints on businesses, as well as export taxes and restraints, and
beginning in 2007, with understating inflation data.
Cristina
FERNANDEZ DE KIRCHNER succeeded her husband as President in late 2007, and the
rapid economic growth of previous years began to slow sharply the following
year as government policies held back exports and the world economy fell into
recession. The economy in 2010 rebounded strongly from the 2009 recession, but
has slowed since late 2011 even as the government continued to rely on
expansionary fiscal and monetary policies, which have kept inflation in the
double digits.
The
government expanded state intervention in the economy throughout 2012. In May
2012 the Congress approved the nationalization of the oil company YPF from
Spain's Repsol. The government expanded formal and informal measures to
restrict imports during the year, including a requirement for pre-registration
and pre-approval of all imports. In July 2012 the government also further
tightened currency controls in an effort to bolster foreign reserves and stem
capital flight. In October 2013, the government settled long-standing
international arbitral disputes dating back to before and following the 2001
Argentine financial crisis. During 2014, the government continued with
expansionary fiscal and monetary policies and foreign exchange and imports
controls. Between 2011 and 2013, Central Bank foreign reserves had dropped
$21.3 billion from a high of $52.7 billion. In July 2014, Argentina and China
agreed on an $11 billion currency swap; the Argentine Central Bank has received
the equivalent of $3.2 billion in Chinese yuan, which it counts as
international reserves.
In 2014,
the government also took some measures to mend ties with the international
financial community, including engaging with the IMF to improve its economic
data reporting, reaching a compensation agreement with Repsol for the
expropriation of YPF, and agreeing to pay $9.7 billion in arrears to the Paris
Club over five years, including $606 million owed to the United States. In July
2014, Argentina made its first payment to Paris Club creditors since the
country’s 2001 financial crisis. At the same time, the Argentine government in
July 2014 entered a technical default on its external debt after it failed to
reach an agreement with holdout creditors in the US. The government’s delay in
reaching a settlement and the continuation of interventionist and populist
policies are contributing to high inflation and a prolonged recession,
according to private analysts.
|
Source
: CIA |
|
Legal Name: |
LABORATORIO VARIFARMA SA |
|
Trade Name: |
LABORATORIO VARIFARMA |
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CUIT: |
30-68266770-9 |
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Date Created: |
1995 |
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Date Incorporated: |
24/03/1995 |
|
Legal Address: |
URUGUAY 3698 - ESQUINA : E.
DE LAS CARRERAS |
|
Operative Address: |
Montevideo 418, 11, Capital
Federal (1019), Capital Federal, Argentina |
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Telephone: |
54 (11) 4723 2830 / 2831 |
|
Fax: |
54 (11) 4723 2830 |
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Legal Form: |
Sociedad Anónima |
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Email: |
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Registered in: |
AGENCIA NRO 16 |
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Website: |
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Contact: |
President: Aldo Marcelo
Italo Conti |
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Staff: |
151 |
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Activity: |
Pharmaceutical Manufacturing
Industry |
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According to the classification
of banking relations of Argentina, the company operates with level: 1. |
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There are no rejected checks |
History
|
|
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LABORATORIO VARIFARMA S.A.
began operations in March 1995 with the objective of providing the
pharmaceutical market with products of renowned therapeutic action. |
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This is a laboratoty involved
in drug products aimed at ONCOLOGY, ONCOHEMATOLOGY and TRANSPLANTATION areas. |
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Products/Services description:
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||
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Brands: |
12-TAX AZACID CPT 11
EXEMES-T FASTRADIS FOSFOFARMA HEMORAY LIVOCLIM LIVODIU LIVOMARIN LIVOPROGEST LIVOTOTAL
LIVOTRICOM MAXIMITON MAXIVUDINA MESINIB NUPAVIN VARICOAT VARIDIPINA VARIDOXO
VARIDRONICO VARIFARMA VARIFOS VARIGEL VARIGESTROL VARIKINASA VARILENDRONE
VARIMESNA VARINELBINA VARINIOX VARIOXALI VARIPAC VARIRED VARITAXO VARIVISC
VARIXANTRONA VARIXINOL VARIZOLOMIDA |
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Sales are: |
Wholesale |
|
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Clients: |
GADORPHARMA SAC |
|
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Suppliers: |
LABORATORIO PABLO CASSARÁ
S.R.L. |
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Operations area: |
National and International |
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The company imports from |
India, Switzerland |
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The company exports to |
Bolivia |
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The subject employs |
151 employees |
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Payments: |
Regular-made on a 45 day
basis |
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LOCATION
|
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Headquarters : |
Uruguay 3698 Beccar, Buenos
Aires 1643 Argentina |
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Branches: |
E. de las Carreras 2469 |
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Related Companies: |
There are no related
companies |
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GROUP STRUCTURE AND SUBSIDIARY COMPANIES
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||
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Listed at the stock
exchange: |
NO |
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Capital: |
$ 3.118.050 |
|
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Shareholders: |
This is a private company.
Major holder are: |
|
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Management: |
President: Aldo Marcelo
Italo Conti |
|
|
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This is a private company
which does not make its financials public. |
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|
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USD 2014 |
|
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Sales |
41 104 000 |
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Net Income |
400 000 |
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Total Equity |
7 027 400 |
|
|
|
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Exports FOB DOLLAR |
|
|
2014 |
1.548.357 |
|
2013 |
1.061.568 |
|
2012 |
1.242.579 |
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2011 |
872.905 |
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There are no legal for the
subject |
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SUMMARY
|
|
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This is a laboratoty
involved in drug products aimed at ONCOLOGY, ONCOHEMATOLOGY and
TRANSPLANTATION areas. The company has 20 years of
experience in the market with a large sized structure operating 2 plants. It works mainly for the
national market; however, it is involved in export trades to Bolivia and
Peru. The company's profitability
is positive without negative. |
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RISK INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
Regular |
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CASH FLOW |
Normal |
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STATUS |
Active |
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|
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INTERVIEW
|
|
|
NAME |
Mario |
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POSITION |
Administrative |
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COMMENTS |
He confirmed managers,
brands, imports, activity and CUIT. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.11 |
|
UK Pound |
1 |
Rs.99.50 |
|
Euro |
1 |
Rs.74.24 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TRU |
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 |
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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 |
|
|
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 |
|
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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 |
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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.