MIRA INFORM REPORT

Report No. :	501154
Report Date :	02.04.2018

IDENTIFICATION DETAILS

Name :	SCIEGEN PHARMACEUTICALS, INC.
Registered Office :	89 Arkay Drive, Hauppauge, New York, 11788
Country :	United States
Financials (as on) :	2016 [Summarized]
Date of Incorporation :	28.09.2009
Legal Form :	Domestic Business Corporation
Line of Business :	Subject is a pharmaceutical company. The company researches, manufactures, markets, and distributes generic pharmaceutical products.
No. of Employees :	150

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Good
Payment Behaviour :	Regular
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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
United States	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

UNITED STATES - ECONOMIC OVERVIEW

The US has the most technologically powerful economy in the world, with a per capita GDP of $57,300. US firms are at or near the forefront in technological advances, especially in computers, pharmaceuticals, and medical, aerospace, and military equipment; however, their advantage has narrowed since the end of World War II. Based on a comparison of GDP measured at purchasing power parity conversion rates, the US economy in 2014, having stood as the largest in the world for more than a century, slipped into second place behind China, which has more than tripled the US growth rate for each year of the past four decades.

In the US, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, businesses face higher barriers to enter their rivals' home markets than foreign firms face entering US markets.

Long-term problems for the US include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure, rapidly rising medical and pension costs of an aging population, energy shortages, and sizable current account and budget deficits.

The onrush of technology has been a driving factor in the gradual development of a "two-tier" labor market in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. But the globalization of trade, and especially the rise of low-wage producers such as China, has put additional downward pressure on wages and upward pressure on the return to capital. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income.

Imported oil accounts for nearly 55% of US consumption and oil has a major impact on the overall health of the economy. Crude oil prices doubled between 2001 and 2006, the year home prices peaked; higher gasoline prices ate into consumers' budgets and many individuals fell behind in their mortgage payments. Oil prices climbed another 50% between 2006 and 2008, and bank foreclosures more than doubled in the same period. Besides dampening the housing market, soaring oil prices caused a drop in the value of the dollar and a deterioration in the US merchandise trade deficit, which peaked at $840 billion in 2008. Because the US economy is energy-intensive, falling oil prices since 2013 have alleviated many of the problems the earlier increases had created.

The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the US into a recession by mid-2008. GDP contracted until the third quarter of 2009, making this the deepest and longest downturn since the Great Depression. To help stabilize financial markets, the US Congress established a $700 billion Troubled Asset Relief Program (TARP) in October 2008. The government used some of these funds to purchase equity in US banks and industrial corporations, much of which had been returned to the government by early 2011. In January 2009, Congress passed and President Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus to be used over 10 years - two-thirds on additional spending and one-third on tax cuts - to create jobs and to help the economy recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP. In 2012, the Federal Government reduced the growth of spending and the deficit shrank to 7.6% of GDP. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries.

Wars in Iraq and Afghanistan required major shifts in national resources from civilian to military purposes and contributed to the growth of the budget deficit and public debt. Through 2014, the direct costs of the wars totaled more than $1.5 trillion, according to US Government figures.

In March 2010, President OBAMA signed into law the Patient Protection and Affordable Care Act, a health insurance reform that was designed to extend coverage to an additional 32 million Americans by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on healthcare - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010.

In July 2010, the president signed the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed to promote financial stability by protecting consumers from financial abuses, ending taxpayer bailouts of financial firms, dealing with troubled banks that are "too big to fail," and improving accountability and transparency in the financial system - in particular, by requiring certain financial derivatives to be traded in markets that are subject to government regulation and oversight.

In December 2012, the Federal Reserve Board (Fed) announced plans to purchase $85 billion per month of mortgage-backed and Treasury securities in an effort to hold down long-term interest rates, and to keep short-term rates near zero until unemployment dropped below 6.5% or inflation rose above 2.5%. In late 2013, the Fed announced that it would begin scaling back long-term bond purchases to $75 billion per month in January 2014 and further reduce them as conditions warranted; the Fed ended the purchases during the summer of 2014. In 2014, the unemployment rate dropped to 6.2%, and continued to fall to 5.5% by mid-2015, the lowest rate of joblessness since before the global recession began; inflation stood at 1.7%, and public debt as a share of GDP continued to decline, following several years of increases. In December 2015, the Fed raised its target for the benchmark federal funds rate by 0.25%, the first increase since the recession began. With US GDP growth below 2%, the Fed opted to raise rates three times since then, and in mid-June 2017, the range for the target rate stood at 1% to 1.25%.

Source : CIA

STATUTORY INFORMATION
Legal Name:	SCIEGEN PHARMACEUTICALS, INC.
Trade Name:	Sciegen Pharmaceuticals, Inc.
ID:	3860966
Date Created:	2009
Date Incorporated:	SEPTEMBER 28, 2009
Legal Address:	89 Arkay Drive Hauppauge, New York, 11788
Operative Address:	89 Arkay Drive Hauppauge, NY 11788
Telephone:	631-434-2723
Fax:	631-434-2723
Legal Form:	Domestic Business Corporation
Email:	info@sciegenpharm.com
Registered in:	NEW YORK, USA
Website:	www.sciegenpharm.com
Contact:	PAILLA M REDDY, Chief Executive Officer
Staff:	150 Employees
Activity:	NAICS 1: Pharmaceutical Preparation Manufacturing SIC 1: Pharmaceutical Preparations
BANKS
	*WELLS FARGO BANK, N.A. 300 TRI-STATE INTERNATIONAL STE 400, LINCOLNSHIRE, IL 60069, USA *CITIBANK, N.A. 730 VETERANS MEMORIAL HIGHWAY, HAUPPAUGE, NY 11788, USA
HISTORY
	The company was founded in 2009 and is based in New Jersey, USA.
PRINCIPAL ACTIVITY
	Sciegen Pharmaceuticals Inc., is a pharmaceutical company. The Company researches, manufactures, markets, and distributes generic pharmaceutical products.
Products/Services description:	Hydrochlorothiazide Tablets, USP 25 & 50 mg Nevirapine Tablets, USP 200 mg Carisoprodol Tablets, USP 350mg Levocetirizine Dihydrochloride Tablets, 5 mg Metformin Hydrochloride Tablets, USP 500 mg, 850 mg and 1000 mg Clopidogrel Tablets USP 75 mg and 300 mg Pramipexole Dihydrochloride Tablets, 0.125, 0.25, 0.5, 0.75, 1.0 and 1.5mg Donepezil Hydrochloride Tablets, USP 5mg and 10mg Fluoxetine Capsules USP, 10 mg, 20 mg and 40 mg Fexofenadine Hydrochloride Tablets, USP 60 mg and 180 mg Irbesartan Tablets, USP 75 mg, 150 mg and 300 mg Gabapentin Tablets, USP 600 mg and 800 mg Gabapentin Capsules, USP 100 mg, 300 mg and 400 mg Lamotrigine Orally Disintegrating Tablets, 25 mg, 50 mg, 100 mg and 200 mg Bupropion Hydrochloride Extended-release Tablets USP (SR), 100 mg, 150 mg, and 200 mg
Brands:	No brands registered
Sales are:	Wholesale
Clients:	NA
Suppliers:	DIVI'S LABORATORIES LTD. Wanbury Ltd. SEIDENADER MASCHINENBAU
Operations area:	National and International
The company imports from	India, Germany
The subject employs	150 Employees
Payments:	Regular
LOCATION
Headquarters :	20 Davids Dr, HAUPPAUGE, NEW YORK, 11788
Comments:	20 Davids Dr This business is located at 20 Davids Dr, a commercial address in Hauppauge, NY. The warehouse was last sold on August 30, 1977 for $550,000 USD. Estimated Value The warehouse has an estimated value of $27,342 USD, which is 37% lower than the $43,592 United States dollars average for warehouses in the area. When the building was last assessed in 2011, the assessment value was $26,000 USD.
Branches:	89 Arkay Dr, Hauppauge, NY 11788, USA
Main Competitors	A & Z Pharmaceutical Inc. Venus Pharmaceuticals International, Inc. The Organic Frog Inc Saptalis Pharmaceuticals, Llc Bactolac Pharmaceutical Inc.
Related Companies:	Subsidiary: ScieGen Pharmaceuticals India Pvt Ltd No.70 & 71, Ground floor, ALEAP Industrial Area Pragathi Nagar, Hyderabad 500090. Sister Company: Bactolac Pharmaceutical Inc. 7 Oser Avenue Hauppauge, NY 11788-3808 United States
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders:	This is a private company. We could not confirm major holders.
Management:	PAILLA M REDDY, Chief Executive Officer Renee Reynolds, Chief Financial Officer and Vice President P. Raghu Ram, Head of Quality Assurance and Regulatory Affairs Suresh Vujjini, Head of Quality Control PV Siva Reddy, Vice President and Director of Formulation
FINANCIAL INFORMATION
	The company does not make its financial statements public. The following information has been provided by private sources:
USD 2016-Estimated
Sales	15 000 000
Cash flow	Normal
LEGAL FILINGS
Lawsuits:	OTSUKA PHARMACEUTICAL CO., LTD. v. SCIEGEN PHARMACEUTICALS INC. et al Plaintiff: OTSUKA PHARMACEUTICAL CO., LTD. Defendant: SCIEGEN PHARMACEUTICALS INC. and BACTOLAC PHARMACEUTICAL, INC. Case Number: 1:2014cv08077 Filed: December 22, 2014 Court: New Jersey District Court Office: Camden Office County: Atlantic Presiding Judge: Jerome B. Simandle Referring Judge: Karen M. Williams Nature of Suit: Patent Cause of Action: 35:271 Jury Demanded By: None Cohen v. Bactolac Pharmaceutical, Inc. et al Filed: January 20, 2016 as 1:2016cv00131 Plaintiff: Barry A Cohen Defendant: Bactolac Pharmaceutical, Inc., Absolute Nutrition, LLC, Nutritional Sciences, LLC and others Cause Of Action: Diversity-Fraud Court: Sixth Circuit › Ohio › Ohio Northern District Court Type: Torts - Property › Other Fraud
UCC:	1. Debtor Names: SCIEGEN PHARMACEUTICALS, INC. 7 OSER AVENUE, HAUPPAUGE, NY 11788, USA Secured Party Names: CITIBANK, N.A. 6801 COLWELL, IRVING, TX 75039, USA 201410160581877 10/16/2014 10/16/2019 Financing Statement 2. Debtor Names: SCIEGEN PHARMACEUTICALS, INC. 89 ARKAY DR, HAUPPAGE, NY 11788, USA Secured Party Names: WELLS FARGO BANK, N.A. 300 TRI-STATE INTERNATIONAL STE 400, LINCOLNSHIRE, IL 60069, USA 201503055219261 03/05/2015 03/05/2020 Financing Statement 3. Debtor Names: SCIEGEN PHARMACEUTICALS, INC. 7 OSER AVENUE, HAUPPAUGE, NY 11788, USA Secured Party Names: CITIBANK, N.A. 730 VETERANS MEMORIAL HIGHWAY, HAUPPAUGE, NY 11788, USA 201512040626468 12/04/2015 12/04/2020 Financing Statement 4. Debtor Names: SCIEGEN PHARMACEUTICALS, INC. 7 OSER AVENUE, HAUPPAUGE, NY 11788, USA Secured Party Names: CITIBANK, N.A. 730 VETERANS MEMORIAL HIGHWAY, HAUPPAUGE, NY 11788, USA 201708310430908 08/31/2017 08/31/2022 Financing Statement 5. Debtor Names: SCIEGEN PHARMACEUTICALS, INC. 7 OSER AVENUE, HAUPPAUGE, NY 11788, USA Secured Party Names: CITIBANK, N.A. 730 VETERANS MEMORIAL HIGHWAY, HAUPPAUGE, NY 11788, USA 201708310430857 08/31/2017 08/31/2022 Financing Statement
OFAC Sanctions List Search:	The company is not listed in the OFAC list.
SUMMARY
	Sciegen Pharmaceuticals, Inc. is a mid-sized organization in the pharmaceutical preparation company’s industry located in Hauppauge, NY. It opened its doors in 2009 and now has $15 million in yearly revenue and 150 employees. The company mainly imports from India and Germany; but does not show any export. It is ACTIVE in NEW YORK, USA; with no negative records.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	Regular
CASH FLOW	Normal
STATUS	ACTIVE
INTERVIEW
NAME	NA
POSITION	Assistant
COMMENTS	He confirmed legal name, legal address, website, email, that they sale wholesale and that Pailla reddy is the Executive Officer.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.04
UK Pound	1	INR 92.28
Euro	1	INR 80.62
US Dollar	1	INR 65.04

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	PRA
Report Prepared by :	TPT

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.