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MIRA INFORM REPORT
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Report No. : |
508790 |
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Report Date : |
16.05.2018 |
IDENTIFICATION DETAILS
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Name : |
EMPRESA IMPORTADORA-EXPORTADORA FARMACUBA |
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Registered Office : |
Calle 70 No. 29B14 Entre 29B y 29C. Playa. La
Habana |
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Country : |
Cuba |
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Date of Incorporation : |
1984 |
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Legal Form : |
Sociedad Anonima |
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Line of Business : |
Subject is dedicated to the production and distribution of medicines. |
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No. of Employees : |
190 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous
Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Cuba |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
CUBA - ECONOMIC OVERVIEW
The government continues to balance the need for loosening its socialist
economic system against a desire for firm political control. In April 2011, the
government held the first Cuban Communist Party Congress in almost 13 years,
during which leaders approved a plan for wide-ranging economic changes. Since
then, the government has slowly and incrementally implemented limited economic
reforms, including allowing Cubans to buy electronic appliances and cell phones,
stay in hotels, and buy and sell used cars. The government has cut state sector
jobs as part of the reform process, and it has opened up some retail services
to "self-employment," leading to the rise of so-called
"cuentapropistas" or entrepreneurs. More than 500,000 Cuban workers
are currently registered as self-employed.
The Cuban regime has updated its economic model to include permitting
the private ownership and sale of real estate and new vehicles, allowing
private farmers to sell agricultural goods directly to hotels, allowing the
creation of non-agricultural cooperatives, adopting a new foreign investment
law, and launching a “Special Development Zone” around the Mariel port.
Since 2016, Cuba has attributed slowed economic growth in part to problems
with petroleum product deliveries from Venezuela. Since late 2000, Venezuela
provided petroleum products to Cuba on preferential terms, supplying at times
nearly 100,000 barrels per day. Cuba paid for the oil, in part, with the
services of Cuban personnel in Venezuela, including some 30,000 medical
professionals.
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Source
: CIA |
STATUTORY
INFORMATION
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Legal Name: |
EMPRESA IMPORTADORA-EXPORTADORA FARMACUBA |
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Trade Names: |
FARMACUBA S.A. |
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ID: |
NA |
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Date Created: |
1984 |
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Date Incorporated: |
2012 |
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Legal Address: |
Calle 70 No. 29B14 Entre 29B y 29C. Playa. La
Habana. Cuba. |
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Operative Address: |
Calle 70 No. 29B14 Entre 29B y 29C. Playa. La
Habana. Cuba. |
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Telephone: |
(+53) 7 212 5796 |
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Fax: |
(+53) 7 204 7258 |
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Legal Form: |
Sociedad Anonima |
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Email: |
direccion@farmacuba.cu |
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Registered in: |
CUBA |
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Website: |
www.farmacuba.cu |
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Contact: |
Ing. Manuel Ángel Landrián Setién - Director |
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Staff: |
190 |
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Activity: |
NAICS code 423450 - Medical, Dental, and Hospital Equipment and
Supplies Merchant Wholesalers |
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Banks: |
The company does not disclose its banking details. |
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History: |
As of November 27, 2012 the Group of the Biotechnology and Pharmaceutical
Industries, known by its acronym as BioCubaFarma essentially formed from the
integration of the entities belonging to the Scientific Pole and the Business
Group QUIMEFA is founded, which FARMACUBA formed partly as a company. |
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PRINCIPAL
ACTIVITY
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Farmacuba is dedicated to the production and distribution of
medicines. |
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Products/Services description: |
The company imports raw materials, packaging materials, medicines,
reagents, equipment and spare parts for the Cuban pharmaceutical industry and
Generic drugs for the National Health System. It exports Generic drugs,
manufactured by BioCubaFarma. |
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Brands: |
The company does not have any brands of its own. |
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Sales are: |
Wholesale |
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Clients: |
Laboratorios Delta S.A. Mangueras Especializadas SA Infra Sa de Cv Laboratorios Pisa S.A. De C.V. Mungen S.A. De C.V. Umedica Laboratories Pvt., Ltd. Ceass |
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Suppliers: |
Laboratorios Baxter S.A. Productores De Envases Farmaceuticos Sas C.I. Farmacapsulas S.A. Ompi N.A.S. De R.L. De C.V. Tecni Cam SA De Cv Sinergia Medica y Farmaceutica Sa de Cv Murli Krishna Exports Pvt. Ltd Empresa de Sueros y Productos Hemoderivados
Adalberto Pesant |
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Operations area: |
National and International |
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The company imports from |
COLOMBIA MEXICO INDIA |
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The company exports to |
COLOMBIA MEXICO INDIA BOLIVIA |
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The subject employs |
190 employees |
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Payments: |
No Complaints |
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LOCATION
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Headquarters : |
Calle 70 No. 29B14 Entre 29B y 29C. Playa. La
Habana. Cuba. |
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Comments on Address: |
- |
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Branches: |
No other branches were found. |
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Related Companies: |
No related companies were found. |
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GROUP
STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the stock exchange: |
NO |
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Capital: |
NA |
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Shareholders: |
Since November 27, 2012, the company belongs to the Business Group BioCubaFarma,
which is part of the Council of Ministers of the Republic of Cuba. |
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Management: |
Ing. Manuel Ángel Landrián Setién - Director Fidel Montiel Curbelo – General Director Maulio Méndez Sao – Business Development |
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FINANCIAL
INFORMATION
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The company does not make its financial
statements public. Despite our long search, we were not able
to confirm financial figures for the subject. |
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LEGAL
FILINGS
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CASES |
No records found. |
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SUMMARY
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Founded in 2001, Farmacuba S.A. is an organization in the Medical,
Dental, and Hospital Equipment and Supplies Merchant Wholesalers Industry
headquartered in La Habana, Cuba. The company has 190 regular employees. It operates nationally and
internationally, mainly exporting to Mexico, Colombia, India and Bolivia. It
is ACTIVE in business with no negative records. |
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RISK
INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
No Complaints |
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CASH FLOW |
Normal |
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STATUS |
Active |
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INTERVIEW
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NAME |
- |
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POSITION |
- |
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COMMENTS |
We called number (+53) 7 212 5796 several times and received no
answer. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 67.52 |
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1 |
INR 91.49 |
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Euro |
1 |
INR 80.52 |
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CUP |
1 |
INR 67.32 |
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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NIY |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.