|
|
|
MIRA
INFORM REPORT
|
Report No. : |
511775 |
|
Report Date : |
30.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
CAMBER
PHARMACEUTICALS, INC. |
|
|
|
|
Registered Office : |
Corporation Trust Center 1209 Orange St Wilmington New Castle DE 19801 |
|
|
|
|
Country : |
United States |
|
|
|
|
Financials (as on) : |
2016 (Summarized) |
|
|
|
|
Date of Incorporation : |
22.02.2007 |
|
|
|
|
Legal Form : |
Corporation |
|
|
|
|
Line of Business : |
Subject manufactures
markets and/or distributes more than 70 drugs in the United States. |
|
|
|
|
No. of Employees : |
47 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
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 $59,500. 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 more than 50% 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, 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 former 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 FY 2018, the direct costs of the wars will have totaled more than $1.9 trillion, according to US Government figures.
In March 2010, former President OBAMA signed into law the Patient Protection and Affordable Care Act (ACA), 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 former 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%. The Fed ended its purchases during the summer of 2014, after the unemployment rate dropped to 6.2%, inflation stood at 1.7%, and public debt fell below 74% of GDP. 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 continued low growth, the Fed opted to raise rates several times since then, and in December 2017, the target rate stood at 1.5%.
In December 2017, Congress passed and President Donald TRUMP signed the Tax Cuts and Jobs Act, which, among its various provisions, reduces the corporate tax rate from 35% to 21%; lowers the individual tax rate for those with the highest incomes from 39.6% to 37%, and by lesser percentages for those at lower income levels; changes many deductions and credits used to calculate taxable income; and eliminates in 2019 the penalty imposed on taxpayers who do not obtain the minimum amount of health insurance required under the ACA. The new taxes took effect on 1 January 2018; the tax cut for corporations are permanent, but those for individuals are scheduled to expire after 2025. The Joint Committee on Taxation (JCT) under the Congressional Budget Office estimates that the new law will reduce tax revenues and increase the federal deficit by about $1.45 trillion over the 2018-2027 period. This amount would decline if economic growth were to exceed the JCT’s estimate.
|
Source
: CIA |
STATUTORY INFORMATION
|
Legal Name: |
CAMBER
PHARMACEUTICALS, INC. |
|
Trade Name: |
Camber
Pharmaceuticals / Camber |
|
ID |
4302863 |
|
Date Created: |
2007 |
|
Date Incorporated: |
2/22/2007 |
|
Legal Address: |
REGISTERED AGENT INFORMATION Name: THE CORPORATION TRUST COMPANY Address: CORPORATION TRUST CENTER 1209
ORANGE ST City: WILMINGTON County: New Castle State: DE Postal Code: 19801 |
|
Operative Address: |
1031 CENTENNIAL AVE PISCATAWAY, NJ,
08854-4125 United States |
|
Telephone: |
(732) 529-0430 Medical Information Phone: (866)
495-8330 |
|
Fax: |
(732) 529-0430 |
|
Legal Form: |
Corporation |
|
Email: |
druginfo@camberpharma.com |
|
Registered in: |
DELAWARE |
|
Website: |
www.camberpharma.com |
|
Contact: |
Konstantin Ostaficiuk, President |
|
Staff: |
47 employees |
|
Activity: |
Pharmaceutical
Manufacturing |
|
|
|
|
BANKS: |
|
|
|
The company does not make its
banking data public |
|
HISTORY: |
|
|
|
The company was founded in 2007 |
|
|
|
PRINCIPAL ACTIVITY |
|
|
Camber
Pharmaceuticals, Inc. manufactures, markets and/or distributes more than 70
drugs in the United States. |
|
|
Products/Services description: |
Products and
pipeline include: • Solid Orals • Semi-solids and
Soft Gels • Liquids:
Solutions and Suspensions • Specialty
Products • Injectables and
Inhalers |
|
Brands: |
CAMBER HETERO |
|
Sales are: |
Wholesale |
|
Clients: |
National companies, pharmacies and
private customers |
|
Suppliers: |
HETERO LABS LTD. INDIA |
|
Operations area: |
National |
|
The company imports from |
India |
|
The company exports to |
No export records |
|
The subject
employs |
47 employees |
|
Payments: |
Regular |
|
|
|
LOCATION |
|
|
Headquarters : |
1031 CENTENNIAL AVE PISCATAWAY, NJ, 08854-4125 United States |
|
Comments: |
NA |
|
Branches: |
The company does
not have branches |
|
Related Companies: |
NA |
|
|
|
GROUP STRUCTURE AND SUBSIDIARY COMPANIES |
|
|
Listed at the stock exchange: |
NO |
|
Capital: |
NA |
|
Shareholders: |
This is a private company. The company
does not disclose information on shareholders. The following information has
been obtained through private sources and could not be confirmed: The company is a subsidiary of HETERO
DRUGS LIMITED Hetero Drugs Limited, a pharmaceutical
company, develops, manufactures, and markets active pharmaceutical
ingredients (APIs), intermediate chemicals, and generic finished dosages for
the biopharmaceutical industry. It offers APIs, including cytotoxics to the
pharmaceutical companies that manufacture formulations and other products;
generic formulations; CPS; biologics; anti-retroviral drugs; and biosimilar drugs,
including monoclonal antibodies, as well as Adalimumab, an anti-inflammatory
biologic medication specific for human tumor necrosis factor. The company
also develops formulations, novel drug delivery systems, new chemical
entities, and more; and Tafero-EM, a generic fixed dosage combination of
Emtricitabiine (200 mg) and Tenofovir Alafenamide (25 mg). In addition, it
provides research and manufacturing services for various pharmaceutical
companies; and franchises its operations. It offers its products in various
therapeutic categories, such as HIV/AIDS, oncology, cardiovascular,
neurology, hepatitis, and more. The company exports its products to South
Asia, Middle East, Europe, America, and internationally. Hetero Drugs Limited
was founded in 1993 and is based in Hyderabad, India. It has marketing
offices in India, the United States, Russia, Spain, China, Thailand, the
United Arab Emirates, Egypt, Singapore, Colombia, Ukraine, Mexico, and South
Africa. ADDRESS: 7-2-A2 Hetero Corporate Industrial Estates Sanath Nagar Hyderabad, 500018 India FOUNDATION: Founded in 1993 TELEPHONE: 91 40 2370 4923 FAX: 91 40 2370 4926 WEBSITE: www.heterodrugs.com MAIN MANAGEMENT: Parthasaradhi Reddy Bandi, Founder,
Chairman and Director Bhaskar Reddy Chiluka, Whole Time Director Sambi Reddy Jonnala, Director of
Production and Whole Time Director |
|
Management: |
Konstantin Ostaficiuk, President Laura Ciardi, Director of Corporate
Accounts Kon Ostaficiuk, Vice President Of
Engineering Kirk Hessels, Director of Marketing Pravin Pillai, Director of Finance Laura Ricardo, Director of Corporate
Accounts Stu Messinger, Director National
Accounts Peter Romer, Director National Accounts Clay Smith, National Account Manager |
|
|
|
FINANCIAL INFORMATION |
|
|
The company does not make its financial
statements public. The following information has been provided by private
sources: |
|
|
USD 2016 |
|
|
Revenue: |
15,400,000 |
|
Cash Flow: |
Normal |
|
|
|
LEGAL FILINGS |
|
|
|
|
|
Patents: |
No records found |
|
|
|
|
Trademarks: |
CAMBER PHARMACEUTICALS, INC. - Trademark
Details Status: 700 - Registered Image for trademark with serial number
85493592 Serial Number85493592 Registration Number4386287 Word Mark CAMBER PHARMACEUTICALS, INC. Status700 - Registered Status Date2013-08-20 Filing Date2011-12-13 Registration Number4386287 Registration Date2013-08-20 Mark Drawing3000 - Illustration: Drawing
or design which also includes word(s)/ letter(s)/number(s) Typeset Design Searches261709 - Curved line(s),
band(s) or bar(s). Published for Opposition Date2013-06-04 Attorney Name Michelle P. Ciotola Law Office Assigned Location CodeL60 Employee Name HETZEL, DANNEAN CAMBER - Trademark Details Status: 700 - Registered Image for trademark with serial number
85493561 Serial Number85493561 Registration Number4584853 Word Mark CAMBER Status700 - Registered Status Date2014-08-12 Filing Date2011-12-13 Registration Number4584853 Registration Date2014-08-12 Mark Drawing3000 - Illustration: Drawing
or design which also includes word(s)/ letter(s)/number(s) Typeset Design Searches261709 - Curved line(s),
band(s) or bar(s). Published for Opposition Date2012-12-04 Attorney Name Michelle P. Ciotola Law Office Assigned Location CodeL60 Employee Name HETZEL, DANNEAN |
|
|
|
|
Lawsuits: |
Roxane
Laboratories, Inc. v. Camber Pharmaceuticals, Inc. et al, No. 2:2014cv04042 -
Document 289 (D.N.J. 2017) Court Description:
OPINION & ORDER granting Defendant's 234 Motion to declare this an
exceptional case, pursuant to 35 U.S.C. § 285. The Court reserves decision on
the amount of fees and costs to be awarded. Roxane shall file an opposition
brief addressing the amount of the award by two weeks of the date of entry of
this Opinion, and Defendants shall submit a reply brief two weeks after that.
Signed by Judge Stanley R. Chesler on 4/12/17. (cm, ) AstraZeneca AB et al v. Camber
Pharmaceuticals, Inc. Plaintiff:
AstraZeneca AB, AstraZeneca LP and AstraZeneca Pharmaceuticals LP Defendant: Camber
Pharmaceuticals, Inc. Counter_claimant:
Camber Pharmaceuticals, Inc. Counter_defendant:
AstraZeneca AB, AstraZeneca LP and AstraZeneca Pharmaceuticals LP Case Number:
1:2015cv00927 Filed: October 13,
2015 Court: Delaware
District Court Office: Wilmington
Office County: New Castle Presiding Judge:
Sue L. Robinson Nature of Suit:
Trademark Cause of Action:
15:1114 Jury Demanded By:
Plaintiff |
|
|
|
|
UCC: |
No records found |
|
|
|
|
OFAC Sanctions List Search: |
The company is not
listed in the OFAC list. |
|
|
|
SUMMARY |
|
|
Founded in 2007, Camber Pharmaceuticals,
Inc. manufactures, markets and/or distributes more than 70 drugs in the
United States. The company has 47 full-time employees
and generates an estimated USD 15.4 million in annual revenue. The company imports from India,
operating within national markets. The company is a subsidiary of HETERO
DRUGS LIMITED. This has been an ACTIVE company incorporated
in DELAWARE in 2007. |
|
RISK INFORMATION |
|
|
|
|
|
DEBTS |
Controlled |
|
PAYMENTS |
Regular |
|
CASH FLOW |
Normal |
|
STATUS |
ACTIVE |
|
|
|
INTERVIEW |
|
|
NAME |
NA |
|
POSITION |
NA |
|
COMMENTS |
Despite we called
the company several times, the person allowed to provide information about
the company was not available to do so. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.82 |
|
|
1 |
INR 90.17 |
|
Euro |
1 |
INR 78.70 |
|
US Dollar |
1 |
INR 67.74 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
TRU |
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.