Ind-Swift Laboratories Ltd

IndSwift Laboratories Ltd is a part of the Indswift Group and is based at Chandigarh, India. The company manufactures and sells active pharmaceutical ingredients (API). Their product pipeline consists of 25 products, which includes drugs, which include Clarithromycin (Macrolide antibiotic), Atorvastatin (anticholestrol), Fexofenadine (antihistamine), Clopidogrel (anticholestrol), Nitazoxanide (antidiarrheal), Pioglitazone (antidiabetic), Letrozole and Anastrozole (anticancer), Venlafaxine (antidepressants) and Quetipine and Aripirazole (antipsychotic). The company has one subsidiary namely, IndSwift Laboratories Inc in USA.IndSwift Laboratories Ltd was incorporated on January 4, 1995 as a joint venture between IndSwift Ltd and Punjab State Industrial Development Corporation. Later, IndSwift purchased Punjab State Industrial Development Corporation equity to emerge as a single largest shareholder in the company. The company commenced their production in the year 1997. Over a short period, the company has emerged as a respectable and dependable supplier of BulkActives in more than 40 countries.In the year 1997, the company went public and concentrated on the manufacture of Active Pharmaceutical Ingredients (API). In the year 199899, they launched two molecules, Clarithromycin and Roxithromycin. Their inhouse RD developed Clarithromycin Granules for the first time in India.In the year 2000, the company developed a new drug namely, Astrovastatin. In addition, they entered into an agreement with eight international pharmaceutical companies to source their requirements for Clarithromycin Fexofenadine Roxithromycin and Candesartan from the company.During the year 200304, the company increased the production capacity of bulk drugs/ intermediates from 81.18 TPA to 120 TPA. In addition, they commissioned the granulation facility as per CGMP standards. They launched four new products namely, Acamprosate (alcohol abstinence), Ezetimibe (antihyperlipidemic), Anastrazole (oncology) and Nitazoxanide (antidiarroheal). In January 2, 2004, the company incorporated a wholly owned subsidiary, namely IndSwift Laboratories Inc in USA to strengthen the companys presence in contract research and manufacturing services. In June 2004, the subsidiary company commenced their operations.During the year 200405, the company expanded the production capacity of bulk drugs/ intermediates from 120 TPA to 150 TPA. They commissioned waste heat recovery unit to reduce energy costs. They opened and office in China to facilitate the import of raw materials. The company introduced five new products in the market. During the year 200506, the company completed and commissioned their new plant at Samba in Jammu Kashmir to manufacture products for the domestic markets. Also, they set up a new state of the art Research Development center at Mohali, Punjab with an investment of USD 5 million. They increased the production capacity of bulk drugs/ intermediates by 87.03 TPA to 237.03 TPA.During the year, the company launched new products namely, Letrozole, Anastrozole (AntiCancer) Venlafaxine (AntiDepressants) Lavofloxacin (AntiBiotic) Quetipine Aripirazole (AntiPshychotic) in the market. They entered into a joint venture with Farayand Chemi Hakim Co, a private joint stock company registered under the law of Iran to focus on the marketing of the products in Middle East Iran. During the year 200607, the company expanded the production capacity of bulk drugs/ intermediates by 18.85 TPA to 255.88 TPA. In April 2006, the company inaugurated their new manufacturing facilities at Baddi in Himachal Pradesh to manufacture tablets, injectibles and liquids.During the year 200708, the company entered into the field of Phytochemicals, where, the company has put to operation a new manufacturing facility to manufacture mintbased products. They increased the production capacity of bulk drugs/ intermediates by 162.30 TPA to 418.18 TPA.During the year 2010, Company incorporated two new subsidiaries one in Dubai under the name of M/s IndSwift Middle East FZE,UAE and Second in Singapore under the name of M/s IndSwift Laboratories Pte Ltd., Singapore. The company launched new drugs likeDutasteride Cinacalcet, Duloxetine, Mecloxamine citrate, Atomoxetine, Exemestane, Ezetimibe, Pregabalin, Ranolazine, Telmisartan Posaconazole in 2010. It commercialized the production of Mecloxamine citrate, Bexarotene and Dutasteride, developed new processes for key intermediates of Sunitinib and Mitiglinide calcium and robust and reproducible process developed for polymorph FORM I of Rifaximin in year 2011. During the financial year 2013, the Company had transferred its investment in Iran Joint Venture to its Dubai Subsidiary, which already completed the process of disinvestment.During the year 201314, 16,92,725 equity shares were allotted on 3rd February, 2014 on preferential basis to promoters and promoter group company at a price of Rs.55/ per share (including premium of Rs.45/ per share) and consequent to the allotment the paid up share capital of the Company stand at Rs.40,96,31,950/ consisting 4,09,63,195/ equity shares of Rs.10/ each.During 201516, 3 new products Nateglinide, Ezitimibe and Rosuvastatin were launched commercially and Lisdexamphentamine, a new product was supplied in the biobatch quantities.During 201920, Mohali Green Environment Private Limited (MGEPL) ceased to be an Associate Company as Companys investment in MGEPL fell from 25.30% to 19.95%. as on 31st March, 2020.During 202021, Fortune (India) Constructions Limited (100%) and Halcyon Life Sciences Pvt. Ltd. (98.19%) became the wholly ownedsubsidiary of the company consequent to the Company acquiring/ subscribing to the total equity capital of these Companies. Fortune(India) Constructions Limited ceased to be the associate as it became the wholly owned subsidiary of the company.As on 31.03.2021, Company had 5 Subsidiaries i.e. IndSwift Laboratories Inc. (US Subsidiary), IndSwift Middle East FZLLC (Dubai Subsidiary), Meteoric Life Sciences PTE Ltd. (Singapore Subsidiary), Fortune (India) Constructions Limited (Indian Subsidiary) and Halcyon Life Sciences Pvt Ltd (Indian Subsidiary).During the Year 202122, M/s Meteoric Life Sciences Pte Ltd ceased to be a subsidiary of the Company with effect from August 10, 2021,consequent to its striking off and M/s IndSwift Middle East FZE ceased to be subsidiary of the Company with effect from May 27, 2021 consequent to its sale to M/s. Soft Air General Trading LLC, UAE. The Company has entered two Joint Ventures to enter into explore new avenues available in the pharma fields. One joint venture is with M/s Wellgen Medicare LLP a Delhi based pharma trading concern and Mr. Anshul Jain on a 50:50 partnership basis a LLP named Indis Healthcare LLP. The Company has also entered into an another joint venture with Mr. Ramesh Mehta as the partner on a 75:25 partnership basis by incorporating a private Company named MJM Remedies Private Limited.As on 31.03.2022, Company had 3 Subsidiaries i.e. IndSwift Laboratories Inc. (US Subsidiary), Fortune (India) Constructions Limited (Indian Subsidiary) and Halcyon Life Sciences Pvt Ltd (Indian Subsidiary).