Indoco Remedies Ltd

Indoco Remedies Limited, incorporated as a Public Limited Company in August 23, 1947 is a Mumbaibased pharmaceutical company that focuses on formulations, with some presence in contract manufacturing and research. The Company headquartered in Mumbai, is a fully integrated, researchoriented pharma Company with presence in 55 countries. The Company is engaged in the manufacturing and marketing of pharmaceutical Formulations (Finished Dosage Forms) and Active Pharmaceutical Ingredients (APIs). Indoco, a USD 166 million Company, employs over 6000 people including more than 300 skilled scientists. The Company has 9 manufacturing facilities, 6 of which are for FDFs and 3 for APIs, supported by a stateoftheart RD Centre and a CRO facility.Currently, Indoco has a presence in therapeutic segments including antiinfective, anticold preparation, opthalmic, antispasmodic, stomatology, antiinflammatory and antifungal. As per AC Nielsen ORGMARG market survey (August 2004) of doctors, Indoco ranked first in the stomatology, ninth in the opthalmic and twelve in the pediatric segments in terms of prescription generation in the domestic market. In the overall pharma industry, Indoco is ranked 34th as per AC Nielsen ORGMARG Retail Audit, but ranked 23rd in terms of prescription generation, indicating the strength of its marketing network. Further, the company last year launched a new super specialty division, with focus on diabetic and cardiovascular segments. Its entry into the lifestyle segment with a strong presence in the prescription segment would augur well for the higher thanaverage industry growth. Currently, Indoco has four manufacturing facilities. Two are located in Mumbai and two in Goa, and an RD centre in Mumbai. The solid dosage facility in Goa has been accredited by UKMedicines and Healthcare Products Regulatory Agency (MHRA), and the sterile plant of Goa has been designed as per US Food and Drug Administration (FDA) norms. On the selling front, it has a marketing network of 1,248 medical representatives.In July 2014, the Company purchased the remaining shares of its subsidiary, Xtend Industrial Designers and Engineers Private Limited to make it a 100% subsidiary of the Company.In April 2015, the Company acquired from Piramal Enterprise Limited, their Clinical Research Division, located in Hyderabad. The division is equipped with a 98bed facility, including a fourbed ICU, stateoftheart analytical lab and capabilities of eCTD submission. It also has GCP certification from UKMHRA and also has regulatory approvals from several bodies including USFDA. The acquisition would reduce the Companys dependability to outsource bioequivalence studies. This will not only reduce cost but also ensure timebound outcome of studies and add pace to the Companys existing RD efforts.In December, 2015, the Company incorporated Indoco Remedies Singapore Pte Limited, a 100% subsidiary. The subsidiary will be used for the expansion of the companys ambitious plans to extend its activities in the European and US markets. The company has the following 3 subsidiary companies as on 31 March 2016.i. Xtend Industrial Designers and Engineers Private Limited,ii. Indoco Pharmchem Limited,iii. Indoco Remedies Singapore Pte. Ltd.The cash outflow on account of Capital Expenditure (CAPEX) during FY2016 was Rs 97.7 crore, as compared to Rs 88.7 crore in the last year. The cash outflow on account of Capital Expenditure (CAPEX) during FY2017 was Rs 130.60 crore, as compared to Rs 97.70 crore in the last year. As on 31 March 2018,the company has 2 subsidiary companies under its fold. As there was no business activity, the Company during the year has applied to the Registrar of Companies for striking off the names of following Companies,i. Indoco Pharmchem Limited 100% subsidiary,ii. Indoco Analytical Solutions LLP Associate LLP.The cash outflow on account of Capital Expenditure (CAPEX) during FY2018 was Rs 139.4 crore, as compared to Rs 189.6 crore in the last year. During the year 201718, the Company (FD) was granted two patents by the Indian Patent Office and one by United States Patents Office for formulation of Olopatadine, Gliclazide, and Brinzolamide respectively. The Company was also granted three patents by Indian Patents Office for manufacturing processes of three APIs, viz., Febuxostat, Rufinamide and Lacosamide.Indocos RD efforts received due recognition with the Best Process Patent Award for the year 20162017 forfive Indian patents granted related to Processforthe preparation of Tapentadol, Process for the preparation of Aminoindane compound, Process for preparation of Pyrazole derivatives, Preparation of phenylacetic acid derivative and Preparation of Substituted 1Himidazo4,5c quinoline. This award was presented at Indian Drug Manufacturers Associations 56th Annual Day celebrations held on 20 January 2018.As on March 31, 2019, the Company has one subsidiary viz Xtend Industrial Designers and Engineers Pvt. Ltd. (XIDEPL). As there was No Business Activity, the following subsidiary has been voluntarily wound up during the year under consideration. 100% subsidiary Indoco Remedies Singapore Pte Ltd.In order to expand its business in the European market, the Company has effective 09 April 2019 set up a 100% subsidiary in the Czech Republic.The cash outflow on account of Capital Expenditure (CAPEX) during FY2019 was Rs 96.95 crore, as compared to Rs 139.45 crore in the last year. As on March 31, 2020, the Company had two subsidiaries:i. Xtend Industrial Designers and Engineers Pvt. Ltd. (XIDEL),ii. Indoco Remedies Czech sro.During the year 201920, eight new products, five in Cardiac segment, two in Antidiabetic segment and one in Dermatology segment, were launched.As on March 31, 2021, the Company had two subsidiaries, Xtend Industrial Designers and Engineers Pvt. Ltd. and Indoco Remedies Czech sro.As on March 31, 2022, the Company has 3 Subsidiary Companies, Xtend Industrial Designers and Engineers Private Limited, Indoco Remedies Czech SRO and Indoco Remedies UK Limited.