Solara Active Pharma Sciences Ltd

Solara Active Pharma Sciences Ltd is a Public Limited Company incorporated in February 23, 2017 under the provisions of Companies Act, 2013 to undertake business in manufacturing, production, processing, formulating, sale, import, export, merchandising, distributing, trading of and dealing in active pharmaceutical ingredients (APIs). The Company has six APIs manufacturing plants located in Ambernath, Mangalore, Mysore, Puducherry, Vishakhapatnam, and Cuddalore with a capacity of over 2,000 kilo litres and two RD Centres in Chennai and Bangalore. The business is spread across 75 countries globally with extensive operations in key markets of North America, Europe, Japan, South Korea, the Middle East and North Africa.The Company offer rich basket of niche highvalue products for global markets. The Company has developed 80+ commercial APIs predominantly in anthelmintic, antimalarias, antiinfective, neuromuscular insomnia and antipsychotic hyperkalemia segments, among others. It also reinforce entry barriers to competition and build strong intrinsic value through market specific launches. Apart from this, the Solara Active has two research and development units in Bengaluru and Chennai equipped with stateoftheart facilities and a pipeline of 25+ products, at different stages of development. These drugs primarily deal with anthelmintic, antimalarias, beta blockers,muscle relaxants, novel oral anticoagulants, antiinfective and other niche segments.The Companys manufacturing facilities enjoy regulatory approvals from the United States Food and Drug Administration (USFDA) European Directorate for the Quality of Medicines (EDQM) Korea Food Drug Administration (KFDA) South Korea Euro Zone Good Manufacturing Practice (EUGMP) Danish, World Health Organization (WHO) Geneva Medicines and Healthcare products RegulatoryAgency (MHRA) Federal Commission for the Protection against Sanitary Risk (Cofepris) Mexico Therapeutic Goods Administration (TGA) Australia Pharmaceuticals and Medical Devices Agency (PMDA) Japan.During the year, the Companys wholly owned subsidiary Strides Chemicals Private Limited (Strides Chemicals) was amalgamated with the Company. The Honourable National Company Law Tribunal, Mumbai Bench, approved the Scheme of Amalgamation of Strides Chemicals with Company on December 20, 2019. Accordingly, the Company has fixed effective date for the Scheme is February 01, 2020. The appointed date for scheme is September 01, 2018. The Company has completed filing of necessary documents for giving effect to the Scheme. Consequent to amalgamation, the entire equity shares held by Company in Strides Chemicals stands cancelled.The Board of Directors of Company at its meeting held on April 09, 2021 have approved Scheme of Amalgamation for merger of Aurore Life Science Private Limited, Empyrean Lifesciences Private Limited and Hydra Active Pharma Sciences Private Limited (Transferor Companies) into the Company (Transferee Company) in terms of Section 230 to 232 of the Companies Act, 2013. The Scheme is subject to necessary statutory and regulatory approvals including the approvals of National Company Law Tribunal, the shareholders and creditors of each of the companies. The Appointed Date for the said Scheme of Amalgamation is April 01, 2021 or such other date as may be agreed between the Transferor Company and Transferee Company and approved by National Company Law Tribunal.The Companys new Greenfield plant situated at SEZ unit, Plot No.:3B,3C,3D, Part 2 and 2A1, APIIC APSEZ, Atchutapuram Village, Rambilli Mandal, Visakhapatnam 531011, Andhra Pradesh, has commenced commercial production in 2021.The Board at its meeting held on February 3, 2021 has approved to acquire 4,87,000 additional share capital in Sequent Penems Private Limited, subsidiary company of Solara. Subsequent to year end, the said transaction is completed and Sequent Penems Private Limited is wholly owned subsidiary of Company with effect from April 27, 2021.The achievements received by the Company in FY 202021 were as follows: The Ambernath facility received Certificate of Merit from National Safety Council, Maharashtra for Lowest Average Accident Frequency Rate. They improved EcoVadis Score from 31 to 47 and was awarded a bronze medal in recognition of Sustainability achievement. The Mangalore site of company was certified for ISO 14001 and ISO 45001. Besides, they conducted a Red Tag Event to identify unsafe conditions and acts to make workplace injury nd incident free. All employees and contractors actively participated in the event..