Indoco Remedies Ltd Share Price

History of Indoco Remedies Ltd

Indoco Remedies Limited, incorporated on August 23, 1947 is a Mumbai-based pharmaceutical company focused on formulations, with some presence in contract manufacturing and research. The Company headquartered in Mumbai, is a fully integrated, research-oriented 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 212 million company has 11 manufacturing facilities, 7 of which are for FDFs and 4 for APIs, supported by a state-of-the-art R&D Centre and a CRO facility. Currently, Indoco has a presence in therapeutic segments including anti-infective, anti-cold preparation, opthalmic, antispasmodic, stomatology, anti-inflamma ...tory and anti-fungal. As per AC Nielsen ORG-MARG 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 ORG-MARG 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 cardio-vascular segments. Its entry into the lifestyle segment with a strong presence in the prescription segment would augur well for the higher- than-average industry growth. Currently, Indoco has 4 manufacturing facilities. Two are located in Mumbai and two in Goa, and an R&D centre in Mumbai. The solid dosage facility in Goa has been accredited by UK-Medicines 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 98-bed facility, including a four-bed ICU, state-of-the-art analytical lab and capabilities of eCTD submission. It also has GCP certification from UK-MHRA and also has regulatory approvals from several bodies including USFDA. The acquisition would reduce the Company's dependability to outsource bio-equivalence studies. This will not only reduce cost but also ensure time-bound outcome of studies and add pace to the Company's existing R&D 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 company's 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. During the year 2017-18, the Company (F&D) 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. Indoco's R&D efforts received due recognition with the Best Process Patent Award for the year 2016-2017' 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 1H-imidazo[4,5-c] quinoline'. This award was presented at Indian Drug Manufacturers Association's 56th Annual Day celebrations held on 20 January 2018. 100% subsidiary known as Indoco Remedies Singapore Pte Ltd. was set up in the Czech Republic effective from April 9, 2019. In August'21, Company received GCP & GLP Accreditation from the UK-MHRA (Medicines and Healthcare Products Regulatory Agency) for its Clinical Research Division - AnaCipher, located at Hyderabad. The Company launched six new products (SKUs), two in the acute segment, Naricover and Dropizin Syrup, one in the chronic segment, Methycal 60 K and three in the sub-chronic segment, Rexidin SRS, Noxa and Subitral in the domestic market in 2022. In 2023, Company acquired 85% equity stake in the US based FPP Holding Company, LLC for USD 4 million from Contract Pharmacal Corp. (CPC). Warren Remedies Private Limited a wholly owned subsidiary of the Company, was incorporated in 2022-23 for setting up a unit for manufacturing of pharmaceutical products both formulations as well as Active Pharmaceutical Ingredients (API). The Company acquired 26% equity stake each in Kanakal Wind Energy Private Limited and Jalansar Wind Energy Private Limited, representing 8,64,000 equity shares of Rs 10/- each and 5,76,000 equity shares of Rs 10/- each respectively, for setting up Solar Power Plant at Akkalkot, Solapur District, Maharashtra.