Shasun Pharmaceuticals Ltd Merged Company Summary

Shasun Pharmaceuticals Ltd Merged Summary

Shasun Pharmaceuticals (Formerly known as Shasun Chemicals & Drugs Limited (SCDL)) was incorporated on 19th April 1976 as a private limited company under the name of Shasun Chemicals (Madras) Private Limited. SCDL is engaged in the manufacture of Active Pharmaceutical Ingredients (API) and drug products with a significant presence in the anti-inflammatory and anti-ulcerative therapeutic groups. In addition, the company has recently strengthened its offering in contract research, custom synthesis, contract manufacturing and contract formulation services through its acquisition of Rhodia Pharma Solutions and offers services and products to clients in US, Europe and Asia. Shasun headquartered in Chennai, India, operates world-class API facilities at Cuddalore and Puducherry in South India and Dudley in UK and Annan in Scottland. In the last few years Shasun has added a state-of-the-art research center in Chennai and a world class solid oral dosage formulation facility in Puducherry. The status of the company was converted from private limited to public limited in March of the year 1992. Subsequently, the name was changed to the present one Shasun Chemicals & Drugs Limited in October of the year 1993. SCDL came out with public issue in April of the year 1994 and in 1995, the company had signed a technical collaboration and marketing agreement with Nagase & Co., Japan, for the manufacture of S-Ibuprofen, a high value drug. During the identical year of 1995, SCDL had commissioned wind mills for generation of power and had set up a subsidiary - Shasun, Inc., at Boston, USA, in June, for the purpose of marketing its products. The prestigious ISO 9002 certification was obtained by the company from Bureau Veritas Quality International, Switzerland in September of the year 1996. Shasun had signed a technology transfer agreement with Chirotech, U.K. during the year 1997 for the manufacture the 5-Naproxen, an anti-inflammatory drug. The company made a technological tie-up with Genpharm for process know-how, for the production of Ranitidine Form I in the year 1999 and also entered into an agreement with a Canadian formulation company for supplying Ranitidine during the same year of 1999. During the period of 2000, the company honored with the Visveswarayya Industrial Award by the All India Manufacturers Organisation and also bagged the merit trophy for quality excellence from the Indian Drug Manufacturers Association. SCDL formed an alliance with Eastman Chemical Company Ltd of US in the year 2002 to license the latest technology for the manufacture of acrylic emulsion and obtained US FDA approval for its three bulk active pharmaceutical products. Suven Pharmaceuticals Ltd, Innovasynth Technologies Ltd and the company had entered into alliance during the year 2003 for drug discovery. Also, Shasun made a pact with Eli Lilly and Co. for manufacture of API Tuberculosis in the identical year. A bioinformatics deal was signed with US-based Genome Technologies in the same year 2003 on the heels of cost advantage offered by India. In June 2003, SCDL formed its strategic alliance with Eastman Chemicals of the US for the development and manufacture of performance chemicals. During the year 2005, the company had signed a manufacturing & supply agreement with Codexis, USA and also entered into an agreement with Alpharma. In 2006, the company had acquired the pharmaceutical custom synthesis business of Rhodia Group; the intent letter was signed in January and completed in April of the same year 2006. A technology licensing agreement was signed by the company with Lundbeck in July of the year of 2007 through its wholly-owned UK-subsidiary Shasun Pharma Solutions. In February 2008, SCDL had entered into a non-exclusive licensing agreement with Merck & Co. Under terms of the agreement, Shasun grants Merck the use of its proprietary cross-coupling copper technology to manufacture and commercialize APIs. The Company is setting up a process development facility in Piscataway (New Jersey), United States. The facility will be scaled to provide direct active pharmaceutical ingredients (APIs) development services in the pre-clinical and clinical trial stages to customers in North America. Further growth is also planned and moving to full capacity from October 2009.