Solvay Pharma India Ltd merged Company Summary

Solvay Pharma India Ltd merged Summary

Solvay Pharma India Ltd is an India-based pharmaceutical company. The company is present in the pharmaceutical sector and operates in the field of womens health, gastroenterology, mental health and influenza vaccines. They do not have any manufacturing plant / facilities. The manufacturing activities are carried out by different parties on loan license basis. The companys product range includes gastroenterology, gynaecology, mental health, vaccines and others. Their gastroenterology products include duphalac solution, creon capsules, Colospa tablets and Retard Capsules, Pankreoflat tablets, udiliv tablets and Bdlcel tablets. Their mental health products include vertin tablets and uvox and ebasil. They produce Influvac injection, duodil and colossal iodine oral.Solvay Pharma India Ltd was incorporated on January 24, 2000 as Duphar Pharma India Ltd. Pursuant to the de-merger, the pharma business of Duphar-Interfran Ltd was transferred to the company with effect from April 1, 2000. The name of the company was changed from Duphar Pharma India Ltd to Solvay Pharma India Ltd with effect from April 15, 2002. In the year 2002, the company acquired Duvadilan brand from the parent company Solvay Pharmaceuticals B. V., The Netherlands for a consideration of Rs 14.25 crore. They launched a specialty division consisting of 130 field personnel, for achieving a better focus on promotion of certain products.In February 2003, the company acquired eight Pharmaceutical Brands/ marketing rights to brands mainly in Gynaecology range from Chemech Laboratories Ltd, Chennai, for total consideration of Rs 6 crores. They also entered into an agreement with Laboratories Besins International, France and Instituto Massone S.A., Argentina for promoting and marketing their products in India.In September 2004, the company sold their nasal decongestant brand Karvol to Indoco Remedies Ltd for a consideration of Rs 87.50 million. In the year 2005, the company consolidated their business through significant growth whilst preparing itself for major initiatives in the near future. They introduced a vaccine for influenza under their international brand name INFLUVAC. In October 2005, they launched their company website, www.solvaypharma.co.in.In the year 2006, the company successfully initiated and implemented Electronic Territory Management System (ETMS) in one of their sales divisions to equip their members with hand held devices and the software designed to provide & obtain a better quality of data, reports etc. They also implemented Automation systems in the areas of Human Resource Payroll and Travel Management, which helped automate many manual processes in these areas and provide better quality and timely MIS to the management.During the year, the company introduced two brand extensions, COLOSPA retard and CREON 25000. In December 2006, they also introduced a new product SOLSPRE, a local development for post surgical care in ENT area. In January 2007, they launched this product for sale.In the year 2007, the company re-launched their product Pankreoflat. They also initiated the launch of a promising new product, an antihistamine EBASIL, which was In-licensed from Micro labs.In the year 2008, the company purchased a new office premises situated at Goregaon (East), Mumbai. The company launched a sub-division of Key Accounts Executives as a part of their speciality division. This division shall take care of Influvac business, the fertility product portfolio and such other niche speciality products. They launched two new products EBASILTM an anti-histamine and UDILIV 600TM, a line entension of their Hepatoprotective brand UDILIVTM.In the beginning of 2009, the company launched their products, namely Creon 40000TM and Ebasil 20TM. They also introduced three new products Cervidil (in gynecology area for cervical ripening), Rawasa (in gastroenterology area for irritable bowel disease) and Arachitol-O (in gastroenterology area) during the year. In September 28, 2009, the Solvay Group announced to sell its worldwide pharmaceutical business to Abbott Laboratories, a global based healthcare company based in USA. In February 2010, the Abbott completed their acquisition of Solvay Pharmaceuticals Global Business for a total enterprise value of about EUR5.2 billion. Thus, the company became a part of Abbott Laboratories, US. In November 2010, the Abbott India Ltd agreed to merge the company into itself.