Somerset Therapeutics Ltd Company Summary

Somerset Therapeutics Ltd Summary

Wintac Ltd is a pharmaceutical company based in Bangalore. The company is engaged in development, manufacturing and marketing of quality pharmaceutical products. Their primary business activity comprises of contract manufacturing of pharmaceutical formulations for major pharma companies. The company has their manufacturing unit located at Nelamangala in Karnataka. Their manufacturing facility has been approved by several regulatory agencies including USFDA, AFSSAPS - the regulatory agency of France, Ministry of Health - Ukraine, Ministry of Health - Egypt and NAFDAC of Nigeria.The companys therapeutic range of products includes Non-steroidal Anti Inflammatory Drugs, Cardio-Vascular Drugs, Vitamins, Anti-histamine, Anti-coagulant and Anti-bacterial formulations, Anesthetics, Ophthalmic (Tears Supplement, Anti bacterial, anti-glucoma, cortico steriods). They also market the products of Medispec Pharmaceuticals Pvt Ltd, a JV company. Wintac Ltd was incorporated on August 23, 1990 as a private limited company with the name Recon Pharma Pvt Ltd. The company was established to take over the business of the partnership firm, Recon Pharma. During the year 1992-93, they set up agrochemical business in the company. In March 1, 1993, the company changed their name from Recon Pharma Pvt Ltd to Recon Pvt Ltd. In March 5, 1993, the company was converted into a public limited company and the name was changed to Recon Ltd. In the year 1993, the company implemented the backward integration to manufacture bulk drug namely, Pefloxacin Mesylate mainly for captive consumption of the Pharma division at Jigani Industrial Estate, Bangalore. Also, they set up a joint venture company with Tech India Ventures Inc in the form of Medispec Pharmaceuticals Pvt Ltd.During the year 1996-97, the company formed Recon Agrotech Ltd as a subsidiary of the company for agrochemical business. In the year 1997, they set up a manufacturing facility at Nelamangala in Karnataka for manufacture of sterile injectibles. Also, they set up R & D centre at Bannerghata Road, Bangalore. During the year 1997-98, the company transferred agrochemical business to the wholly owned subsidiary company Recon Agrotech Ltd.In the year 2000, the company sold their entire Marketing Brands/Trade Marks of Pharmaceutical Formulations along with marketing and distribution network to Zydus Cadila Healthcare for Rs 40 crore. With the sale of brands, they changed the name of the company from Recon Ltd to Wintac Ltd with effect from July 10, 2000.In the year 2001, the company sold their bulk drug unit at Jigani Industrial Estate and R & D Centre at Bannerghata Road, Bangalore to Hikal Ltd for a consideration of Rs 6.91 crore. Also, they divested their entire shareholding in Recon Agrotech Ltd in favour of A Suresh and thus, Recon Agrotech Ltd ceased to be the subsidiary of the company.In the year 2005, the companys manufacturing facility at Nelamangala got the approval of French Regulatory Authority. In the year 2006, the company entered into supply agreements with couple of US based pharmaceutical companies for marketing products in US Market. The agreement covers product development, submission of dossiers and commercial supplies after the approval of ANDA.In the year 2009, the company entered into agreement with two more US based pharmaceutical companies for the development and supply of products to US market. In the year 2010, USFDA approved the first ANDA for Ondensetron Injection 20ml. In the year 2011, USFDA approved two more ANDAs for Ondensetron Injection 2ml and Latanoprost ophthalmic solution.