Ipca Laboratories Ltd

Ipca Laboratories Limited (IPCA) was incorporated on 19th October, 1949 under the name of 'The Indian Pharmaceutical Combine Association Limited.' Ipca is a fully integrated, pharmaceutical company manufacturing and marketing over 350 formulations and 80 API's covering various therapeutic segments. The products of the Company are now sold in over 100 countries across the globe. The Company has 18 manufacturing units in India manufacturing API's and formulations for the world market. Ipca's APIs and Formulations produced at world class manufacturing facilities are approved by leading drug regulatory authorities including the US-Food and Drug Administration (FDA), UK-Medicines and Healthcare products Regulatory Agency (MHRA), South Africa-Medicines Control Council (MCC), Brazil-Brazilian National Health Vigilance Agency (ANVISA) and Australia-Therapeutic Goods Administration (TGA) with operations in over 100 countries. Ipca is one of the biggest manufacturers in the world of APIs Atenolol (Antihypertensive), Chloroquine Phosphate (Antimalarial), Furosemide (Diuretic) and Pyrantel Salts (Anthelmintic) right from the basic stage. Ipca is also one of the largest suppliers of these APIs and their intermediates world over. The name of the company was changed to Ipca Laboratories Limited' in 6th August of the year 1964 and again name was changed to Ipca Laboratories Private Limited' in 13th January of the year 1966. Ipca had commissioned one of the first modern Pharma factory of yesteryears in the year 1969 at Mumbai. The present management took over the company in November of the year 1975. In the year 1976, started domestic marketing operations, the first company to offer sugarcoated Chloroquine tablets. Launched formulations of Metoclopramide under brand name 'Perinorm' for the first time in India during the year 1978. After two years, in 1980, the company had launched formulations of Bromhexine for the first time in India. Ipca's first APIs plant was commissioned at Ratlam in the year 1984 and also in the same period the second formulations plant was commissioned at Ratlam itself. Ipca's first APIs Plant for manufacturing of Chloroquine Phosphate was set up at Ratlam in the year 1986. As at 9th August 1988, again the company had changed its name to Ipca Laboratories Limited'. Ipca's status was converted to a Public Limited Company in 24th March of the year 1993 and also in the same year, the company had acquired Hoechst India's formulations unit at Kandla. During the year 1994, Ipca had acquired API Plant from BDH Pharmaceuticals (a subsidiary of E. Merck) at Indore. In the year 1995, the modern formulations plant at Athal (Silvassa) came to line. After a year, in 1996, the company had commissioned new API R&D Centre at Mumbai. In 2000, received ISO 9001 certification for Athal Plant. The Company had incorporated two subsidiaries in Mauritius in the year of 2001 under the name of Solway Investments Ltd and 'Sundridge Management Ltd. during the year 2002, launched new domestic marketing division, Intima to promote established brands with a focus on micro-interior marketing and also in the same year incorporated wholly owned subsidiary in Brazil under the name of Laboratories Ipca Do Brasil Ltd. Launched new domestic marketing division in the year 2003 as Activa, dedicated to Rheumatology Care. Forbes, a leading US business magazine, selected among its top 200 successful, rising companies outside USA in the same year 2003. Commissioned new formulation plant at Silvassa in the year 2004. Forbes selected Ipca, for the second consecutive year as one among the first 200 'Best under a Billion Company' in Asia. Innotech Pharma Limited was merged with Ipca in August of the year 2005. During the same year, Ipca entered in to Joint Venture with Holley Group of China for marketing Artemisinin based API and Formulation. Joint Venture setup in SAIF Zone, Sharjah, U.A.E. and named as ACTIVA Pharmaceuticals FZC. Also acquired Cardiac brand ISORDIL from Wyeth Limited. Ipca had entered into strategic alliance with Ranbaxy Pharmaceuticals Inc. for the U.S market in the year 2006. The Company's new plant at Dehradun was commenced operation from 5th May of the year 2006. As of January 2007, Ipca and Ranbaxy alliance had received U.S. FDA marketing approval for Atenolol Tablets. Ipca's New Biotech Research & Development Unit was inaugurated at Mumbai in March of the same year 2007. Ipca had awarded by Forbes Inc., as one of the 'Best under a Billion' Forbes Global's 200 Best Small Companies, 2007. Ipca had received final approval from the US FDA, for Metoclopramide tablets in June 2008. The Company had signed a partnership agreement with Clinton Foundation in July of the same year 2008. The Company plans to develop various APIs/intermediates having good potential for exports and local market. It plans additional investment in manpower, latest instrumentation to upgrade and strengthen R&D facilities. Also, the company aims at developing newer drug delivery systems along with developing formulations for developed market and bio-equivalence studies of the same. During the FY 2015, the Company acquired assets of formulations manufacturing unit situated at Plot No. T-139, MIDC,Tarapur, Palghar - 401506. The Company has also acquired as a going concern on slump sale basis the High Potency (Hormonal) Oral Solid Dosage formulations manufacturing unit situated at Sector III, Pithampur, Dhar (Madhya Pradesh) together with its employees. This manufacturing unit has the approval of WHO-GMP, INVIMA Colombia and German. During the year 2015, the Company acquired joint management stake in M/s. Krebs Biochemicals & Industries Ltd., a listed public limited company with fermentation based APIs manufacturing facilities situated at Visakhapatnam and Nellore (Andhra Pradesh). The Company had also made public announcement of open offer to the public shareholders of the said company under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. M/s. Krebs Biochemicals and Industries Ltd. became an associate company. No other company has become / ceased to be subsidiary or joint venture or associate company during the financial year 2015. During the year, as a part of group re-construction, Ipca Laboratories (UK) Ltd. acquired the entire issued share capital of Onyx Scientific Ltd., UK from its wholly owned subsidiary, Onyx Research Chemicals Ltd., U.K. on 25th March, 2015 in lieu of capital dividend declared by the said company. Consequent to this, Onyx Scientific Ltd., UK has become wholly owned subsidiary of Ipca Laboratories (UK) Ltd. from the said date. From the said date, Onyx Research Chemicals Ltd. UK has ceased to trade and is in the process of being dissolved. The wholly owned subsidiary company, Ipca Pharmaceuticals (Shanghai) Ltd., incorporated in the Peoples Republic of China, is in the process of being voluntarily closed down. During the year 2016, the wholly owned subsidiary companies, Ipca Pharmaceuticals (Shanghai) Ltd. incorporated in the People's Republic of China and National Druggists Pty Ltd. incorporated in the Republic of South Africa were voluntarily closed down. Onyx Research Chemicals Limited, U.K. merged with its holding company Ipca Laboratories (UK) Ltd. Consequent to this, Onyx Scientific Ltd. has now become wholly owned subsidiary of Ipca Laboratories (U.K.) Ltd. which in turn is the wholly owned subsidiary of the Company. During the year 2018, the Company acquired 100% share capital of Pisgah Labs Inc. a North Carolina Corporation, Old Hendersonville Highway, Pisgah Forest, North Carolina, USA through Ipca Pharmaceutical Inc., USA (Company's wholly owned subsidiary) and Onyx Scientific Ltd., U.K (Onyx) (Company's wholly owned step down subsidiary) for US$ 9.65 millions, free of debt. Pisgah was founded as a contract manufacturer and developer of active pharmaceutical ingredients (APIs) and intermediates. During the year 2019-20, the Company acquired 100% paid-up share capital of M/s. Ramdev Chemical Private Limited on 24th April, 2019 and became its wholly owned subsidiary. During the year 2021, M/s. Trophic Wellness Private Ltd., got incorporated with the Company and became its subsidiary. During year 2022, Company acquired 26.57% of share capital of M/s. Lyka Labs Limited with the Promoters of the said Company. It made a Public Offer to acquire additional 26% Equity Shares of the said Company from its public shareholders, where the Company now holds 26.58% of the equity share capital of the said Company. During the financial year 2022-23, the Company acquired further 6.53% of the paid-up equity share capital of Trophic Wellness Private Ltd. With this acquisition, the Company holds 58.88% of the paid-up equity share capital of the said Company. During the financial year 2022-23, the Company acquired, thru preferential allotment, further 4.78% of the paid-up equity share capital of Lyka Labs Ltd. Also, in the month of April, 2023, the Company acquired another 4.98% of the paid-up share capital of the said company thru part conversion of warrants issued on preferential basis. With these share allotments, the Company now holds 36.34% of the paid-up equity share capital of Lyka Labs Ltd. During 2022-23, the merger of M/s. Ramdev Chemical Pvt. Ltd. and M/s. Tonira Exports Ltd., Company's wholly owned subsidiaries with the Company was effective from 1st April, 2022. The Company's Active Pharmaceuticals Ingredients (APIs) at Dewas (Madhya Pradesh) commenced trial production in September, 2022.