Company History - German Remedies
1949
- The Company was incorporated on 25th November, as a private
limited
Company under the name German Remedies, Ltd.
1952
- The name was changed to German Remedies & Trading Co., Ltd. The
trading department was closed in 1962 and the name was changed to
German Remedies Private Ltd. It became a public limited company on
22nd May, 1973.
- The Company entered into agreements with West German companies for
scientific and technical collaboration in respect of the products
manufactured by the Company.
1962
- On 8th May, sole distribution and manufacturing agreement was
entered
into with Schering AG, Berlin/Bergkamen, for the distribution and
manufacture in India to some of their pharmaceutical specialities.
1964
- On 12th November, agreement was entered into with Schering AG
granted
to the Company a licence to manufacture 17-Hydroxy
progesterone-17-caproate by esterification of 17-hydroxy progesteron
in
India under an Indian patent owned by the collaborators.
1965
- On 5th February, the Company entered into an agreement with C.H.
Boehringer Sohn, Ingelheim am Rhein (also known as Hoehringer
Ingelheim
GmbH) who agreed to give the Company free of royalty their know-how
for
the manufacture of (4, 4-Diacetoxy iphenyl) - (pyridil-2) - methane.
- 9,500 shares issued in 1967.
1966
- On 3rd January, an agreement was entered into with Nordmark-Werke
GmbH, who agreed to provide the technical know-how and to permit the
Company to manufacture their products in India.
1969
- On 15th October, an agreement was entered into with Chemiedwerk
Homburg, Frankfurt am Main, who agreed to provide the technical
know-how and to permit the Company to manufacture their products in
India without any royalty being payable.
- 8,550 Bonus Equity shares issued in the prop. 3:10.
1970
- 2,950 shares issued.
1972
- An agreement was entered into with M/s. Kapjamm A. Wulfing, West
Germany. Under the agreement, the collaborators agreed to provide
the
know-how and to permit the Company to manufacture 7-2 hydroxy-3
(N-2-hydroxyethyl-N-methylamino) propyl-1,
3-dimethyixanthine-pyridine-3-carboxylate.
- 12,000 Bonus shares issued in prop. 3:10.
1973
- Shares sub-divided. 3,30,000 shares issued (prem. Rs 3 per
shares);
31,700 shares to Indian shareholders; 8,993 shares to Indian
employees
and 2,90,000 shares to the public.
1976
- 4,25,000 Bonus shares issued in prop. 1:2.
1979
- 7,65,000 Bonus shares issued in prop. 3:5.
1982
- 12,24,000 Bonus shares issued in prop. 3:5.
1985 -
2,00,000 - 15% non-convertible secured redeemable debentures (Series
A)
of Rs 100 each were privately placed with UTI. The funds raised by
this issued were utilised for working capital requirements.
1987
- The Company acquired approvals from Government to produce bulk
drugs,
including Theophylline.
1989
- The company launched an internationally well-known antibiotic
product
called Augmentin during the year.
- The Company undertook to set up one more modern formulations
production plant in Goa.
- The production plant is equipped to produce ointments, tablets and
injectable products.
- The Company issued 3,00,000 - 14% (1,50,000 - 14% `B' Series &
1,50,000 - 14% `C' Series) secured redeemable non-convertible
debentures of Rs 100 each on private placement basis. These
debentures
were to be redeemed at the end of the seventh year from the date of
allotment at a premimum of Rs 5 per debenture.
1990
- 32,64,000 Bonus Equity shares issued in prop. 3:5.
1992
- During December, the Company issued 10,28,877 - 15% secured
redeemable partly convertible debentures of Rs 100 each on rights
basis
to the existing shareholders other than foreign companies in the
proportion of 1 debenture: 4 Equity shares held.
- Another 54,151 debentures of Rs 100 each were offered to the
employees of the Company.
- Part A of Rs 55 of each debenture was converted into one equity
share
of Rs 10 each at a premium of Rs 45 per share on 1st December, 1993.
Part B of Rs 45 of each debenture will be redeemed in three equal
instalments at the end of 7th, 8th and 9th year from the date of
allotment of debentures.
1993
- The Company commenced marketing of several oricology products of
Asla
Medica AG in the domestic market besides producing and marketing new
products like JONAC range of anti-inflammatory drugs and various
generic products.
- 17,17,893 Bonus Equity shares issued.
1995
- New products such as Uchalist, Belovas and Styporin were launched
in
the local market.
1996
- New products like Somatosan, Zelbend, Paractol liquid and
Kamillosan
liquid were launched for the local market.
1997
- New products such as Jonac Drinkable Tablets, Jonac CR Capsules
and
Azep Nasal Spray were launched during the year.
- In 1997, the company entered into a licensing arrangement with
Novartis for one of its products.
- German Remedies' other technical collaborators include Schering
AG,
Chemiewerk Homburg Zweigniederlassung and Boehringer Ingelheim
International GmbH.
- German Remedies is engaged in the manufacture of antibiotics,
pharmaceutical drugs, pharma chemicals, oilmat gel, powder, liquids,
oral and injectibles. The company entered into agreements with
German
companies for scientific and technical collaborations for its
products.
Currently Beecham Wulfing, Germany holds a 40 per cent stake in the
company.
1998
- During January Series D 18.25% Non-convertible debentures
aggregating to Rs 35 million, which were privately placed with UTI
were
redeemed with concurrence of UTI.
- GR Exports, Ltd., is a subsidiary of the Company.
- German Remedies, the Rs 143-crore pharma company has signed a
licensing agreement with Dr Falk Pharma GmbH of Germany to make and
market their products in India.
- GRL has entered into a joint venture with Madaus AG.
1999
- Two major products would be launched in the gastro-intestinal and
hepetological categories in the next 18 months, but they refused to
disclose other details.
- The Rs 200-crore German Remedies has forged a tie-up with French
multinational Ethypharm SA to register, manufacture and market the
latter's drug-delivery systems in the country.
- For German Remedies, the tie-up is one in a lengthening list of
agreements with companies. For instance, it has joined hands with
Dr
Falk Pharma GmbH for marketing its products. It also manufactures
products for Madaus AG in a modern manufacturing facility set up in
Goa
under a joint venture agreement.
- It has recently launched a hormone-replacement therapy called
Progynova.
2000
- The Company has informed that Crisil has made an upward revision
of
Non Convertible Debentures from AA to AA+ and Fixed Deposit
programme from FAA+ to FAAA.
2001
- The ahmedabad based, Zydus Cadila, has entered into an agreement
to
pick up 27.7 per cent stake in German Remedies from its promoters,
Asta
Medica and Heller group, through its wholly-owned subsidiary.
- The board of German Remedies has been reconstituted, with Zydus
Cadila chairman Mr Ramanbhai B Patel being elected as the chairman
of
German Remedies.
2005
-GR unveils Betaferon
