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200.00
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NSE Live
Dec 27, 11:22Prev. Close
193.00
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YEAR EVENTS 1958 - The Company was Incorporated under the name Merck Sharp & Dhome (India) Pvt. Ltd. on 4th November, with Merck & Co. Inc. USA holding 60% of capital and the principal Indian shareholder being Tata Sons, Ltd. The company' objects is to manufacture chemicals and pharmaceuticals. - The Company was established with the financial and technical collaboration of Merck & Co. Inc. USA. - The company had set up the manufacturing activities in a small but well equipped plant at Tardeo, Mumbai. 1959 - The name was changed to Merck Sharp & Dhome India Pvt. Ltd. on 30th June. The word private was deleted on 28th March, 1961 as the company was deemed to be a public limited company under section 43-A of the Companies Act. The name was further changed to Merind, Ltd. with effect from 17th December 1984. 1964 - The facilities of the plant at Tardeo, Mumbai were shifted to Bhandup, Mumbai and expanded to include equipment for chemical and pharmaceutical manufacturing operations. The plant produced antibiotics, cortico-steroids, anti-hypertensives, antihistormines and other pharmaceutical products. New products were introduced over the years. Since 1964, the Company also manufactured vitamin B-12 from the basic stage. 1978 - Out of the total shares issued till date 10,80,000 shares were held by Merck & Co. Inc. U.S.A and its nominees. 1980 - The Company applied for an industrial licence for the manufacture of Moduretic tablets, a new antihypertensive agent, for a capacity of 220 lakh tablets per annum. Application was also made to expand the capacity of Vitamin B-12 from 144 kgs. to 250 kgs. per annum. 1985 - Merci & Co. Inc. USA offered for sale out of its holding 3,60,000 No. of equity shares of Rs.10 each of the company at a prem. of Rs.3 per share. Out of this 7,200 shares were reserved for preferential sale to business associates of the company. The balance 3,52,800 shares along with the unsubscribed portion of the reserved quota, if any, were offered to the public. - The object of the offer for sale of share was to reduce the foreign holding from 60% to 40%. The offer for sale to the Indian public was to enable the Company to enlist its shares on the Mumbai Stock Exchange. 1986 - A new division `Merivet' opened up a new front on animal health products. A small beginning was made in the exports of bulk drugs and formulations with some shipments to Italy. - The Company acquired a plot of land admeasuring 39 acres for future expansion in bulk drugs and formulations. In keeping with the locational policy of the Government, the plot was acquired at Narsapur, a notified backward area in Andhra Pradesh. Also approval was received for the manufacture of two new formulations at the Bhandup works. 1987 - The Company established 18 new formulation for live stock and poultry and launched two new pharmaceutical formulations Modact & libotryp. Necessary approvals were received for the setting up of a R & D facility at Bhandup. - The pharma division launched two new products, viz., brich and Meriflox. A well equipped fermentation development laboratory was set up with pilot fermentators, computer integrated process monitoring and control systems. Analytical facilities in the quality control department was modernised by acquisition of the latest spectrophotometer and other analytical equipments with micro processor controls. - Detailed engineering plans for the bulk drug unit at Narsapur was under preparation and the Company made applications for several new formulations. - Discussions regarding the disinvestments were in progress between the Company's management and Merck & Co. 1990 - The Company introduced new formulations viz., Perione in the pharma division and telon inj, califec, Terifix M and Vitamin-B complex in the animal health division. - The Company undertook to expand its manufacturing base for vital bulk drugs and a pilot plant was commissioned at Bhandup. 1991 - The pharma division continued to bring new products and launched Buscalm and Resec. The animal health division launched meriplex liquid, oryteracyline injection, panfugal tablets and amfanide powder. - In December, the new multi purpose drug plant was commissioned. - Merck & Co. Inc. disinvested their entire 40% holding in the Merind Ltd., in favour of Ewart Investments Ltd., representing Tata Sons Ltd., and Tata Associate Companies. 1992 - The pharma division launched Inras an anti-hypertensive drug. - The Company commissioned a new sterile manufacturing facility for injectibles. 1993 - During March, the Company issued 18,00,000 No. of equity shares of Rs.10 each at a prem of Rs.60 per share on rights basis in the prop. 1:1. All were taken up. - Another 90,000 No. of equity shares of Rs.10 each at a prem. of Rs.60 per share were offered to the employees. Only 42,000 shares taken up. The remaining 48,000 shares not taken by employees was allowed to lapse. - Merck & Co. (with 40% holding in the company) proposed to sell their entire holding in the Merind Ltd., and thereby bring an end to the collaboration. - In March, Ewart Investments Ltd., offered for sale 7,20,000 No. of equity shares of Rs.10 each at a prem. of Rs.10 per share to the shareholders of the company in the ratio of 2:3. 1994 - 18,00,000 Right equity shares issued (prem. of Rs.60; prop. 1:1) Another 90,000 No. of equity shares offered to employees (only 42,000 shares taken up). 1995 - Tata Pharma Ltd., is a subsidiary of the Company. On 1st April, it acquired the Tata Pharma division of Lakme Ltd.