Company History - Merind
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.
