Rhone Poulenc (India) Ltd.

1928
 
 - The Company was incorporated at Calcutta as a private limited
 company
 under the name of May & Baker (India) Ltd., on 24th September under
 the
 Indian Companies Act, 1913.  On 20th September 1979 company was
 converted into a public limited company.
 
 1956
 
 - The Company changed its name to May & Baker (India) Pvt. Ltd., on
 1st
 April.
 
 - At the Bhandup factory, May & Baker Ltd., U.K., has been
 manufacturing basic drugs, pharmaceuticals, photographic
 specialities,
 agricultural formulations and laboratory chemicals.  It was the
 first
 in India to manufacture Metronidozole and a wide range of sulpha
 drugs
 and antihistamines.
 
 1979
 
 - Towards the implementation of the Research Bank of India's
 directives, the entire business and undertaking in India of May &
 Baker
 Ltd., U.K., were with effect from 1st January, 1975 trasferred to
 and
 vested in the Company as a going concern in terms of the Scheme of
 Amalgamation sanctioned by the Mumbai High Court by its Order dated
 26th April.
 
 - Under the Scheme of Amalgamation sanctioned by the Mumbai High
 Court
 on 26th April, the total consideration payable to May & Baker Ltd.,
 U.K., for the acquisition of their business and undertaking in India
 with effect from 1st January, 1975 was Rs 6,75,81,232 to be
 satisfied
 as follows:
 
 - (i) by the issue and allotment of 17,50,000 No. of equity shares
 of
 Rs 10 each to May & Baker Ltd., U.K., without payment in cash,
 
 - (ii) Rs 1,75,00,000 to be paid to May & Baker Ltd., U.K., in cash
 in
 5 equal annual instalments the first installment to fall due after
 the
 expiry of 30 days.
 
 - (iii) Balance of Rs 3,25,91,232 to be remitted in cash to May &
 Baker
 Ltd., U.K., without interest and grant of no objection/tax clearance
 certificate from the tax authorities of India.
 
 - The letter of RBI dated 11th January, stated that it would be
 prepared to consider permitting remittances by the Company to May &
 Baker Ltd., U.K., only to the extent of Rs 2,71,70,000 towards
 unremitted past profit as on 31st December, 1974.
 
 - May & Baker Ltd., U.K. is a 100% subsidiary of Rhone-Poulenc S.A.,
 France.
 
 1980
 
 - 11,98,400 shares issued at par out of which 5,98,400 shares
 reserved
 and allotted (2,00,000 shares each to LIC and UTI; 1,00,000 shares
 to
 GIC; 78,400 shares to employees of the Company and 20,000 shares to
 business associates).  6,00,000 shares offered to the public in
 November 1979.
 
 1983
 
 - The Company issued 3,00,000-15% secured debentures of Rs 100 each
 and
 15,00,000 No. of equity shares of Rs 10 each.  Of these, 1,44,000
 debentures and 7,20,00 No. of equity shares were offered as rights
 to
 resident Indian equity shareholders in the proportion of 3
 debentures
 and 15 No. of equity shares for every 25 No. of equity shares held.
 1,31,000 debentures and 6,55,000 No. of equity shares were offered
 to
 the public.
 
 1984
 
 - The Company decided to set up a plant at Paithan to manufacture
 pharmaceutical formulations.
 
 - The agrochemical products were grouped under a subsidiary company
 known as Rhone-Poulenc Agrochemicals (India) Ltd., which was purely
 a
 marketing company.
 
 1988
 
 - Three new products, namely, `EMTHROCIN', an antibiotic, `SECTRAL',
 a
 unique betablocker and `EMBESEL', an antacid were introduced in the
 market.  Government had amended the Drugs (Price Control) Order,
 1987
 and deleted certain drugs from price control.
 
 1989
 
 - The Company's factory at Paithan was approved by Department of
 Health, Medicines Control Agency, U.K. for manufacture of tablets.
 
 - `Rhone-Poulenc Chemicals (India) Ltd., became a subsidiary of the
 Company.  This was formed exclusively to handle Group's indenting
 business in India.
 
 - In order to take the benefit of the association with Rhone-Poulenc
 Ltd., the Company entered into Name Licence Agreement with
 Rhone-Poulenc S.A., France on 13th April.  Hence, the name of the
 Company was changed from `May & Baker (India) Ltd.' to
 `Rhode-Poulenc
 (India) Ltd. with effect from 30th March, 1990.
 
 1990
 
 - The Company's plant and machinery, land and buildings were
 revalued
 as at 1st April, and the resultant surplus amounting to Rs.
 46,18,61,000 was credited to revaluation reserve.
 
 1991
 
 - The Company introduced new products such as Profenid CR -
 Controlled
 Release Ketoprofen and Piflasyn - new generation Quinolone.  The
 Company proposed to introduce new Macrolide - Rovamycin in tablet as
 well as suspension forms.
 
 1992
 
 - The Company introduced a macrolide antibiotic, spiramycin under
 the
 trade name Rovamycin.
 
 1993
 
 - The Company introduced SECNIL, a revoluntionary anti-protozoal
 molecule.  The Company also undertook to introduce new molecules
 developed through Rhone-Poulenc Rovers original research in the
 Indian
 market.
 
 1994
 
 - The Company introduced a new formulation viz Secnidazole 1 gm in
 the
 market.  As new generation anti-malarial drug, a quinolone
 antibiotic,
 an antihistamine, and an anticancer drug one under registration.
 
 1995
 
 - The Company proposed to introduce a novel highly efficacious anti
 malarial drug in the near future.
 
 1996
 
 - The company introduced Artemether, a novel highly efficacious
 antimalarial, the first of its kind for the treatment of resistant
 malaria, under the brand name PALUTHER.  The company also introduced
 two major brands viz; MAYLOX - Antacid/Antiflatulent and DOLIPRANE -
 Antipyretic/Analgelic.
 
 - A part of the branded and generic pharmaceutical business of Max
 India Ltd. was acquired by the company, which will provide critical
 mass, particularly in anti-infective range and also address the
 paediatric segment.  The generic business was launched in February
 1997.
 
 1997
 
 - The Company introduced new formulations of Phensedyl D.M. and M&B
 cough syrup.
 
 - The company started refurbishment and modernisation of sterile and
 liquid facilities at Bhandup and also upgradation of Research &
 Development as well as Quality Assurance Laboratory.  Technical
 assistance for entire refurbishing was extended to the company by
 Rhone-Poulenc Rorer, France.
 
 - The Company received renewal of recognition of Inhouse R&D unit
 from
 Dept. of Scientific and industrial research, Ministry of Science and
 Technology, Government of India for the period upto 31st March,
 2000.
 
 1998
 
 - The Company proposed to introduce formulations of branded
 Betalactum
 antibiotics and also paediatric formulations of Secnil granules and
 Gardenal syrup.
 
 - Rhone Poulenc, the seventh largest pharmaceutical group in the
 world,
 has launched a preservation programme for the Taj Mahal involving a
 total outlay of $2,36,000.
 
 - Rhone Poulenc India (RPI) is a 40 per cent subsidiary of Rhone
 Poulenc Rorer, France.
 
 - The company had successfully introduced new formulations of
 Phensedyl
 D M and M&B cough syrup.
 
 1999
 
 - The company has launched five new products and four line
 extensions,
 including Nivaquine vials, Secnil and Gardenal, in different
 therapeutic groups.
 
 2000
 
 - Crisil has reaffirmed the P1+ (very strong with relatively higher
 standing within the category) rating assigned to the Rs 18-crore
 commercial paper programme of the company.
 
 - The Company has divested its shareholding of 10,000 No. of equity
 shares of Rs 10 each in Rhodia Chemicals India Ltd. in favour of
 Albright & Wilson Chemicals India Ltd. at a price of Rs 150 per
 share.