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German Remedies > Company History > Pharmaceuticals > Company History of German Remedies - BSE: 500156, NSE: GERMANREM
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German Remedies

BSE: 500156|NSE: GERMANREM|ISIN: INE382A01014|SECTOR: Pharmaceuticals
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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
Source : Dion Global Solutions Limited
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