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26 Dec 2014

Fulford India divests its consumer care products business to Bayer Pharma

Fulford India, a Merck & Co Inc subsidiary, has transferred its consumer care business to Bayer Pharmaceuticals Private Ltd.

Bayer AG has globally acquired the consumer care business from Merck & Co. As part of the global transaction, consumer care products like Alaspan, Polaramine, Tinaderm marketed by Fulford (India) have been transferred to Bayer Pharmaceuticals Private Ltd, Fulford India said in a filing to the BSE.

Bayer will completely take over the marketing and distribution of the consumer care products with effect from January 1, 2015.

Fulford (India) Ltd., incorporated in the year 1948, is a Mid Cap company (having a market cap of Rs 620.39 Cr.) operating in Pharmaceuticals and health care sector.

Fulford (India) Ltd. key Products/Revenue Segments include Creams & Ointments which contributed Rs 105.31 Cr to Sales Value (39.02% of Total Sales), Injectables which contributed Rs 102.87 Cr to Sales Value (38.12% of Total Sales), Liquids which contributed Rs 27.78 Cr to Sales Value (10.29% of Total Sales), Capsules which contributed Rs 16.98 Cr to Sales Value (6.29% of Total Sales), Tablets which contributed Rs 16.68 Cr to Sales Value (6.18% of Total Sales), Sale of services which contributed Rs 0.21 Cr to Sales Value (0.07% of Total Sales), for the year ending 31-Mar-2014.

 

Fulford is decades old heritage in pharma industry and instrumental in making many leading brands in indian pharmaceutical industry. Observer and explore how Fulford is transformed in Indian market. 

YEAR EVENTS 1948 – The Company was incorporated on 2nd March, under the name “C.E. Fulford (India), Ltd.”, as a wholly owned subsidiary of C.E. Fulford, Ltd., U.K. The company manufacture ethical pharmaceutical products which include various speciality products in the areas of antibiotics, antifungals, antiallergics, dermatologicals and corticosteroids.

1968 – The Company was engaged in the business of manufacturing and marketing pharmaceutical consumer products which included cough tablets and herbal ointment marketed under the trade marks “PEPS” and “ZAM’BUK” respectively.

– The Company became a wholly owned subsidiary of Schering Corporation U.S.A., which is 100% subsidiary of Schering-Plough Corporation, U.S.A.

1971 – The Company introduced its first ethical pharmaceutical product “GARAMYCIN”. With the assistance of Schering Corporation, U.S.A. the Company undertook the manufacture of a range of other ethical pharmaceutical products.

1980 – In December, Schering-Plough Investments, Ltd., a wholly owned subsidiary of Schering Corporation U.S.A., acquired the entire share capital of Schering-Plough Holdings, Ltd. Thus, this company became a direct subsidiary of Schering-Plough Holdings, Ltd. U.K.

– The Company has entered into an agreement dated 22nd January, with C.E. Fulford Ltd., U.K. (now known as Shering-Plough Holdings Ltd., U.K.) which grants to the Company a licence to continue to use the words “C.E. Fulford: or “Fulford” as part of the Company’s corporate name.

1981 – The name of the company was changed to Fulford (India) Pvt. Ltd., effective from 9th March. The Company was converted into a public limited company on 12th August, 1981.

1982 – 2,40,000 shares issued at par of which the following shares were reserved for allotment. 80,000 shares each to ICICI and UTI and 10,000 shares to employees/directors of the Company. 70,000 shares offered to the public in November 1981.

1989 – A new dermatological product namely “ENSAMYCIN” Cream was launched during the period.

1991 – The Company focussed its promotional resources on new products viz., new aminoglycoside (NETROMYCIN) and an anticancer (INTRON-A).

1992 – Another anti-cancer product “DROGENIL” was launched during the year.

1994 – Company has launched two new products viz., “LEUCOMAX” and “ELOCON” during the year. LEUCOMAX is an anti-cancer drug launched jointly with M/s. Sandoz India Ltd. while ELOCON is a low/medium potency steriod.

1995 – ELOCON cream was launched by the company. Company has also received duty exemption for its anti-cancer product LEUCOMAX.

1996 – The Company has launched “TOP NITRO: & ETHYOL during the year.

1997 – During the year the company launched `Alaspan’ syrup, a hi-tech product for relief of symptoms associated with allergic rhinitis which was well accepted in the market. A new brand of Interferon Alpha-2b viz. `Viraferon’, was also launched for Hepatitis segment.

– Schering-Plough (India), Ltd. and Wellnex Pharmaceuticals Pvt., Ltd. are subsidiaries of the company.

1998 – India (FIL), the Indian arm of Schering Plough, US, is prominent in the dermatology and antibiotics segment of the pharmaceutical industry. Its products enjoy leadership position in their respective categories.

– FIL is active in four main therapeutic areas – dermatology, anti-histamines, antibiotics and oncology, with the skincare segment (dermatology) accounting for around 50 per cent of the total turnover.

– The company plans to enter the anti-inflammatory category which is growing between 5-10 per cent per annum. This segment is dominated by companies including Knoll Pharmaceutical, Hoechst Marion Roussel and Dr. Reddy’s Laboratories.

– Other products which the company introduced are a new moisturising skin preparation in the dermatology segment and Viraferon for the hepatitis segment. – The company has a strong balance-sheet and a good financial track record.

– It also manufactures decongestants and steroids in the form of ointments, creams, injectables, tables and capsule form.

– Fulford have ventured into its parent company’s crore areas such as anti-allergy, anti-infection and anti-cancer.

1999 – Polarmine, an anti-histamine, dominates its segment in its range was been further enhanced with introduction of non-sedating anti-histamine-Alaspan.

– The Company had to suspend production of certain products during the second quarter since the material on hand did not meet the specifications.

– The Company is dependent upon suppliers of critical materials and services, and also public utility providers like power, telecom, etc. Y2K compliance by these agencies is, therefore, critical to the company’s business.

2001 – City-based pharma company Fulford India Ltd. has permanently closed down its production facility at Andheri.

2014 – Fulford India, a Merck & Co Inc subsidiary, has transferred its consumer care business to Bayer Pharmaceuticals Private Ltd.

Bayer AG has globally acquired the consumer care business from Merck & Co. As part of the global transaction, consumer care products like Alaspan, Polaramine, Tinaderm marketed by Fulford (India) have been transferred to Bayer Pharmaceuticals Private Ltd, Fulford India said in a filing to the BSE.

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