History of Alembic Ltd.
YEAR EVENTS 1907 - The Comp. was Incorporated at Vadodara. The Company manufacture chemicals, pharmaceuticals, injections, penicillin, antibiotics, sulphuric acid, superphosphate & other fertilisers, generating electricity, manufacture of electronic items, running of hospitals & health care units, etc.
1938 - The authorised capital was Rs 20 lakhs divided into 10,000-6 1/4% preference shares of Rs 100 each & 10,000 No. of equity shares of Rs 100 each. 5,000 preference shares & all equity shares were issued & subscribed.
1942 - 5,000-6% preference shares were issued & subscribed.
1944 - The authorised capital was increased to Rs 50 lakhs by the creation of 30,000 shares of Rs 100 each out of which 3,000 shares were classified as equity shares & issued to the shareholders in the proportion 3:10.
1946 - The Comp. issued 2,000 No. of equity shares as rights at a premium of Rs 150 per share in the proportion 2:13.
1947 - 5,000 unclassified shares were converted into equity, shares and they were issued as rights at a premium of Rs 150 per share in the proportion 1:3.
1948 - 5,000 unclassified shares were converted into equity shares and issued as bonus in the proportion 1:4.
1949 - The authorised capital was increased to Rs 1 crore by creation of 5,000-6% third preference shares of Rs 100 each & 45,000 unclassified shares of Rs 100 each. Further 7,000 unclassified shares were converted into equity shares & issued as bonus in the proportion of 2:3 irrespective of class.
1958 - The authorised, issued & paid-up capital stood at Rs 100,00,000 & Rs 80,00,000 respectively as at 31st December.
1959 - 20,000 Right Equity shares offered at par in prop. 1:4 to all classes. In 1961, 10,000 Right Equity shares offered at par in prop. 1:1 to classes.
1962 - 9,500 Bonus equity shares issued in prop; 1:10, 40,000 Right Equity shares offered at a prem. of Rs 30 per share in the prop. 4:11 irrespective of class.
1966 - In Dec. 48,167 Bonus Equity shares issued in prop. 1:3. 12,278 No. of equity shares issued without payment in cash to members of Alembic Distributors Ltd., Mumbai & Alembic distributing Agency, Bangalore on their merger.
1967 - The amalgamation on Alembic Distributors, Ltd., with the Company from 1st January, was sanctioned by High Courts of Ahmedabad & Mumbai. The Scheme of Amalgamation of Neomer limited with the Comp. from the appointed date 1.1.1983 was approved by High Court of Gujarat by its Order dated 12.9.1986.
1968 - 25,080 Right Equity shares issued at par in prop. 5:41.
- In March 1971, 57,487 Right Equity shares issued at par in the prop. 1:5.
1977 - 6 1/4% Pref. & 6% III Pref. shares converted to 9% redeemable Pref. shares from 1.1.1976. 5,000-5% Pref. shares redeemed at Rs 105 per shares on 1.1.1977.
1979 - The Comp. issued 75,000 secured debentures of Rs 100 each as rights to augment the resources of working capital.
1980 - Redeemed 1,000 Pref. shares each on 1.1.1978, 1.1.1979, 1.11.1980, 1.1.1981, 1.1.1982 & 1.1.1983.
1985 - 2,000 Pref. shares redeemed. 66,900 No. Equity shares allotted without payment in cash to the shareholders of Neomer, limited on its merger. 2,000 Pref. shares redeemed.
1989 - A variety of new products were introduced under group Feed Supplements & Tonics which were well received in the market.
- The Panpharm Division was started at village Panelav in Panchmahal district of Gujarat State to undertake manufacture of formulations.
1990 - A new quinolone antibacterial drug 'Ciprofloxacin' was introduced in the market.
- The Veterinary Division introduced certain new farm products like ascal, ruman bolus etc. during the year.
- New products such as ginseng preparation & zinc & vitamin-B complex preparations were introduced in the market.
- 100,000-14% non-convertible debentures were issued. These debentures are redeemable in three yearly instalments commencing from 11th May, 1995 with redemption premium of 5% payable along with the last instalment.
1991 - As a result of research & development activities, the Comp. developed Roxithronycin, a newer generation bulk drug.
1992 - The veterinary division introduced Cloxacillin Amoxicillin injections.
- Introduction of Cloxacillin Amoxicillin injection in the market.
1993 - The Expansion of Penicillin capacity to 1000 MMU together with integrated effluent treatment plant was undertaken & series of steps were taken to instal diesel engine driven compressors for constant air supply etc.
- The erstwhile Neomer, limited had a licensed capacity to manufacture 6000 mt. polypropylene staple fibre. In addition to this, it was registered with D.G.T.D. for manufacture of 1000 mt. per annum. of polypropylene multifilament yarn.
- Under the broad banding policy, Neomer had obtained permission to manufacture other synthetic filament yarn i.e. polyester and nylon yarn including industrial yarn/tyre cord.
- The Comp. introduced a revolutionary antibiotic Azithromycin which is used in tissue directed antibiotic therapy.
1995 - With a view to facing this eventuality the Comp. proposed to install gas turbine based captive Co-generations Power Unit at a total outlay of Rs 25 crores.
- Two large pencillin fermentors were installed & commissioned.
- 'Algen, Ltd.' is a subsidiary of Company. As at 31st Dec. 10,007 No. of equity shares out of 10,013 No. of equity shares of Rs 10/- each issued by subsidiary were held by Company.
- 164,732 No. of equity shares of Rs 100 each at a premium of Rs 850/- per share issued to the shareholders on rights basis.
1996 - 10,00,000 Pref. shares allotted on preferential basis.
1997 - The performance of pharmaceutical division was affected by Governmental basis imposed on scrip to pencillin formulation which affected the major brand of company.
- The Comp. introduced Nimegesic Gel an important topical item. The Comp. introduced Rorid liquid for paediatric use, a ready made suspension of Roxithromycin. The Comp. strengthened its position by introduction of Clarithro & basic manufacture of clarithromycin.
- The Comp. installed Peniccillin - Gas 600 m.m.u. per annum and Erythromycin 100 tpa. Also, a second line of extraction facility for erythromycin was installed.
- The Alembic Herbals veterinary, a new division of veterinary business was launched in June.
- The Comp. issued 10,00,000-16% redeemable non-convertible cumulative preference shares of Rs 100 each. These are redeemable at par on 11.2.1999.
- The Comp. has expanded its reach in the fastest growing analgesics and anti-inflammatory segment with the launch of new molecules Rofecoxib & Celecoxib.
2000 - The Comp. has launched Glycodin Activ Cold and Flu Tablets.
2001 - The Comp. has launched its version of sildenafil citrate, under the brand name `Asigra'. The pill for erectile dysfunction is in two dosage forms of 25 mg & 50 mg as against three by most of other players.
- The Comp. has launched a new OTC brand, Glycodin Activ cold & flu tablets.
2002
-Gujarat High court sanctions for merger of Bulk Drug unit of M/s Darshak Ltd with the company.
-Enters into an in-licensing pact with Euroresearch for introducing Gelfix Collagen dressing sponge pads in the country.
-Appoints Mr Nitin Jaywant as the President, Active Pharmaceutical Ingredients division.
-Floats a new division called 'SynX' to cater to patients suffering from condition called Syndrome X .
-Enters into a research pact with Chiron Corporation of US for contract research.
-Gets approval from DCGI to manufacture & market Cefetamet Pivoxil tablets.
-Ties up with Italian Pharma company, Euroresearch to bring its products to India.
2003
-Launches 4th generation injectable Cephalosporin Cefepime under the brand name of Cepime.
-Allots equity shares to the shareholders of M/s Darshak Ltd as per the scheme of demerger.
-Acquires brand & trade mark rights of obstretical care drug Yutopar from Solvay Pharmaceuticals BV, Netherlands.
-Launches new division for research & development services, BioArc Research Solutions.
-Forays into speciality therapeutics segment.
-Signs agreement with two MNC companies for R and D division.
-Lines up a rights issue of Rs.32.37crs.
-Alembic Limited has informed the Exchange that the Comp. has despatched the Offer Document & Composite application form to all the shareholders on December 22, 2003. The Rights Issue is going to open on December 30, 2003, the last date for receiving requests for split forms is January 13, 2004 & the Rights Issue will close on January 28, 2004.
-The comnpany raised Rs 10 crore by placing 90-day commercial paper [CPs] at 4.85 per cent with a mutual fund on March 8th.
-Alembic signs MoU with Xechem International
2005
- Launches a no-calorie sugar substitute, `Zero', on February 2, 2005.
2008
- Alembic Ltd has informed that the Comp. has acquired API manufacturing unit of Nirayu Pvt limited situated at Panelav, P.O. Tajpura, Taluka Halol, Dist. Panchmahals, Gujarat.
