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History of Neuland Laboratories Ltd.

Neuland Laboratories Limited, engaged in the manufacture of bulk drugs has been incorporated in 1984 as a private limited company. The Comp. has been promoted by Dr. D.R.Rao, Ph D. in Organic Chemistry from the University of Notre Dame, USA. The Comp. commenced operations in June 1986 at its plant at Bonthapally Village, Medak District, Andhra Pradesh with a capacity to manufacture 1.2 tonnes per annum [tpas] of Salbutamol sulphate, an anti asthmatic drug & its intermediates such as salbutamol base & bencyl salbutamol.

In 1990 the Comp. expanded its installed capacity for salbutamol sulphate & its intermediates to 9 tpa. In 1993, the Comp. completed a project for manufacture of 2.4 tpa of terbutaline sulphate [Terbutalines], an anti asthmatic drug, 3.6 tpa of labetalol hydrochloride [Labetalols], an anti hypertension drug & for further expanding the capacity of salbutamol sulphate to 18 tpa. The Comp. commenced manufacturing ciprofloxacin by utilising part of additional facilities created for salbutamol sulphate. The total project cost of Rs.346 lacs was financed by a rupee term loan of Rs.260 lacs from ICICI & cash accruals of Rs.86 lacs.

In 1994, the Comp. completed a project for further diversifying its bulk drug manufacture & set up a new plant at I.D.A. Pashamylaram, Medak district, Andhra Pradesh for manufacture of 1.5 tpa of enalapril maleate [Enalaprils], a cardio-vascular drug, 60 tpa of ranitidine hydrochloride [Ranitidines], an anti-ulcer drug & 66 tpa of Quinolones [such as Ciprofloxacin, Norfloxacin, Ofloxacin & Pefloxacins], a new generation of anti-bacterial drugs. The project cost of Rs.1570 lacs was financed by rupee term loans of Rs.600 lacs [ICICI - 400, SCICI - 200s], equity issue of Rs.870 lacs, state subsidy of Rs.15 lacs & cash accruals of Rs.85 lacs. The commercial production commenced in October 1994. Out of equity of Rs.870 lacs, Rs.570 lacs was offered to the public [at a premium of Rs.35/- per shares]. The issue was oversubscribed 70 times & the shares are listed on the Hyderabad & Bombay Stock Exchanges.

The Comp. has been granted quality system certification as per ISO 9002-9004, for its Plant at Bonthapally Village, for manufacture & supply of bulk drugs & intermediates.

The Comp. has well equipped Research and Development facilities at Bonthapally which has been recognised by Government of India. The company R&D department is headed by Dr. C. Sankar Rao who has over 31 years experience in drug & pharmaceutical R&D including 25 years in Indian Drugs & Pharmaceuticals limited [IDPLs].

The Comp. had entered into an agreement with Indian Institute of Chemical Technology [IICTs], Hyderabad for process know-how for manufacture of 2 of its products Ketorolac Tromethamine & Enalapril Maleate on 2nd December 1992.

Neuland Drugs and Pharmaceuticals Private Limited [NDPLs], a Comp. set up by promoters to manufacture bulk drugs, was incorporated in 1988 & merged with Neuland Laboratories Limited, with effect from April 1, 1992 as per the Scheme of Amalgamation approved by High Court of Andhra Pradesh on April 6, 1993. As per the scheme, one fully paid up equity share in Neuland Laboratories Limited was exchanged for every seven fully paid up equity shares held in NDPL ranking pari-passu with the existing shares of Neuland.