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History of Rhone-Poulenc India Ltd.

1928

- The Comp. was incorporated at Calcutta as a private limited company under the name of May and Baker [Indias] Ltd., on 24th September under the Indian Companies Act, 1913. On 20th September 1979 Comp. was converted into a public limited company.

1956

- The Comp. changed its name to May and Baker [Indias] Pvt. Ltd., on 1st April.

- At the Bhandup factory, May and Baker Ltd., U.K., has been manufacturing basic drugs, pharmaceuticals, photographic specialities, agricultural formulations & laboratory chemicals. It was the first in India to manufacture Metronidozole & a wide range of sulpha drugs and antihistamines.

1979

- Towards the implementation of Research Bank of India's directives, the entire business & undertaking in India of May and Baker Ltd., U.K., were with effect from 1st January, 1975 trasferred to and vested in the Comp. as a going concern in terms of Scheme of Amalgamation sanctioned by Mumbai High Court by its Order dated 26th April.

- Under the Scheme of Amalgamation sanctioned by Mumbai High Court on 26th April, the total consideration payable to May and Baker Ltd., U.K., for acquisition of their business & undertaking in India with effect from 1st January, 1975 was Rs 6,75,81,232 to be satisfied as follows:

- [is] by issue & allotment of 17,50,000 No. of equity shares of Rs 10 each to May and Baker Ltd., U.K., without payment in cash,

- [iis] Rs 1,75,00,000 to be paid to May and Baker Ltd., U.K., in cash in 5 equal annual instalments the first installment to fall due after the expiry of 30 days.

- [iiis] Balance of Rs 3,25,91,232 to be remitted in cash to May and Baker Ltd., U.K., without interest & 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 Comp. 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 and 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 & UTI; 1,00,000 shares to GIC; 78,400 shares to employees of Comp. & 20,000 shares to business associatess]. 6,00,000 shares offered to the public in November 1979.

1983

- The Comp. 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 & 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 & 6,55,000 No. of equity shares were offered to the public.

1984

- The Comp. 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 [Indias] Ltd., which was purely a marketing company.

1988

- Three new products, namely, `EMTHROCIN', an antibiotic, `SECTRAL', a unique betablocker & `EMBESEL', an antacid were introduced in the market. Government had amended the Drugs [Price Controls] Order, 1987 and deleted certain drugs from price control.

1989

- The Company factory at Paithan was approved by Department of Health, Medicines Control Agency, U.K. for manufacture of tablets.

- `Rhone-Poulenc Chemicals [Indias] Ltd., became a subsidiary of the Company. This was formed exclusively to handle Group indenting business in India.

- In order to take the benefit of association with Rhone-Poulenc Ltd., the Comp. entered into Name Licence Agreement with Rhone-Poulenc S.A., France on 13th April. Hence, the name of the Company was changed from `May and Baker [Indias] Ltd.' to `Rhode-Poulenc [Indias] limited with effect from 30th March, 1990.

1990

- The Company plant & machinery, land & buildings were revalued as at 1st April, & the resultant surplus amounting to Rs. 46,18,61,000 was credited to revaluation reserve.

1991

- The Comp. introduced new products such as Profenid CR - Controlled Release Ketoprofen & Piflasyn - new generation Quinolone. The Company proposed to introduce new Macrolide - Rovamycin in tablet as well as suspension forms.

1992

- The Comp. introduced a macrolide antibiotic, spiramycin under the trade name 'Rovamycin'.

1993

- The Comp. introduced SECNIL, a revoluntionary anti-protozoal molecule. The Comp. also undertook to introduce new molecules developed through Rhone-Poulenc Rovers original research in the Indian market.

1994

- The Comp. introduced a new formulation viz Secnidazole 1 gm in the market. As new generation anti-malarial drug, a quinolone antibiotic, an antihistamine, & an anticancer drug one under registration.

1995

- The Comp. proposed to introduce a novel highly efficacious anti malarial drug in the near future.

1996

- The Comp. introduced Artemether, a novel highly efficacious antimalarial, the first of its kind for treatment of resistant malaria, under the brand name PALUTHER. The Comp. also introduced two major brands viz; MAYLOX - Antacid/Antiflatulent & DOLIPRANE - Antipyretic/Analgelic.

- A part of branded & generic pharmaceutical business of Max India limited was acquired by company, which will provide critical mass, particularly in anti-infective range & also address the paediatric segment. The generic business was launched in February 1997.

1997

- The Comp. introduced new formulations of Phensedyl D.M. & M&B cough syrup.

- The Comp. started refurbishment & modernisation of sterile and liquid facilities at Bhandup & also upgradation of Research & Development as well as Quality Assurance Laboratory. Technical assistance for entire refurbishing was extended to the Comp. by Rhone-Poulenc Rorer, France.

- The Comp. received renewal of recognition of Inhouse R&D unit from Dept. of Scientific & industrial research, Ministry of Science and Technology, Government of India for period upto 31st March, 2000.

1998

- The Comp. proposed to introduce formulations of branded Betalactum antibiotics & 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 Taj Mahal involving a total outlay of $2,36,000.

- Rhone Poulenc India [RPIs] is a 40 per cent subsidiary of Rhone Poulenc Rorer, France.

- The Comp. had successfully introduced new formulations of Phensedyl D M & M&B cough syrup.

1999

- The Comp. has launched five new products & four line extensions, including Nivaquine vials, Secnil & Gardenal, in different therapeutic groups.

2000

- Crisil has reaffirmed the P1+ [very strong with relatively higher standing within the categorys] rating assigned to the Rs 18-crore commercial paper programme of company.

- The Comp. has divested its shareholding of 10,000 No. of equity shares of Rs 10 each in Rhodia Chemicals India limited in favour of Albright and Wilson Chemicals India limited at a price of Rs 150 per share.