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German RemediesHistory:German Remedies (GRL), a specialist in feminine healthcare, was promoted by four

German companies -- Boehringer, Schering, Asta Medica and Beecham. GRL was

incorporated in Nov.'49, as a private limited company under the name German Remedies

Pvt Ltd, the name was changed to German Remedies & Trading Company in Aug.'52.The trading department was closed in 1962 and the name was changed to German

Remedies Pvt Ltd. The company moved over from trading to manufacture of

pharmaceutical products in 1962. It became a public limited company in May '73. GRExports is a subsidiary of the company.

It manufactures antibiotics, pharmaceutical drugs, pharma chemicals, ointments, gel,powder, granules, liquids oral and injectibles. GRL focuses on high margin therapeutic

segments like female healthcare, respiratory care, gastroenterology, cardiovasculars,

oncology and diagnostics. It has a product portfolio of over 73 drugs. Four of its brands

depriphyllin, primoult-n and dulcolax rank amongst Indias's top 250 brands.

As a part of its growth strategy, a plant was set up at a cost of Rs 80 crores in Ponda, Goa

to manufacture Agiolax and Agiocur, herbal laxatives based on psyllium seeds whichMadaus had been hitherto importing from Goa. Madaus AG of Germany has also entered

in to a 20 year agreement with GRL to pick up the entire production from this unit for

export. In 1998-99, the company launched products such as Jonac suppositories,Adamon, Nivant, Plastic and Ursofalk 'GR'. These launches were in the area of

analgesics, nasal sprays and anti-hypertensives.

During 1999-2000, the company has launched new products like Progynova Tablets,

Noreta HRT Tablets, Salofalk 'GR' Tablets, Silimar Capsules and Dobixin (Anti-Cancer).

It has also formed a new dental division for marketing dental products of Degussa-Huls.

Recently, Cadila Healthcare, through its wholly-owned subsidiary, Recon Healthcare,

acquired a 27.7% stake in German Remedies from its promoter Asta Medica AG and

Heller Vermogensverwaltung Gmbh at a price of Rs 650 per share and aggregating Rs148.60 crore.

Cadila has entered into an agreement with Asta Medica to acquire (through a subsidiary)perpetual rights for five brands, viz. Deriphyllin, Paractol, Ildamen, Xipamid and Beta

Xipamid (estimated Indian sales of Rs 42.70 crore during the year ended March 2001) for

a consideration of Rs 52.60 crore. The licence for the largest brand, Deriphyllin, which is

aimed at respiratory indications, shall extend to 63 countries. DSP Merrill Lynch acted asM&A advisor to Cadila for the above transaction.In line with SEBI's regulations, Recon

and Cadila acting in concert made an open offer for another 20% stake at a price of Rs

650 per share. Subsequent to this effect Recon & Cadilla have acquired 6,33,647 equityshares of the Company through open market purchases on the Stock Exchanges. Cadila

has also decided to make an open offer to acquire 36,77,409 balance outstanding equity

shares of the Company from the shareholders at a price of Rs.300 per Share.

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During 2000-2001, the company launched new products like Buscopan Suppositories,

Jonac Suppositories, GR Alfa Capsules, Swellia Tablets, Dental Care Products, Salofalk

GR 500 mg Tablets, Fludara Injection and Bandhan Tablets. Starting from April,2002 thecompany focused mainly on Respicare Division an exclusive specialised respiratory

products for the management of asthma and COPD and is expected to yield major

revenue for 2002-03.

In the year 2003, the company amalgamated with Cadila Healthcare Ltd., and the

shareholders were allotted equity shares in the ratio of seven equity shares of CadilaHealthcare Ltd., for every four equity shares held in the company.

Reg address:

Shivsagar Estate A-Block

Dr A Besant Road Worli

Mumbai - 400018 - Maharashtra

Tel. 91-22-4935528/29

Fax. 91-22-4950327/4926457

germarem@vsnl.com

http://www.germanremedies.co.in

Profile

Group : Cadila

Sector : Pharmaceuticals

Industry : Pharmaceuticals - Indian - Formulations

Chairman : Pankaj R Patel

Auditors : K S Aiyar & CoSecretary : Rajesh Parte

Inc. Year : 1949

Inc. Date :

AGM Date : 26/09/2002

Financial Year : Mar

Book Closure : Sep