Neuland Laboratories Ltd

Neuland Laboratories Ltd

Set up in 1984 as a private limited company to manufacture bulk drugs Neuland Laboratories (NLL) is promoted by Davuluri Sucheth Rao. Neuland Drugs & Pharmaceuticals Pvt Ltd a company set up by the same promoters to manufacture bulk drugs was merged with NLL with effect from Apr.'92. NLL manufactures bulk drugs such as salbutamol sulphate terbutaline sulphate labetalol hydrochloride and ciprofloxacin. The Company came out with its initial public offering in Apr.'94 at a premium of Rs 35 aggregating Rs 5.69 cr to part-finance the capacity expansion to manufacture bulk drugs and to diversify its product-mix. The cost of the project as estimated by ICICI was Rs 15.7 cr.NLL's products are exported to more than 35 countries including Germany Italy Switzerland the UK and the Netherlands. The company is also negotiating with multinational companies for tying up supplies of Ranitidine Hydrochloride Form I and Salbutamol Sulphate.During the year 1999-2000 the company introduced Itraconazole an anti-fungal drug and Ipratropium Bromide an anti-asthmatic drug and the R & D has developed a process for manufacture of Oflaxacin for Regulatory Markets. The Pashamylaram unit has received USFDA approval for manufacturing of Rantidine Hydrochloride Form.Mirtrazapine an anti-depressive drug and Ramipril a cardiovascular drug were introduced during the year 2001.The installed capacities of Ciprofloxacin and Ranitidine were increased with Rs.650 lacs financial assisitance from IDBI.The Company commenced commercial production of Ramipril a cardiovascular drug for export to certain markets in 2002.The Company commenced commercial production of Citalopram Hydrobromide an anti depressant Pirbuterol Acetate a bronchodilator Levofloxacin an anti bacterial Levetiracetam an anti convulsant in 2003.A subsidiary company of Neuland Laboratories Ltd was incorporated on January 4 2007 in the State of Delaware USA with its principal office in Orange County California. During the year 2008-2009 Neuland Laboratories K.K. Japan was incorporated as a subsidiary of Company.During 2012-13 Company undertook a major reorganisation of businesses aimed at de-leveraging on one hand and on other hand narrowing the focus on core activities: APIs Intermediates and Contract Manufacturing. Consequently the Company divested its R&D activities by selling its Land and Building and some identified intellectual properties to Neuland Pharma Research Private Limited and its Peptides Research activities along with identified intellectual properties to Neuland Health Sciences Private Limited. It entered into a Joint Business Arrangement with API Corporation Japan a part of Mitsubishi Chemical for manufacturing and sale of APIs and Intermediates.During 2013-14 the Company enhanced its product bouquet by launching 5 more products. It also enhanced its development portfolio to 22 molecules/ APIs created for launch between 2013 and 2016. It opened new office in New Jersey provide them with quick support and coordinate in various business activities.In November 2016 the Board of Directors of the Company approved the Scheme of Amalgamation of Neuland Health Sciences Private Limited (Holding/ Parent Company) and Neuland Pharma Research Private Limited (fellow Subsidiary of the Holding Company) with the Company as April 1 2016 the Appointed Date of Scheme.The Company acquired multi product manufacturing facility Unit 3 with a capacity of about 197 kiloliters located at Gaddapotharam Village in Sanga Reddy District in December 2017.