Shreya Life Sciences Pvt. Ltd. has acquired the domestic Ethical Marketing Division of Plethico Pharmaceuticals for a total consideration of Rs. 85 crore. The effective date for the take-over would be April 1, 2003.
The Domestic Ethical Pharma Division of Plethico Pharmaceuticals has a portfolio of 130 products with a strong presence in anti-bacterial, anti-malarial, anti-TB, cardiovascular and lifestyle therapeutic segments. Several of its brands like REZ-Q, REZIZ FORTE, MONTO, AMLOZ, CEBACT etc., rank among the leaders in their respective therapeutic segments.
The turnover of Plethico Pharma's Domestic Marketing Division for the year ended 31st March, 2003 would be approx. Rs. 110 crores and Shreya expects to grow this business to Rs. 140 crores in the first year after acquisition.
The Company's domestic marketing infrastructure includes the Sales & Marketing Management Organization at Mumbai, 9 sales depots and 1800 stockists covering all major districts and a field force of 700 sales personnel located all over India.
Shreya Life Sciences Pvt. Ltd. is the Indian vehicle of the Shreya Group (kindly see the background note). Shreya entered the Indian market through the acquisition of the Pharmaceutical Division of Rallis India Ltd., a Tata Enterprise in August, 2001. Shreya Life Sciences has made impressive progress since then. In addition to consolidating and building on the domestic pharmaceutical business acquired from Rallis (now christened Shreya Amadeus), it has built a growing export business as well.
Shreya Life Science is set to record a turnover of rs.1 25 crores for the year ending 31st March, 2003, of which approximately Rs. 70 crores would be by way of exports.
With this acquisition, Shreya's ORG ranking will go up to 40 and its field strength will increase to over 900 retailmen covering more than 200,000 doctors throughout the country.
For the year ending 31st March, 2004 Shreya Life Sciences has targeted a turnover of Rs. 350 crores. Promoted by Mr. Sujit Kumar Singh, the Shreya Group has grown form a one-man organization in 1995 to become a US$ 400 million (approx. Rs. 2000 crores) Pharmaceutical Group today, employing over 3700 people in Russia and India.
Shreya Corporation, headquartered in Moscow, is the 3rd largest pharmaceutical marketing and distribution company in the Russian Federation. It distributes 4500 products of over 200 global pharmaceutical companies and enjoys strategic partnerships with Aventis, Sanofi, Pliva, Pfizer, BMS, Merck, GSK, Ranbaxy, Unique, Dr. Reddy's, etc.
Shreya Corporation has a wide distribution network in Russia with over 34 regional offices and employs over 2500 people in Russia. The Company has registered a turnover of US $ 340.0 million from its pharmaceutical marketing and distribution business in 2002. It also runs a state-of-the-art Dialysis Centre in Moscow under the auspices of Government of Russia, with an annual Turnover of US $ 30 million.
The Shreya Group entered the Indian market in August 2001 with the acquisition of the Pharma Division of Rallis India Ltd thru its Indian arm, Shreya Life Sciences Pvt. Ltd.
Shreya Life Sciences has drawn up ambitious growth plans which includes both organic growth, as well as growth through acquisitions / joint ventures / co-marketing agreements / technology transfers etc.
The Shreya Group has also promoted a new company, Shreya Biotech Pvt. Ltd. that is a joint venture between the Shreya Group and SciTech, USA and SciGen, Inc. Singapore. This Company is setting up a major biotech project near Pune and the products to be taken up for manufacture are based on unique first of its type technologies.
The Shreya Group has a joint venture in Zimbabwe with Caps holdings, the number one pharmaceutical company in Zimbabwe. Caps Shreya has a strong presence in Sub-Saharan Africa notably South Africa, Zambia, Malawi, Botswana, Mozambique and Uganda.