ICRA retains Unichem's short term debt rating

The Investment Information and Credit Rating Agency (ICRA) has retained the A1 plus rating assigned to the Rs. 5 crore short- term debt (including commercial paper) programme of Unichem Laboratories (ULL), indicating highest safety in the short term.

The rating takes into account the enhanced therapeutic coverage of ULL, the consistently above-average operating performance achieved during the past three years and the strong financial position of the company.

Over the last three years, ULL has initiated major changes internally in order to meet the challenges of the product patent era after 2005. The company has completed a modernisation-cum- capacity expansion programme at its bulk drugs manufacturing facility at Roha while the modernisation of the formulations unit at Ghaziabad is in progress.

The setting up of an R&D laboratory in Mumbai is almost complete. ULL's units at Goa and Baddi, Himachal Pradesh, have received approvals from various international health agencies and the company is now in the process of obtaining similar approvals for its Roha facility. The company has registered over hundred products in various African and Asian countries and efforts are under way to get more products registered are under way. These initiatives would supplement its efforts to step up export sales.

Over the last three years, the company has successfully revamped its marketing team and increased the coverage of doctors prescribing its products.

The company has also set up a molecular generic division for more focussed marketing of generic formulations in both domestic and international markets. The launch of a number of new products and increased reach through larger field force helped the company achieve sustained growth in sales. Successful new product launches also led to enhanced therapeutic coverage and reduced dependence on older products of the company.

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Section  : Business
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