History of Novartis India Ltd.
1961
- The Comp. was incorporated on 5th January. The Comp. was registered on 13th December, 1947 under the name Ciba Pharma Pvt. Ltd., as a wholly owned subsidiary of Ciba Ltd., Basle, Switzerland to take over the trading business in pharmaceuticals from the parent company another Indian subsidiary, viz., Ciba [Indias] Ltd., the name of which was changed later to Ciba Dyes Pvt. Ltd., with effect from 1st March, 1948. Ciba Dyes Pvt. Ltd., was registered in India on 13th June, 1928 & was dealing in dyestuffs & pharmaceuticals.
- The name of Comp. was changed from Ciba Pharma Pvt. Ltd., to Ciba of India Ltd., with effect from 5th January, soon after the amalgamation of Ciba Dyes Pvt. Ltd., with the Comp. with effect from 31st December, 1960.
- The name of Comp. was again changed to Ciba-Geigy of India Ltd., with effect from 21st October, 1970. With effect from 1st January, 1983, the name of Comp. was changed from Ciba-Geigy of India Ltd., to Hindustan Ciba-Geigy Ltd., to reflect the forthcoming change in its status to that of Indian Comp. on eventual reduction of the foreign equity of 40%.
- From purely trading activities, the Comp. moved to the manufacture of pharmaceutical formulations. Then it undertook the manufacture of a large number of bulk drugs, many invovling both high technology and basic manufacture.
- The Comp. also diversified its activities by undertaking the basic manufacture of pesticides in a backward region in Goa. It also entered the export field by establishing a 100% export unit in Kandla Free Trade Zone.
- Technical know-how for manufacture of organic phosphates & Phospites & textile auxiliaries of Comp. which would be implemented in the near future was being supplied to the Comp. free of all charge by Ciba-Geigy, Basle, Switzerland.
- The Comp. holds a letter of intent for manufacture of EPN resins & submitted an application to the Government of India, seeking approval for foreign collaboration for project with Ciba-Geigy, Basle, Switzerland.
- The majority of products marketed by Comp. bear trade marks which are covered by Licensed User Agreements dated 14th October, 1971 [As modified by Agreement dated 14th August, 1974s], 5th February, 1975, 29th March, 1978, 5th March, 1981, 12th August, 1982 & 17th March, 1983 concluded between the Comp. & Ciba-Geigy, Basle, Switzerland.
1965
- 25,000 rights equity shares issued at par in proportion 1:2 on 9th July.
1966
- 2,50,000 bonus equity shares issued in proportion 10:3 on 17th October.
1971
- Pesticides are manufactured at the Company plant at Santa Monica, Goa. The pesticides manufactured by Comp. are used for the control of pests affecting cotton, rice, oilseeds, pulses, vegetables, fruit crops, etc. The Company marketing efforts are buttressed by the extension of services which it provides to the agriculturist.
- 1,62,500 bonus shares issued in proportion 1:2 on 18th October.
- Out of total shares issued till December 1971, 3,16,875 shares held by CIBA-GEIGY, limited Basle, Switzerland.
- Consumer products were manufactured by Comp. at its Bhandup plant. It also markets toothbrushes. Consumer products of Company are being marketed under the brand name 'BINACA'.
1975
- 1,30,000 Bonus shares issued in prop. 4:15 on 16.6.1975.
1977
- 3,08,750 bonus shares issued in prop. 1:2 on 14.11.1977.
1980
- 4,63,125 bonus shares issued in prop. 1:2 on 9.10.1980.
1982
- The Comp. entered into an Agreement dated 11th March, with Ciba-Geigy, Basle, Switzerland.
1983
- Ciba-Geigy, Ltd., Switzerland was permitted by Reserve Bank of India to disinvest 1,94,783 equity shares of Rs 100 each at a premium of Rs. 75 per share in favour of existing resident Indian equity shareholders. Accordingly, offers were made to the resident equity shareholders in terms of letter dated 12th February, 1985.
- The object of public issue of equity capital during July, was to dilute the foreign equity from 65% to 51%. The proceeds of issue were being utilised to finance the Company ongoing & future projects.
- 3,81,400 shares issued at a prem. of Rs 40 per share through a prospectus out of which the following shares were reserved and allotted: 28,330 shares to employees & working directors of the Company; 7,080 shares for business associates of Comp. & 27,250 shares to financial institutions [in equal prop. to LIC, GIC & UTIs]. The balance 3,18,740 shares offered for public subscription during July/August.
1985
- The Comp. was permitted by Ciba Geigy, Ltd., Switzerland to use their trade mark `CIBACA' for consumers products marketed by the Company. The trade mark 'BINACA' were permitted to be used for a transitional period upto the end of 1986.
- The epoxy resins marketed by Comp. under the brand name of 'Araldite' are required for a host of critical industrial applications ranging from anti-corrosion to India aerospace programme.
1988
- A new fomulation voveran SR - Sutained Release were successfully launched. New products, like Ridomil M272 WP for control of diseases affecting grapes & tobacco & Fasinex for control of flukes in cattle & sheep were introduced.
- A letter of intent for manufacture of 700 tonnes per annum of saturated polyester resins for powder coatings were received.
1989
- A letter of intent was received for manufacture of 1200 tons p.a. of speciality chemicals for detergents, dyes & textile industries. An agreement was reached with UCB S.A., Belgium, to manufacture saturated polyester resins locally.
- Another letter of intent was received for manufacture of anti-oxidants with the technical know-how to be provided by CIBA-GEIGY of Switzerland. The plant facilities at the agricultural chemicals division were being modernised.
1990
- The dyes & chemicals division consolidated its position in the field of leather chemicals with additional products in synthetic tanning agents & dyestuffs.
- The letter of Intent for manufacture of saturated polyester resins was converted into an industrial licence. A new plant for the manufacture of saturated polyester resins was proposed to be implemented shortly in technical collaboration with UCB, SA, Belgium.
- The Comp. made an offer to Citibank, NA, Mumbai for private placement of 10,00,000-14% non-convertible debentures of Rs. 100 each. The debentures would be redeemed at a premium of 5% in three equal instalments after expiry of 6th, 7th & 8th years from the date of allotment of debentures.
- 8,85,387 bonus shares issued in prop. 1:2.
1991
- The sales of consumer health care unit was affected due to the chloride controversy. During the year, the Cibaca lime gel tooth paste was test marketed. The agricultural division launched during December, APRON 35 WS, a seed dressing fungicide for control of diseases in bajra, sorghum, rapeseed etc.
- The saturated polyester resin unit in Goa was commissioned.
- The Comp. re-assesed the anti-oxidants project at Goa both from the point of view of devaluation of Rupee & the new import policy which had affected the business conditions to a large extent.
- The Company, issued 15.5% secured non-convertible debentures aggregating Rs. 1000 lakhs on private placement basis. These are redeemable at a premium of 5% in three equal instalments after six years from the date of allotment of debentures.
1992
- The new monocrotophos plant was commissioned at Santa Monica Works. The production activities at the Bhandup plant were suspended due to continued loss for last 10 years.
- The project to manufacture anti-oxidants at Goa were to be implemented in phases. During the year, diazinon based formulation which would be useful as a soil insecticide as well as for control of important pests in rice, cotton & vegetable crop was proposed to be launched.
1993
- During the year Cibaca Gel toothpaste was introduced. The Pharmaceutical division introduced Nitroderm-TTS which is used by angina patients. The performance of agricultural division was affected due to reduced import duty on pesticides & intermediates and reduction in excise duty on intermediates. This division was divided into Crop Protection & Animal Health division.
- The Comp. entered into a joint venture agreement with Ciba-Geigy Ltd., Switzerland & Chong Kun Dang Corporation, South Korean to establish a joint venture Comp. Ciba CKD Biochem Ltd to manufacture anti-Tuberculosis drug Rifampicin. The plant was to be set up at Mahad, Maharashtra with an installed capacity of 125 tonnes per annum. 1994
- Protexin & ESB 3, the new products were introduced.
- The new tinopal CBS-X plant was commissioned with a production capacity of 1000 tonnes per annum along with a state of art chemical waste incinerator plant.
1995 - The Comp. introduced three new products & two line extension. The Combi-Pack, 4D, which contain 4 essential drugs viz. Isoniazid, Rifampicin, Pyrazinamide & Ethambutol & Ebutol were launched. Besides these Regestrone HRT & PZA suspension were also introduced.
- Effective from 29th March, Ciba CKD Biochem limited became a subsidiary of the Company. The shareholders of Cibi-Geigy AG & Sandoz AG approved for merger of two companies to form a new company `Novartis'. Novartis would hold a premier position in its core business - Pharmaceuticals, agribusiness & Nutrition. It was also proposed to demerge the speciality chemicals business of Ciba. 1996
- The following new products were added during the year in the pharma division. [1s] Lamisil[Rs] - for treatment of fungal skin & nail infections. [2s] Leponex[Rs] - for schizopherenic patients non responsive to classical neuroleptics. [3s] Lioresal - an anti-spastic muscle relaxant in treatment of spastic conditions. [4s] Orfiz - an oral rehydration salt, a user friendly effervescent ORS tablet. [5s] Parlodel[Rs] - for infertility & gynaecological disorders. [6s] Voltaflam - a fast acting analgesic for acute painful conditions.
- During the year, the Comp. proposed to close down its undertaking at Kandla that was set up to cater exclusively to the export business in USSR.
- During December, approvals were reserved for restructuring business operations of Comp. by denerging. Approval was received for subdivision of company shares from existing Rs 100 per shares into 10 equity shares of Rs 10 each & for exchange of 15 Sandoz India Ltd. shares for 10 shares of Novartis India Ltd.
- The allotment of shares took place: 1. For every one original shares of Rs. 100 each held in Hindustan Ciba-Greigy limited on 4.11.1997, sharehodlers would received 5 shares of Rs 10 each in Ciba Geigy Speciality Chemicals [Indias] limited 2. For every one sub-divided shares of 10 held in Hindustan Ciba-Geigy limited on 4.11.1997 shareholders will secure 1 share of Rs 10 each in Novartis India limited 3. For every 15 shares held in Sandoz [Indias] limited on 23.10.1997, shareholder will receive 10 shares of Rs 10 each in Novartis India Ltd.
1997
- The Comp. introduced Topik, a speciality herbicide for wheat. While consolidating its presence in the metro markets, the company expanded its presence in additional towns & cities to extend its reach in the domestic market.
- The joint venture, Indo-Swiss Chemicals Ltd, will market polyester and celluloid dyes to be manufactured initially by IDI at its Kalyan and Ranoli plants in Maharashtra & Gujarat.
- Hindustan Ciba-Geigy has trimmed its labour force by 13 per cent and more workers are likely to accept the voluntary retirement scheme [VRSs] offered by company.
- The merger of Sandoz India [SILs] with Hindustan Ciba Geigy [HCGs] has taken a new turn even as the Indian affiliates of Ciba-Geigy and Sandoz, both based in Basle, Switzerland, have begun the integration process to form Novartis India.
- Walden, a US private equity fund, is picking up an equity stake in Ciba-CKD Biochem, a joint venture between Novartis, Switzerland, Hindustan Ciba-Geigy & Korean fermentation major Chong Kun Dang [CKDs].
- Hindustan Ciba Geigy & Sandoz [Indias] which are on the verge of merging formally to form Novartis [Indias] are in moves to transfer their combined development team to Novartis Enterprises Private Limited [NEPLs], a 100 per cent Indian subsidiary of Novartis AG, the Novartis parent company.
1998
- Novartis [Indias] pharmaceutical business is likely to get a bonus addition in November this year with the return to its portfolio of cough & cold preparation Triaminic.
- The board of Novartis India has approved transfer of company's 29.22 lakh [9.17 per cents] equity shares held by Ciba India Pvt Ltd in favour of Novartis AG of Switzerland.
1999
- Novartis India Ltd is close to finalising its first acquisition in India. The company, through its eyecare business, CibaVision, is buying an eyedrop brand called Clearine from Optrex Ltd, a part of the United Breweries group.
2000
- The Comp. has firmed up plans to spin off its agribusiness into a separate entity, Novartis Agribusiness India Pvt. Ltd.
- The Company shareholders are being offered one equity share of Rs 5 each in NAIPL for every one fully-paid equity share of Rs 5 held in Novartis India.
- Novartis India, the Indian subsidiary of Swiss pharma giant, has become a signatory to the Global Working Alliance on Tuberculosis drug development, paving way for its greater involvement in anti-TB drug research.
- The Compay has launched Calcium Sandoz as an over-the-counter product in India in two flavours, American Ice Cream & Orange.
2001
- The P1 + rating assigned to the Rs 50-crore CP programme of Novartis India Ltd is reaffirmed.
- Novartis India limited together with Ciba Speciality Chemicals India limited signed a letter of intent with Kingston Properties Private Ltd. for the sale of their rights & interests in their properties at Goregaon in Mumbai.
2002
- The Board of Directors of Novartis India Ltd announced changes in its composition effective November 01, 2002. Dr R Thompson who moves to a new assignment with Novartis USA, cases to be a Director. Mr R Sahani, CEO- Pharma will succeed Dr Thompson as Vice Chairman & Managing Director. Asha Mirchnandani Chief Financial Officer will be inducted on the Board as Executive Finance Director.
2003
-Novartis India Ltd has announced the appointment of Anil Matai as the Chief Executive Officer, Pharmaceuticals.
-Novartis India Ltd has unveiled Myfortic - an enteric-coated advanced formulation under the immunosuppresant category.
-Novartis announced it has changed its import currency to US Dollar from swis Franc.
-Completed formalities for transfer of its third plot of land situated at Goregaon, to Kingston Properties Private Ltd on receipt of consideration of Rs 171.07 million
2004
-Charak Pharma has inked an alliance with multinational pharma major Novartis India for promotion of three animal healthcare products from the Charak stable.
-The Switzerland-based Novartis Pharma AG has established a software development centre at Mumbai.
-Novartis establishes third plant in Mumbai
-Biocon R&D subsidiary, Syngene International, has announced that it has entered into a contract research agreement with Novartis' research & development arm, the Novartis Institutes for Biomedical Research Inc
-Novartis rolls out new spray 'Otrivin-O'
