Fermenta Biotech Ltd Company Summary

Fermenta Biotech Ltd Summary

Promoted by a technocrat, D V K Raju, Duphar-Interfran (DIL) was incorporated in May 51 as International Franchises Pvt Ltd. In the initial years, the company manufactured and sold toothpaste, anti-septic lotion and pharmaceutical specialities on a loan-licence basis. It entered into collaborations with Philips-Duphar, Amsterdam (Solvay Duphar), and the Crookes Laboratories, London. These collaborators participated in the equity capital of the company to the extent of 25% each.The company changed its name to Crookes Interfran on 19 Apr.63. In 1964, it entered into a collaboration with Solvay Duphar to manufacture vitamin D3. To associate fully with its research-oriented collaborators, in May 71, it changed its name to Duphar-Interfran. In 1976, it entered into another collaboration with Solvay Duphar to manufacture isoxypurine hydrochloride -- a vasodilator. In 1976, in compliance with the FERA, the foreign collaborators reduced thier stake to 38.86%.DIL came out with a rights issue in May 95 to augment long-term resources and working capital requirements. The company also sold its popular analgesic brand Crocin to Smithkline Beecham Pharmaceuticals. It also sold another OTC brand, Lacto-Calamine lotion to Nicholas Piramal to concentrate on the core business of ethical drugs.As per the Scheme of Arrangement, the pharma business of the company has been transferred to a new company called Duphar Pharma India. The Company has made investments in unutilised premises at Thane to create a commercial complex with modern facilities so that substantial portion of it can be let out to earn income. The successful entry of Annual Contract with Solvay Pharmaceuticals B V of Netherlands will definitely establish as a reliable contract research organization for Duphar Interfran Ltd. As mutual consent with Solvay Pharmaceuticals,Netherlands,the company has been permitted to continue with the name DUPHAR for a limited time. It has also been decided to change the name to DIL Limited from Duphar-Interfran Ltd.With the prior approval from Board the company has acquired 990,000 equity shares of Rs.10 each in Fermenta Biotech Ltd there by increase its holding to 83.71% comprising 16,57,500 equity shares. Subsequent to this FBL will henceforth be a subsidiary of Duphar Interfran Ltd.In 2003, the Company expanded manufacturing capacity with Vitamin D and other products such as Phenyramidol at Kullu. During the year 2009-10, the Company carried out the Drug Discovery and Development Services through its subsidiaries, Evotec (India) Private Limited and its subsidiary Evotec-RSIL Limited up to August 31, 2009. Through the divestment of 70% equity shares by the Company in Evotec (India) Private Limited, Evotec (India) Private Limited and its subsidiary Evotec-RSIL Limited ceases to be subsidiaries of the Company with effect from September 01, 2009. New projects were undertaken with Bayer CropSciences, Novartis, Boehringer Ingelheim and Chugai. The Company commissioned a new manufacturing facility at Dahej SEZ, Gujarat during 2010-11. The Company executed a definitive agreements with a private equity investor in Mauritius, Evolvence India Life Sciences Fund LLC (EILSF) on December 10, 2010 for sale of 1,915,036 equity shares held by Company in FBL to EILSF and issue of an equal number of fresh equity shares by FBL to EILSF, for a total consideration of Rs. 40 crores, which was completed in Jan11. It launched new and improved Penicillin G Acylase catalyst - Fermase PA 850 in 2012.Agastya Films LLP and Zela Wellness Private Limited ceased to be joint venture entity and associate company w.e.f. January 01, 2019 and Novemeber 29, 2018 respectively. The Company in FY 2019-20, launched a new product, fish oil derived cholesterol, for the aquaculture market, it launched a new version of Vitamin D 500 feed grade powder in 2020. During the year 2019-20, the Scheme of Amalgamation between the Parent i.e. DIL Limited (DIL) and its subsidiary, Fermenta Biotech Limited (FBL) and their respective shareholders became effective from September 26, 2019, with the appointed date as April 01, 2018. Accordingly, the name of amalgamated company was changed from DIL Limited to Fermenta Biotech Limited effective on October 17, 2019. On September 5, 2019, the Companys subsidiary viz. Fermenta Biotech GmbH was incorporated in Germany. The Company incorporated a wholly-owned subsidiary in the United States of America viz. Fermenta Biotech USA LLC on May 27, 2020. In December 2020, Fermenta Biotech USA LLC, a wholly owned subsidiary of the Company, acquired 52% membership interest in AGD Nutrition, LLC (now known as Fermenta USA, LLC). During FY 2021-22, the Company launched Vitamin AD2 for oil fortification and also developed patented technology for enzymatic synthesis of Molnupiravir.