“SUCCESS STORY OF PANADEA BIOTECH ”

A business proposal report submitted to IIMT, Greater Noida as a partial

fulfillment of full time Post Graduate
Diploma in Management
(Business Management)

Submitted to: Submitted By:

The Chairman Anusha Srivastava (15084)
IIMT Gr Noida PGDBM(HR)
Batch-15th

ISHAN INSTITUTE OF MANAGEMENT AND TECHNOLOGY

1A, Knowledge Park-I, Greater Noida, Distt: G.B. NAGAR (U.P.)

Itbsite: www.ishanfamily.com, Email: ishan_corporate@yahoo.co.i

Logo of company:
 INTRODUCTION:

Panacea Biotec is India’s highly progressive research based health management

company involved in research, manufacturing and marketing of branded
pharmaceutical formulations, vaccines and natural products. The product portfolio
includes highly innovative prescription products in important therapeutic areas like
pain management, diabetes & cardiovascular management, renal disease
management, osteoporosis management, anti-tubercular, gastro-intestinal care
products and vaccines. The flagship brands of the company- Willgo for pain
management; Glizid & Glizid-M for diabetes; Panimun Bioral & Mycept for
kidney transplant occupy leadership positions in their therapeutic segments. This
is in persuit of marketing strategies to build brands and drive the growth of the
company.

The company has ultra modern, state-of-art production facilities at Baddi

(Himachal Pradesh), Larlu (Punjab) & Delhi for manufacturing tablets, capsules
(including soft gelatin), ointments (transgel formulation) liquids, herbal
formulations and vaccines. The facilities are WHO cGMP compliant.

Ardent Research and Development efforts have always been a great strength of
Panacea Biotec. The main research areas are New Chemical Entities (NCE), New
Biological Entities (NBE) Novel Drug Delivery System (NDDS) based
pharmaceutical formulations, Novel peptides & human monoclonal antibodies and
Vaccine development. The company has developed four distinguished, ultra
modern, state-of-art R&D centers in different locations, having internal capabilities
for constant research, with over 200 highly professional and skilled scientists
engaged in various aspects of research.

Focused research efforts have led to grant of worldwide product patents valid in
over 60 countries for Panacea Biotec. As on March, 2007, the company had filed
490 patent applications in various parts of the world including India. Of these, 163
have been granted patent and others are under various stages of examination or
publication by the patent authorities. Some of these countries are USA, U.K.,
France, Germany, Italy, Sweden, Denmark, Spain, Finland, Switzerland, The
Netherlands, New Zealand, Mexico, Brazil, Nigeria, Zimbabwe, Australia, South
Africa, Japan, Russia, Canada, Ukraine, Korea and China,.

Panacea Biotec has identified brand building in exports as its thrust area and it has
significant presence in the global markets including the CIS, Africa, the Middle
East and Asia. The company is actively exploring opportunities for launching as
well as licensing out some of our patented products for manufacture/marketing in
developed countries in Europe, North America and Latin America.

Panacea Biotec has significant collaborations and joint ventures with leading
national and international research organizations and corporations.

Vision and values:

Mission – Innovation in Support of Life

Vision – Leading Health Management Company

Goal – To meet every healthcare need with a Panacea Biotec brand and service

Objective – Take Ideas from Grey Cell to market in a Proactive Manner

Registered address –

Ambala-Chandigarh Highway, Lalru, Rajpura Punjab

140501

Tel: 01762-50590

Fax: 01762-505909 01762-505906

Email: investorgrievances@panaceabiotec.com

Website: http://www.panacea-biotec.com
MANAGEMENT:

Name Designation

Soshil Kumar Jain Chairman / Chair Person

Rajesh Jain Joint Managing Director

Sumit Jain Director

N N Khamitkar Independent Director

K M Lal Independent Director

Ravinder Jain Managing Director

Sandeep Jain Joint Managing Director

R L Narasimhan Independent Director

Sunil Kapoor Independent Director

A N Saksena Independent Director

Board of directors:

Whole-Time Directors (Promoters)

Mr. Soshil Kumar Jain, Chairman

Pursuing our mission 'Innovation in Support of Life' to make

human lives happier and healthier, we will continue to
remain rooted in our values of quality, innovation and
continuous learning

Email- soshiljain@panaceabiotec.com
 Mr. Ravinder Jain, Managing Director

Supporting life through better health management, not merely

the absence of disease, is our aim and in this we are partners in
Doctor's vision of a disease free world

Email- ravinderjain@panaceabiotec.com

Dr. Rajesh Jain, Joint Managing Director

An unwavering commitment to Brand building and

innovation has recognised Panacea Biotec to an amiable
position. 

We have embarked on a journey to Drug Discovery and Drug

Delivery through innovation to contribute towards a healthy living. 

We are poised to enter a period of great opportunity and face new challenges
with a pool of talent & expertise. 

Building brands in Domestic and International Marketing with leadership is highly

fascinating and a passion at Panacea Biotec.  It involves recognising that people all
over the world have different cultures and needs.  Understanding regional
differences and needs will make the quintessence of Marketing.  Panacea Biotec is
stepping up gears to exhibit exemplary performance in developing marketing
strategies across different regions of the World. 

If a day comes and there is a healthcare need, the need will be met by a Panacea
Biotec brand / service.

Email- rajeshjain@panaceabiotec.com

Mr. Sandeep Jain, Joint Managing Director

We have developed a powerful Finance Management
support platform, allowing us to gain greater insight into
various financial activities.  Our strong revenue growth will
help to turn business strategies into practical action plans. 
We look forward to achieve greater competitiveness, more profitability and
higher share values through innovation in Finance Management.

Email- sandeepjain@panaceabiotec.com

Mr. Sumit Jain, Director

Quality is among the most important reasons, which can

persuade a customer to buy a product. Consistent pursuit of Total
Quality Management, which I am proud to state, has always been
a cornerstone of Panacea Biotec and this pursuit has resulted in
achieving greater milestones in the past couple of years.

Email- sumitjain@panaceabiotec.com

History of company:

2008: Foray into Healthcare Delivery –collaboration to set-up 220 bed multi
super-specialty hospital in NCR

WHO prequalification for fully liquid innovative combination Pentavalent vaccine,

EasyFive* against five deadly infectious diseases (DTwP+ Hep B+ Hib) of early
childhood.

Granted a patent from US Patent & Trademark Office for our product Thank
GodTM (Euphorbia Prostrata) for effective management of hemorrhoids & piles
(Patent No. 7,371,412 B2)

2007: Vaccine Formulation Plant at Baddi

Research Agreement with Punjab University to develop New Chemical Entities for
Psychiatric Disorders

2006: WHO cGMP complaint ultra modern Pharmaceuticals formulation facility at

Baddi, Himachal Pradesh.

Landmark collaborations with The Netherlands Vaccine Institute (The Nederlands

Vaccin Instituut (NVI)) for manufacture & marketing of finished Inactivated Polio
Vaccine (IPV) and a number of IPV based combination vaccines in India and across
the globe.

Collaboration with PT.Bio Farma to manufacture & market Measles Vaccine.

Inauguration of Biopharmaceutical R&D Centre at New Delhi

Pre-Qualification Certification from WHO for Supply of Recombinant Hepatitis-B

Vaccine to UN Agencies.

Collaboration with National Research Development Corporation (NRDC) for

technology transfer of Foot and Mouth Vaccine.

2005: In-licensing agreement with National Institute of Health, USA for Hair
Growth Hormone

2004: Collaboration with Cambridge Bio-stability, UK, for Thermo Stable Vaccines

2004: Marketing Joint Venture with Chiron (now Novartis) Vaccines, UK

2004: In-licensing agreement with National Institute of Immunology, New Delhi,

for Japanese Encephalitis Candidate Vaccine

2002: Commissioning of Recombinant Vaccine Production Plant

2002: In-licensing Agreement with Biotechnology Consortium of India for

Development & Commercialization of Anthrax Vaccine

2001: R&D tie up with European MNC

1997: First Product Patent in Several Countries

1995: State -of the- art Drug Delivery R&D centre at Lalru

1995: IPO of Equity Shares of Rs.180 Million

1993: Merger of Panacea Drugs (P) Ltd. & Radicura Pharma to form Panacea
Biotec Ltd.

1989: Pharmaceutical formulations plant at New Delhi,under the name of

Panacea Drug P Ltd.

1988: Established a plant for vaccines production at New Delhi, under the name
of Radicura Pharma

1984: Panacea Drug (P) Ltd. was formed

PRODUCT:
Pharmaceutical Formulations

Panacea Biotec has engineered its sales and marketing network for
pharmaceutical formulations into strategic business units (SBUs), which comprise
Critical Care, Diacar, Procare and Growcare. The company has launched other
new SBU, viz. Oncotrust & Value India.

The aim of each SBU is to attain leadership position in its respective markets and
establish brand equity in respective therapeutic segment by implementing the
concept of Customer Relationship Management (CRM) for better coverage and
servicing of customers. The SBUs promote a portfolio of brands with a special
focus on Orthopedicians, Cardiologists, Diabetologists, Physicians, Nephrologists,
Pulmonologists, Surgeons, Dentists, ENT (Ear, Nose and Throat) specialists,
Pediatricians and Gastro-enterologists.

Special Programmes

Programme against HIV/AIDS

Programme against Tuberculosis

Programme against Lymphatic Filariasis

Critical Care

Critical Care, a Super Speciality SBU of the company, is focused on Nephrology

therapy in the highly specialized organ transplantation and dialysis management
segments. It offers a complete range of pre-transplant & post-transplant
therapies. The SBU has carved a niche in super-specialty segment and created a
scientific image. The SBU is rightly poised for achieving clear leadership in the
Nephrology &Transplantation segment.

Diacar

Diacar is the highest contributing SBU of the company with dedicated marketing
and sales infrastructure for Diabetes and Cardiovascular management. Diacar SBU
is valued at Rs.460 million (ORG IMS Mar’07 MAT). The SBU promotes the brands
to the target specialists viz. Endocrinologists, Diabetologists and Physicians in a
fiercely competitive scenario and has achieved significant leadership position in
Oral anti-diabetic segment.

Procare

Procare SBU of the company endeavors to consolidate and strengthen its image in
the field of chronic health care management with specific focus on pain and
arthritis management, osteoporosis and gastrointestinal disorders. It promotes a
portfolio of brands with special focus on Orthopedicians, Surgeons, Dentists, ENT
specialist & Gastroenterologist apart from Consulting Physician and General
Physician.

Growcare

Growcare is the respiratory and pediatric business of Panacea Biotec. This

business was carved out of the existing business of Panacea Biotec as part of the
long term strategy to enter the high growth Respiratory Therapy. Growcare is a
Rs.230 million business with total field strength of around 350 people and
services more than 50,000 doctors across the country, comprising of different
specialties like Chest Physicians, Consulting Physicians, Pediatricians and General
Physicians. 26 different SKUs are marketed with presence in multiple Therapy
areas.

Oncotrust

Panacea Biotec has plans to foray into oncology segment to provide treatment for
Cancer, viz, breast cancer, brain tumor, ovarian cancer, pancreatic cancer,
prostrate cancer and colorectal cancer. ‘ Oncotrust’ would be the new Strategic
Business Unit (SBU) with the total strength of around 50 sales specialists on
oncology who would be responsible for marketing these drugs. The aim to
register sales volumes of Rs. 150-200 million in oncology chemotherapy segment
in the next three years. The Company feels that it would be able to launch novel
drug delivery based anti-cancer drug in next 2-3 year period.

Value India Healthcare

Panacea Biotec is recognized in the pharma industry for its innovative approach.
Value India Healthcare is the recently launched initiative of PBL to take its
research based innovative products to the mass markets and provides them with
a unique “value for money” proposition in the offering.

Some of the innovative brands that are fast gaining acceptance include TwoWks,
patented product to treat 1st & 2nd degree piles, Combipunch, a first time in
India, DCGI approved formulation for allergic rhinitis and others.

VIH aims to provide a complete basket of products which a general practitioner

needs on a daily basis. The Value range of antibiotics, ValueCef, ValueOrni &
others , the pain range like Instanim, Nowaste Para, the respiratory range of
KofZero , KoldZero are all steadily gaining the mindshare of the Doctor.

ValueIndia currently operates in Rest of Maharashtra, Madhya Pradesh &

Chattisgarh regions with plans for expansion to other states shortly.

The vaccines portfolio consists of oral polio vaccines (type I and type III), Enivac-
HB (Hepatitis B vaccine), Enivac-HB Safsy, Ecovac-4 (DTwP+Hep B), Easyfour
(DTwP+Hib), Easyfive (DTwP+Hep B+Hib). Vaccines in the offing are- Anthrax,
Dengue, Japanese encephalitis and several others. Panacea Biotec has earned the
distinction of being a WHO pre-qualified supplier of oral polio and Hepatitis-B
vaccines and are in the process of obtaining similar pre-qualifications for other
vaccines. Panacea Biotec is contributing in disease prevention and reducing the
child mortality.

The exclusive products based on patented Drug Delivery System include

 Panimun Bioral (Cyclosporine),

 Willgo, ThankGod (for comprehensive management of haemorrohoids),
 Xeed (anti-tubercular FDC with innovative Drug Delivery for optimum
bioavailability of Rifampicin),
 Nimulid Safeinject,
 Nimulid MD,
 Nimulid Transgel

Nimulid Transgel, Safeinject, Willgo, Xeed are just a few technological

innovations. In the domestic market Panacea Biotec has an established brand
equity in branded pharmaceutical formulations including pain management,
cardiovascular disorders, diabetes management and organ transplant. Its leading
brands are amongst the top 5 positions in their respective therapeutic segments.
Its promising brands are amongst the top 200 brands in India with Glizid-M
ranking at 133 and Nimulid as a brand at 177 according to the secondary stockiest
audit by ORG IMS (MAT March, 2007).

Panacea Biotec has maintained highest standard of quality at all times. With a zeal
to offer the best products for ailing humanity, the Research team has developed
novel drug delivery systems to increase effectiveness, tolerability and compliance

Vaccines:

In pursuit of its mission, Panacea Biotec is making immense contribution in

disease prevention an reducing child mortality, through innovative vaccine
development, production and marketing. Panacea Biotec has significant presence
in prophylactic vaccine market that adhere to international standards of
manufacturing and clinical development. Panacea Biotec has made available
several paediatric vaccines, namely Trivalent, Monovalent (Type I and Type III)
Oral Polio Vaccine, Enivac HB (recombinant Hepatitis B) Vaccine, innovative
Combination Vaccines such as Ecovac4 (recombinant Hepatitis B and DTP),
Easyfour (Haemophilus Influenza type B (Hib) and DTP), Easyfive (Hib, DTP and
Hepatitis B). The Company has registered consistent growth in revenue which is
contributed by vaccines supplied to UNICEF as well as growth in supplies to the
domestic private vaccine market through the joint venture company, Chiron
Panacea Vaccines Pvt. Ltd.

RESEARCH AND DEVELOPMENT:

Innovation has been a great passion and priority for Panacea Biotec. Beginning
with a initial focus in 1995, Panacea Biotec has come a long way to establish a
cohesive network of five highly sophisticated ultra modern R&D centers. A team
of 283 professional and highly talented researchers are committed to pursue the
constant quest for innovation and therapeutic advancements

The core area of research & development includes Vaccine Development,

Biopharmaceuticals (big molecules), Drug Delivery projects and Drug Discovery
(small molecules), in compliance with international regulatory standards. The
company’s R&D centers are recognized by the Government’s Ministry of Science
and technology. For carrying out pre-clinical research, the company has an animal
house and facilities for undertaking in-vitro and in-vivo microbiology,
pharmacology, safety, efficacy and toxicology studies. Invigorative Research &
Development requires investment in time and money. To meet these
commitments, Panacea Biotec has been steadily increasing its expenditure on
innovative research. From initial capital R&D expenditure of 18.6 million (3% of
net turnover) in 1995 to Rs. 567.05 million (6.82% of net turnover) in fiscal 2007
bears testimony to exhibit its passion for innovation.
The increase in innovation expenditure is in line with its strategy to use it’s R&D
expertise to find novel therapies and drug delivery systems.

The company has also plans to further strengthen the R&D base to cater to more
profitable and expanding niches in vaccines and formulations segments, both in
domestic as well as international market.

Our investments in the field of innovation will provide access to breakthrough

technologies, products and service to promote health.

LAKSH Drug Discovery R&D Centre

The Company’s state – of – the art Research Center for development of New
Chemical Entities (small molecules) at Mohali, Punjab is spread over 70,000 Sq.ft.
of laboratory Space and employs more than 60 scientists. This R&D Centre has
capabilities to carry out work on different aspects of drug discovery which include
medical chemistry, in vitro and in vivo biology, analytical & bio-analytical
research, pharmacokinetics and drug metabolism studies. The focus of research is
on development of NCEs for the treatment of metabolic disorders, CNS and
infectious diseases.

SAMPANN Drug Delivery R&D Centre

The ultra modern & well equipped research facility, “SAMPANN Drug Delivery”
R&D Centre at Lalru, Punjab is spread across 40,000 sq.ft. of laboratory space with
superior infrastructure, specialized machinery, adequate resources and highly
talented scientists to conduct research in the areas of Pharmaceutical
Formulation Technology, Pharmacology, Analytical Chemistry, Medicinal
Chemistry and Natural Products. The said research facilities also boasts of an in-
house Intellectual Property Right Management Department and Information
Science Department.

SAMPANN Drug Delivery R&D Centre has demonstrated capabilities in research

on ready products and technologies in numerous drug delivery research areas like
Spatial Release System (Tablet-in-tablet and inlay tablet), Hydrophillic Matrix
System, Topical Transdermal Gel, Injectable System for Water Insoluble Drug,
Gastroretentive system, Self Emulsifying Drug Delivery System in Softgels,
Oromucoadhesive System, Orally Disintegrating System and Taste Masked
Delivery System. One of the major achievements has been the successful
prosecution by the IPR department leading to the grant of two important drug
delivery based patents in the USA.

The centre is primarily focused on:

Development of value added drug delivery products that would address unmet
medical needs, Increase patient convenience and compliance, augment the
intellectual capital of the organisation and contribute towards the organizational
business goals.

Ongoing Projects: SAMPANN R&D centre is developing products based on highly

specialized Drug Delivery, Self Nano – Emulsifying Injectable System, Depot
Injectable Preparations, Pulmonary Drug Delivery and Oral Controlled Release
Systems.

Identification and development of lead compounds from plant sources

A number of new lead compounds from plant sources have been identified and
are currently undergoing preclinical development.

Significant number of projects have been developed and cleared for

commercialization and 12 new provisional patent applications were filed during
the year under the review.

Vaccine and Biological Research Center

The quality, breadth and magnitude of vaccine and biological research centre
contributions are unrivalled. Situated in New Delhi, spread across 24,000 Sq.ft of
laboratory space, is dedicated to carry out extensive research in vaccines and
biologicals using genetic engineering, animal cell culture, fermentation,
purification, formulation, serology and analytical testing techniques. The centre
has more than 40 qualified and experienced biologists and biotechnologists
working on different fields of Vaccine R&D. Certain novel vaccines under
development at this centre are recombinant anthrax vaccine and cell culture
based Japanese Encephalitis (JE) etc. This centre is also working on some
breakthrough vaccines like thermostable pentavalent vaccine which would
eliminate the need for cold chain.

Biopharmaceutical R&D Center

The Biopharmaceutical R&D centre which became operational during the year
under review, undertakes biopharmaceutical research. This centre utilizes
molecular biology & genomics tools and has around 30 hard core molecular
biologists, immunologists. The center will develop novel preventive & therapeutic
vaccines, therapeutic peptides. The focus will include infectious diseases and
lifestyle related disorders.

It has also undertaken the development of a peptide-based technology for

alopecia (hair loss) management in-licensed from national Institute of Health, USA
and plans to initiate Phase I trials soon. The technology, which is patent
protected, stimulates hair growth and regenerates lost hair follicles.

Grand R&D Centre

On truly international standards Panacea Biotec’s 5th R&D centre “GRAND” is

coming up at Navi Mumbai. GRAND while supporting worldwide R&D activities
will reflect Panacea Biotec’s Leadership in Research & Development in the field of
Cancer, Airway, GI, CNS & CVS diseases.

The GRAND will work at the intersection of Biological Sciences, Clinical Sciences,
Pharmaceutical Sciences to develop Novel Drug Delivery Systems based products
to respond to the changing needs of medical professional.
 MARKETING :
Panacea Biotec has established a countrywide sales and marketing network in
India through a vibrant sales force of more than 1,000 professionally trained and
highly motivated marketing and sales professionals and efficient logistic network
of 23 sales depots/carrying and forwarding agents all over India to make its
produc

ts available at all places and at all times.

 Commencing fiscal 2008, the company plans for international marketing of

novel NDDS based pharmaceutical formulation products to the
international markets, like USA, U.K., Germany, France, Latin American
countries and Italy through marketing collaborations and are on the look
out for partners for distribution & marketing
 To tap newer opportunities, Panacea Biotec has organized its formulation
marketing into four SBUs - PRO, Diacar, GROW and Critical Care, which
enables it to respond to changes in the industry and marketplace.
 The vaccines are marketed through Chiron Panacea Vaccines, a 50:50 joint
venture with Novartis Vaccines, U.K

Sales & marketing in domestic market

Panacea Biotec has engineered its sales and marketing network for
pharmaceutical formulations into strategic business units (SBUs), which comprise
Critical Care, Diacar, Procare and Growcare. The company has also moved ahead
to launch other new SBU, viz. Onctrust & Value India.

The aim of each SBU is to attain leadership position in its respective markets and
establish brand equity in respective therapeutic segment by implementing the
concept of Customer Relation Management (CRM) for better coverage and
servicing of customers. The SBUs promote a portfolio of brands with a special
focus on Orthopedicians, Cardiologists, Diabetologists, Physicians, Nephrologists,
Pulmonologists, Surgeons, Dentists, ENT (Ear, Nose and Throat) specialists,
Pediatricians and Gastro – Enterologists.

Critical Care

Critical Care, a Super Speciality SBU of the company, is focused on Nephrology

therapy in the highly specialized organ transplantation and dialysis management
segments. It offers a complete range of pre- transplant & post transplant
therapies. The SBU has carved a niche in super – specialty segment and created a
scientific image. The SBU is rightly poised for achieving clear leadership in the
Nephrology & Transplantation segment.

The brand portfolio of this SBU includes Panimun Bioral capsules & solution,
Mycept tablets & capsules, Pangraf capsules, Fosbait tablets & Overcome
injection.

We have launched Siropan an adjunct immunosuppressive agent to fulfill the

transplant basket. Similarly Mycept saw its brand extension Mycept –S introduced
to have a complete MPA basket with increased market share.

The SBU has exhibited over 20% growth during the year. Pangraf continues to be
the leading brand in Tacrolimus market with 68% growth. Similarly Panimun
Bioral also showed a growth of 7% in Cyclosporine market. Mycept achieved 6%
growth and grabbed 32% market share in the Mycophenolic Acid market. Fosbait
being the 1st brand of Lanthanum Carbonate to be launched in India achieved 6%
market share in the Phosphate binder market & showed significant growth.
Overcom ensured strong presence in the Dialysis Centres with 26% growth.

Diacar

Diacar is a strong pillar and the highest contributing SBU of the company with
dedicated marketing and sales infrastructure for Diabetes and cardiovascular
management. Diacar SBU is valued at Rs. 460 million (ORG IMS Mar’07 MAT). The
SBU promoters the brands to the target specialists viz. Endocrinologists,
Diabetologists and Physicians in a fiercely competitive scenario and has achieved
significant leadership position in Oral anti-diabetic segment.
The flagship brand of the SBU Glizid M is the no.1 brand while Glizid is the no.2
brand in their respective categories. Glizid M occupies the 133rd position
amongst 30,000 odd pharmaceutical brands.

The other brand portfolio of this SBU includes Pioryl, Betaglim M, Metalong, Oglo,
Gliben Total, Glizid total, Glim total, Threpo, Myelogen Forte, Lower A and Lower
EZ.

New Launches… contributor to growth: The SBU has aggressively forayed into the
intensely spirited cardiac segment with the launch of Threpo (triple fixed Dose
Combination of Atorvastain, Ramipril and Asprin) and lower family of brands
intended to lower high cholesterol levels. Inrica and Myelogen Forte ( a first time
in country formulation with Enzogenol) and metlong P (FDC of Metformin ER and
Pioglitazone) were launched during the year under review. Total, family of brands
launched towards the end of FY 06-07 are gearing up and are well poised for
growth.

Overall Diacar SBU has grown over 28% in the year under review. The Power
group of brands has achieved high growth in this financial year with Betaglim
family at 84%, Metalog family at 84%, Metalog family at 33% and Glizid MR at
22% (March YTD). Star Brands i.e Glizid and Glizid M have grown by 9% in FY 06-
07.

Procare

Procare SBU of the company endeavors to consolidate and strengthen its image in
the field of chronic health care management with specific focus on pain and
arthritis management, osteoporosis and gastrointestinal disorders. It promotes a
portfolio of brands with special focus on Orthopedicians, Surgeons, Dentists, ENT
specialists & Gastroenterologists apart from Consulting Physicians and General
Physicians.

Some of the major brands of Procare across different therapeutic segments are:

Pain management: Nimulid, Nimulid Nugel, Nimulid Safeinject, Willgo, Nimulid SP,
Nimulid MR, Nimulid HF, Softdiclo, Softdiclo Acute and Dolzero.
Anti – infective - Giro and Ocimix

Gastro-intestinals - Livoluk Suspension and ODpep

Anti-Osteoporosis - Alphadol, Alpadol C, Calcom and Kingcal

Anti – rheumatics - Kondro OD, Kondro and Cilamin

Growcare

Growcare is the respiratory and pediatric business of Panacea Biotec. This

business was carved out to this SBU as part of the long term strategy to enter the
high growth Respiratory Therapy. Growcare is a Rs. 230 million business with total
field strength of around 350 people and services more than 50,000 doctors across
the country, comprising of different specialties like Chest Physicians, Consulting
Physicians, Pediatricians and General Physicians. Consulting Physicians,
Pediatricians and General Physicians. Twenty Six different products are marketed
with presence in multiple Therapy areas.

Some of the popular brands of Grow care are:

Anti TB - Xeed 2, Xeed 3E & Xeed 4 tablets (Fixed dose combinatios), Myser and
Myobid

Pain Management - Nimulid MD, Nimulid MD Kid (mouth dissolving) tablets &
Nimulid Suspension, Nimulid Trangel, Upright, Upright SP and Upright MR

Cough preparations - Toff MD, Toff DC and Toff Expectorant

Anti-haemmorohidal - ThankGod Capsules and ThankGod Cream

The SBU achieved annual growth of 39%. The performance was driven by flagship
brand Nimulid MD which clocked sale of Rs. 60 million and registered a growth of
30%. Brands like ThankGod contributed significantly to the SBU performance. As
per ORG IMS metrics the SBU has been outperforming the market.

Oncotrust
Panacea Biotec has plans to foray into oncology segment to provide treatment for
Cancer, viz, breast cancer, brain tumor, ovarian cancer, pancreatic cancer, prostrate
cancer and colorectal cancer. ‘Oncotrust’ would be the new Strategic Business
Unit (SBU) with the total strength of around 50 sales specialists on oncology who
would be responsible for marketing these drugs. The aim is to register sales
volumes of Rs. 150-200 million in oncology chemotherapy segment in the next
three years. The Company feels that it would be able to launch novel drug delivery
based anti-cancer drug in the next 2-3 year period.

Value India Healthcare

Panacea Biotec is recognized in the pharma industry for its innovative approach.
Value India Healthcare is the recently launched initiative of PBL to take its
research based innovative products to the mass markets and provides them with a
unique “value for money” proposition in the offering.

Some of the innovative brands that are fast gaining acceptance include TwoWks,
patented product to treat 1st & 2nd degree piles, Combipunch, a first time in India,
DCGI approved formulation for allergic rhinitis and others.

VIH aims to provide a complete basket of products which a general practitioner

needs on a daily basis. The Value range of antibiotics, ValueCef, ValueOrni &
others , the pain range like Instanim, Nowaste Para, the respiratory range of
KofZero , KoldZero are all steadily gaining the mindshare of the Doctor.

ValueIndia currently operates in Rest of Maharashtra, Madhya Pradesh &

Chattisgarh regions with plans for expansion to other states shortly.

ALLIANCES

Panacea Biotec enjoys a rich tradition of collaborations and joint ventures with
various industry players and business relationships with national & international
research institutes, academic universities and commercial corporations for the
purpose of securing in-licensing, out sourcing and other business opportunities
and to develop strong product portfolio.
Umkal Medical Institute Pvt. Ltd. (UMI)

The company has acquired majority stake in Umkal Medical Institute Pvt. Ltd.
(UMI), a company promoted by Dr. Umesh Gupta to set-up a multi super-specialty
hospital with the most modern equipment in the National Capital Region of Delhi
at Gurgaon.

Nederlands Vaccine Institute (NVI), Netherlands.

The Company has entered into an agreement with NVI for manufacturing and
marketing of Inactivated Polio Vaccine in global markets except Netherlands,
Denmark, Norway and Finland.

National Research Development Corporation (NRDC), India.

The Company has an in-licensing arrangement with NRDC for manufacturing the
Foot and Mouth Disease (FMD) vaccine developed by Indian Veterinary Research
Institute (IVRI).

PT Bio Farma, Indonesia.

The Company has entered into an agreement with PT. Bio Farma, Indonesia to
manufacture & market the Measles Vaccine and plans to supply the vaccine to
UNICEF, PAHO and CIS, African, LATAM and Asian Countries in furtherance to
Global Measles Reduction Strategy of WHO and UNICEF.

Chiron Panacea Vaccines Pvt. Ltd. (“Chiron Panacea”)

Chiron Panacea is a joint venture company incorporated in fiscal 2005 in India

with Chiron Corporation, U.K. (now Novartis Vaccines), world’s 5th largest Vaccine
group, for marketing of combination and other vaccines in India. The Company
has invested Rs.22.9 million in Chiron Panacea for a 50.0% equity stake.

National Institute of Health, USA.

The Company has an in-licensing arrangement with National Institute of Health,

USA, for use of a peptide based product for generation of hair follicles and hair
growth. Pre-clinical toxicology studies will be shortly initiated.
National Institute of Immunology, India.

The Company has an exclusive ten-year license agreement with National Institute
of Immunology, India for in-licensing of technology and processes for production
of tissue culture derived formalin inactivated, Japanese encephalitis vaccine. The
technology transfer and training of scientists has been completed and scale-up
production for clinical trial purposes and optimization of various analytical and
biological test methods, is under progress.

Cambridge Biostability Ltd., U.K.

The Company has an existing collaboration with Cambridge Biostability Ltd. (CBL),
a U.K. based Company for developing thermostable vaccines applying CBL’s
patented ‘Stable Liquid Technology’ over the Company’s existing range of
vaccines. During the year under review, the Company entered into a joint venture
and made investment of Rs.168.07 Million (£1.94 Million) for acquiring 10% of the
share capital in CBL. CBL was formed in 1998 in England & Wales and has a R&D
facility in Cambridge, which is developing its technology for applications in
developing countries, Biodefence and multivalent vaccines for sale in developed
countries.

Biotech Consortium India Ltd.

The Company has a ten-year in-licensing arrangement with Biotech Consortium

India Ltd. for the development, manufacture and marketing of anthrax vaccine
developed by Jawahar Lal Nehru University, India. Phase I/IIa of human trials have
been successfully completed and the Phase-IIb clinical trials are to begin shortly,
subsequent to which the company plan to supply the anthrax vaccine to the U.S.
government. For this purpose, the Company plans to initiate discussion with a
U.S. based vaccine company for collaboration.

Marketing strategy:

It is focused on increasing the momentum in the generics business in its key

markets through organic and inorganic growth routes. Growth is well spread
across geographies with focus on developed and emerging markets. It is the
Company’s constant endeavour to provide a wide basket of generic and innovator
products, leveraging the unique Hybrid Business Model with Daiichi Sankyo. The
Company will also increasingly focus in high growth potential segments like
Vaccines and Biogenerics. These new areas will add significant depth to the
existing product pipeline

CORPORATE GOVERNANCE:

A good Corporate Governance systemis the key tomeaningful and holistic growth
of an organization and the foundation through which is nurtured its sustainable
progress into the future.

At Panacea Biotec, good Corporate Governance process includes independence,

integrity, commitment to values, ethical business conduct and a high degree of
transparency directing the intellectual capabilities andmoral authority of its
independent Board.

1. Information supplied to board of director:

 Annual operating plans and budgets and any updates.

 Capital budgets and any updates.
 Quarterly results for the company and its operating divisions or business
segments.
 Minutes of meetings of audit committee and other committees of the
Board.
 The information on recruitment and remuneration of senior officers just
below the Board level, including
 appointment or removal of Chief Financial Officer and the Company
Secretary.
 Show cause, demand, prosecution notices and penalty notices which are
materially important.
  Fatal or serious accidents, dangerous occurrences, any material effluent or
pollution problems.
 Anymaterial default in financial obligations to and by the company, or
substantial non-payment for goods sold by the company.
 Any issue, which involves possible public or product liability claims of
substantial nature, including any
 judgment or order which may have passed strictures on the conduct of the
company or taken an adverse view
 regarding another enterprise that can have negative implications on the
company.
 Details of any joint venture or collaboration agreement.
 Transactions that involve substantial payment towards goodwill, brand
equity or intellectual property.

2. AUDIT COMMITTEE

Composition & Terms of Reference The Audit Committee of the Company has
been constituted as per Section 292A of the Companies Act, 1956 and the

guidelines set out in the Listing Agreements with the Stock Exchanges. The Audit
Committee of the Company comprises three non-executive directors, all of them
being independent Directors viz. Mr. R.L. Narasimhan, Mr. N.N. Khamitkar and
Mr. Sunil Kapoor. Mr. R.L. Narasimhan is the Chairman of the Committee. All the
members are financially literate and one 68 member is having requisite
accounting and financial management expertise.

Review of information by Audit Committee

Apart from other matters, as per Clause 49 of the Listing Agreement the Audit
Committee reviewed, to the extent applicable, the following information:

 Management discussion and analysis of financial condition and results of

operations;
 Statement of significant transactions, submitted by the Management;
  Management letters/letters of internal control weakness issued by
statutory auditors;
 Internal Audit Reports relating to internal control

3. REMUNERATION COMMITTEE

 Remuneration Committee comprises three non-executive Independent

Directors viz. Mr. R.L. Narasimhan, Mr. N.N Khamitkar and Mr. Sunil
Kapoor. Mr. R.L. Narasimhan is the Chairman of the Committee. The
Company Secretary is acting as the Secretary to the Remuneration
Committee.
 The key components of the Company’s Remuneration Policy are:

Compensation will be a major driver of performance; Compensation will

be competitive and bench marked with a select group of companies fromthe
pharmaceutical sector; Compensation will be fully transparent and tax compliant.

Remuneration paid to executive directors:

SI. Name Salary Allowances Perquisites Total

1. Mr. Soshil Kumar Jain 144.00 6.46 3.16 153.62

2. Mr. Ravinder Jain 144.00 6.46 48.26 198.72

3. Dr. Rajesh Jain 120.00 5.38 5.34 130.72

4. Mr. Sandeep Jain 120.00 5.38 4.30 129.68

5. Mr. Sumit Jain 27.00 1.21 5.87 34.08

Remuneration for non-executive directors

Sl. No. Name Allowances Sitting Fees Total

1. Mr. R.L. Narasimhan 1.86 1.05 2.91

2. Mr. N.N. Khamitkar 1.86 0.95 2.81

 3. Mr. Sunil Kapoor 1.86 0.85 2.71

4. Mr. Gurmeet Singh - 0.50 0.50

5. Mr. K.M. Lal 1.86 0.50 2.36

6. Dr. A.N. Saksena 1.86 1.00 2.86

4. SHARE TRANSFER CUM INVESTORS’ GRIEVANCE COMMITTEE:

Composition

The Share Transfer-cum-Investors’ Grievance Committee comprises three

Directors viz. Dr. A.N. Saksena, Mr. Ravinder Jain and Mr. Gurmeet Singh. Dr A.N.
Saksena, an independent non-executive Director acts as Chairman of the
Committee.

Sl. Name Designation Category of No. of No. of

directorship . Meetings held Meetings

1. Dr. A. N. Saksena Member Chairman 12 12

2. Mr. Ravinder Jain Member Promoter Director 12 10

3. Mr. Gurmeet Singh Member Independent Director 12 10

5. General board meeting

Financial Date Time Venue Special Resolution passed

year
2008-09 25.09.09 11:00 A.M Regd. Office at • Approval for protection of
ambala Remuneration paid to Mr. Soshil
Chandigarh Chandigarh Highway, Kumar Jain,
high way, lalru Chairman, for the financial year
 140501, 2008-09.
Punjab • Approval for protection of
Remuneration paid to
Mr. Ravinder Jain, Managing
Director, for the financial
year 2008-09.
• Approval for protection of
Remuneration paid to Dr. Rajesh
Jain, JointManaging Director, for the
financial year 2008-09.
• Approval for protection of
Remuneration paid to
Mr. Sandeep Jain, Joint Managing
Director, for the financial
year 2008-09.

2007-08 27.09.08 11:00 AM - do- • No Special Resolution was passed.

2006-07 29.09.07 10:30 A.M -do- • Approval for promotion of Mr.

Shagun Jain, as Deputy
General Manager Systems and
increase in remuneration
w.e.f. 1st April 2007 under section
314 of the Companies Act,
1956(“Act”).
• Approval for promotion of Mrs.
Radhika Jain as Sr. Manager
w.e.f 1st April 2007 under section
314 of the Act.
• Approval for increase in
remuneration to Ms. Shilpy Jain, as
Manager- Food & Beverages, under
section 314 of the Act

6. Means of Communication:
i) The Quarterly and Half-Yearly results are published in one or more of the
prominent daily newspapers, viz. Business Standard, All editions, New Delhi,
Chandigarh, Lucknow, Kolkata, Pune, Kochi, Mumbai; Ahmedabad, Bangalore,

Bhuwaneshwar, Hyderabad, Chennai and Financial Express, all editions Delhi,

Mumbai, Ahmedabad, Bangalore, Chandigarh, Hyderabad, Lucknow, Kolkata,
Pune, Kochi, Chennai and in Punjabi Tribune, Chandigarh, the local newspaper
published in the language of the region in which Registered Office is situated.

ii) The Company also intimates the Stock Exchanges all price sensitive matters or
such matters which, in its opinion, are material and of relevance to the
shareholders, and subsequently issues a Press Release on the matter, wherever

necessary.

iii) The Annual Results (Annual Report containing Balance Sheet etc.) are posted
to every shareholder of the Company.

iv) The Company’s web-site, viz. www.panaceabiotec.com, is regularly updated

with the financial results, annual report and other important events.

v) As per the requirements, pursuant to clause 51 of the listing agreement,

financial information like annual and quarterly financial statements, segment-wise
results, shareholding pattern and annual report weremade available on SEBI’s
website www.sebiedifar.nic.in.

vi) Management’s Discussion and Analysis Report has been included in the Annual
Report being sent to the shareholders of the Company.

7.General share holder information:

i) Date of AGM

The Annual General Meeting is proposed to be held on Saturday, the 25th day of
September, 2010, at 11:00 A.M. at the registered office of the Company at
Ambala-Chandigarh Highway, Lalru - 140501, Punjab.
Posting of Annual Report On or before 1st September, 2010 Last date of receipt of
23rd September, 2010 before Proxy Form 11.00 A.M.

ii) Date of Book Closure

The Share Transfer Books and Register of Members of the Company will remain
closed from 20th September, 2010 to 25th September, 2010 (both days inclusive).

iii) Dividend Payment Date

a) The Company will pay dividend, if declared by themembers in the forthcoming

Annual General Meeting, on or before 24th day of October, 2010:

- to thosemembers whose names appear in the Register of Members of the

Company as on 25th September, 2010, after giving effect to all valid transfer of
shares in physical form lodged with the Company on or before 20 th September,
2010 and registered before 25th September, 2010.

FINANCIAL STATEMENT

Profit and loss account:

Mar o6 mar 07 mar 08 mar09 mar10

Income

Sales Turnover 548.69 842.95 837.00 779.49 885.16

Excise Duty 11.62 8.45 3.78 1.88 0.80

Net Sales 537.07 834.50 833.22 777.61 884.36

Other Income 5.98 26.46 18.02 -50.82 93.49

Stock Adjustments -0.30 -11.76 -2.18 44.69 51.48

Total Income 542.75 849.20 849.06 771.48 1,029.33

Expenditure

Raw Materials 268.26 378.29 368.27 316.58 525.86

Power & Fuel Cost 6.13 9.41 9.69 11.22 13.04

Employee Cost 42.97 78.80 92.49 91.61 99.02

Other Manufacturing Expenses 4.19 4.54 4.45 7.96 2.22

Selling and Admin Expenses 84.00 115.30 138.57 163.69 0.00

Miscellaneous Expenses 9.42 12.17 12.40 184.19 179.75

Preoperative Exp Capitalised 0.00 0.00 0.00 0.00 0.00

Total Expenses 414.97 598.51 625.87 775.25 819.89

Mar
Mar '07 Mar '08 Mar '09 Mar '10
'06

12
12 mths 12 mths 12 mths 12 mths
mths

Operating Profit 121.80 224.23 205.17 47.05 115.95

PBDIT 127.78 250.69 223.19 -3.77 209.44

Interest 13.33 17.04 15.01 34.74 42.34

PBDT 114.45 233.65 208.18 -38.51 167.10

Depreciation 13.92 24.52 29.87 53.61 48.86

Other Written Off 0.48 0.26 0.17 0.17 0.17

Profit Before Tax 100.05 208.87 178.14 -92.29 118.07

Extra-ordinary items 0.14 0.23 12.32 0.00 -0.07

PBT (Post Extra-ord Items) 100.19 209.10 190.46 -92.29 118.00

Tax 39.24 62.29 57.30 -23.23 37.99

Reported Net Profit 60.94 146.81 133.17 -69.05 80.02

Total Value Addition 146.72 220.22 257.61 458.66 294.02

Preference Dividend 4.07 2.04 0.00 0.00 0.00

Equity Dividend 5.71 6.57 6.67 0.00 1.67

Corporate Dividend Tax 1.37 1.40 1.13 0.00 0.28

Per share data (annualised)
Shares in issue (lakhs) 570.77 656.82 666.94 666.94 668.43

Earning Per Share (Rs) 9.96 22.04 19.97 -10.35 11.97

Equity Dividend (%) 100.00 100.00 100.00 0.00 25.00

Book Value (Rs) 28.09 82.08 104.54 90.80 104.45

Final statement

(Rs. in million)

Particulars For the For the

year ended year ended

March 31,2010 March 31,2010

NetTurnover 8,843.7 7,734.2

Other Income 934.9 259.7

Total Income 9,778.6 7,993.9

Profit before Interest,

Depreciation, Exceptional

items &Tax (EBITDA) 1,506.0 2,444.6

Financial Expenses 423.4 347.4

Depreciation 664.5 705.1

Unrealized Foreign Exchange

Fluctuation Loss - 1,750.7

Profit/(Loss) before

Exceptional items &Tax 1,180.8 (639.5)

Exceptional Item - 284.2

Profit/(Loss) before Tax (PBT) 1,180.8 (923.7)

Provision for Taxation (380.6) (233.2)

Profit/(Loss) after Tax (PAT) 800.2 (690.5)

Dividend proposed on

Equity Shares - 16.7

Tax on Dividend - 2.8

Transfer to General Reserve 80.0 -

Balance in Profit & Loss Account 2,855.8 2,155.2

Basic EPS (Rs.)* 12.0 (10.3)

Cash EPS (Rs.)* 31.1 30.0

BookValue per Share (Rs.)* 104.2 92.1

Dividend per Equity Shares (Rs.) 0.25 -

* Face value Re. 1/- per share

OPERATING RESULTS AND PROFITS

The exemplary performance of the Company is manifest in the numbers posted

for the year under review. During the year ended March 31, 2010, the Company
registered a record net turnover of Rs.8,843.7 million as against Rs.7,734.2
million during the corresponding previous financial year, a growth of 14%. The

Company registered EBITDA of Rs.1,506.0 million as compared to Rs.2,444.6

million during the corresponding previous financial year. The PBT and PAT for the
year under review grew to stand at Rs.1,180.8 million and Rs.800.2 million
respectively, as compared to the negative PBT and PAT at Rs.923.7 million and
Rs.690.5 million respectively in the previous fiscal.

This growth was recorded across our business segments, with the domestic
pharmaceutical formulations segment growing by 14%. The Formulations
Segment registered net turnover of Rs.2,398.8 million as compared to Rs.2,262.3
million during the previous financial year. The Vaccines Segment grew by 18% and
registered net turnover of Rs.6,443.9 million as against Rs.5,470.2 million during
previous financial year.

Your Company strives to remain globally and regionally attractive to customers

and investors by continuing to focus on sustained growth, cost optimization and
efficient management of working capital. These strategic initiatives are
continually fueling the Companys growth across its business operations.

A detailed discussion on operations for the year ended March 31, 2010 is given
in the Management Discussion and Analysis section.

DIVIDEND

The Directors are pleased to recommend a dividend of Re.0.25 (25%) per share
on Equity Share Capital of the Company for the financial year 2009-10.
 The Company has made a provision for dividend in the books of accounts on the
Equity Share Capital as at the date of the Board Meeting for approval of Financial
Statements. The Company is obliged to pay dividend to those bond holders who
convert their bonds into Equity Shares after approval of the financial statements
by the Board of Directors and upto the book closure date for dividend purposes.

Incremental dividend, if any, and dividend distribution tax thereon will be paid
out of the balance available in the Profit & Loss Account.

The dividend on Equity Shares is placed before you for approval at the ensuing
Annual General Meeting and, if approved, will absorb an amount of Rs.16.7
million. However, the amount of dividend on Equity Shares may increase in case
any bonds are converted into Equity Shares before the book closure date. On the
other hand, such amount may also decrease due to buyback of Equity Shares, if
any, in terms of the proposed scheme of buyback before the book closure date.

Pursuant to the provisions of Section 205A(5) of the Companies Act, 1956 (the
Act), dividend for the year 2001-02, which remained unpaid or unclaimed for a
period of 7 years, amounting to Rs.122,880 has been transferred by the Company
to the Central Governments Investors Education and Protection Fund.

TRANSFERTO RESERVES

An amount of Rs.80.0 million is proposed to be transferred to the general

reserves of the Company out of the profits of the Company for the year.

SHARE CAPITAL

The Issued & Subscribed Equity Share Capital of the Company remained
unchanged at Rs.66.8 million, consisting of 66,842,746 Equity Shares of Re.1 each.

During the year under review, 149,000 forfeited Equity Shares of the Company,
which were earlier re-issued and held in the name of the Companys employees as
nominees/trustees, were sold during the year in the open market for Rs.29.9
million, out of which Rs.29.8 million has been credited in the Securities Premium
Account. As a result, the paid-up Equity Share Capital of the Company stands
increased from 66.7 million to Rs.66.8 million, consisting of 66,842,746 Equity
Shares of Re.1 each.

SHARE PRICE ANALYSIS

213.25   -4.20 (-1.93%)

Open 219.00 Vol 304527

High 221.00 52 Week 248.00

Low 210.00 52 Week 139.80

Prev. Close 217.45    

  Bid Offer

Price 0.00 212.95

Quantity 0.00 8.00

213.60   -2.90 (-1.34%)

Open 217.50 Vol 27984

High 220.90 52 Week 246.75

Low 210.50 52 Week 127.90

Prev. Close 216.50    

   Bid Offer

Price 0.00 0.00

Quantity 0 0

Historic Prices of Panacea Biotec

 BSE
 NSE

  1 week 2 week 1 month 3 month 6 month 9 month 1 year

Price 198.15 202.15 194.75 198.20 214.60 229.75 173.75
Gain / Loss 9.74% 7.57% 11.66% 9.71% 1.33% -5.35% 25.15%

ACHIEVEMENTS :

 As on March, 2007, the company had filed 490 patent applications in

various parts of the world including India. Of these, 163 have been granted
patent and others are under various stages of examination or publication
by the patent authorities. Some of these countries are USA, U.K., France,
Germany, Italy, Sweden, Denmark, Spain, Finland, Switzerland, The
Netherlands, New Zealand, Mexico, Brazil, Nigeria, Zimbabwe, Australia,
South Africa, Japan, Russia, Canada, Ukraine, Korea and China,.
 Panacea Biotec is the third largest biotechnology company (as per ABLE
Survey, 2006), as well as
 among the top 50 pharmaceutical companies (as per ORG IMS July 2006) of
India.
 With Cambridge Biostability Ltd., U.K., Panacea Biotec has entered into
strategic collaboration for developing thermo stable vaccines; with National
Institute of Immunology, India for Japanese Encephalitis candidate vaccine,
 Biotech Consortium India Ltd. for the development, manufacture and
marketing of Anthrax vaccine, worldwide.
 With National Institute of Health, USA, Panacea Biotec has entered into an
in-licensing arrangement for use of a peptide based product for generation
of hair follicles and hair growth.
 Panacea Biotec has also collaborated with Netherlands Vaccine Institute
for Inactivated Polio Vaccine; NRDC- India for Foot & Mouth Disease
vaccine for veterinary use and Bio Farma-Indonesia for Measles vaccine.

COMPETITORS
Last Price Market Sales Net Profit Total
Cap. Turnover Assets
(Rs. cr.)
Sun Pharma 2,139.80 44,318.77 3,861.55 1,265.29 5,747.47
Cipla 344.35 27,648.60 5,624.91 1,081.49 5,919.16
Dr Reddys Labs 1,609.50 27,232.99 4,553.21 846.08 6,477.80
Ranbaxy Labs 605.45 25,491.91 4,782.76 571.98 7,482.99
GlaxoSmithKlin 2,348.00 19,888.27 1,892.96 512.29 1,764.57
e
Lupin 442.35 19,718.68 3,708.51 648.93 3,437.36
Cadila Health 700.65 14,345.71 1,945.72 265.91 2,216.20
Piramal Health 515.55 10,775.67 2,666.21 443.22 2,161.59
Divis Labs 713.25 9,452.79 1,203.49 421.26 1,574.92
Biocon 444.40 8,888.00 939.88 111.81 1,758.09
Panacea Biotec 213.25 1,306.17 909.77 80.02 1,403.63
SUN PHARMA LTD.

The European Medicines Agency has been formally notified by Sun

Pharmaceutical Industries B.V. of its decision to withdraw its application for a
centralised marketing authorisation for the medicinal product Repaglinide SUN
(repaglinide) 0.5 mg, 1 mg and 2 mg film-coated tablets.

The medicine was developed as a generic medicine to be used for the treatment
of patients with type 2 diabetes whose hyperglycaemia can no longer be
satisfactory controlled by diet, weight reduction and exercise. It was also
intended as combination treatment with metformin of type 2 diabetes patients
whose blood glucose levels are not satisfactorily controlled on metformin alone.
The reference medicinal product for Repaglinide SUN is NovoNorm, which has
been authorised in the European Union since 1998.

The application for the marketing authorisation for Repaglinide SUN was
submitted to the Agency on 5 March 2009. At the time of the withdrawal, it was
under review by the Agency’s Committee for Medicinal Products for Human Use
(CHMP).

In its official letter, the company stated that it decided to discontinue the
application due to its marketing strategy.

More information about Repaglinide SUN and the state of the scientific
assessment at the time of withdrawal will be made available in a question-and-
answer document. This document, together with the withdrawal letter from the
company, will be published on the Agency’s website after the CHMP meeting on
19-22 April 2010

Dr. REDDYS LABS:

Established in 1984, Dr. Reddy’s Laboratories (NYSE: RDY) is an emerging global

pharmaceutical company.
As a fully integrated pharmaceutical company, our purpose is to provide
affordable and innovative medicines through our three core businesses: 

 Pharmaceutical Services and Active Ingredients, comprising our Active

Pharmaceuticals and Custom Pharmaceuticals businesses;

 Global Generics, which includes branded and unbranded generics; and

 Proprietary Products, which includes New Chemical Entities (NCEs),

Differentiated Formulations, and Generic Biopharmaceuticals.

Our products are marketed globally, with a focus on India, US, Europe and Russia.
Dr. Reddy’s conducts NCE research in the areas of metabolic disorders,
cardiovascular indications, anti-infectives and inflammation. 

Our strong portfolio of businesses, geographies and products gives us an edge in

an increasingly competitive global market and allows us to provide affordable
medication to people across the world, regardless of geographic and socio-
economic barriers.

RANBAXY:

Ranbaxy Laboratories Limited (Ranbaxy), India's largest pharmaceutical company,

is an integrated, research based, international pharmaceutical company,
producing a wide range of quality, affordable generic medicines, trusted by
healthcare professionals and patients across geographies. Ranbaxy today has a
presence in 23 of the top 25 pharmaceutical markets of the world. The Company
has a global footprint in 46 countries, world-class manufacturing facilities in 7
countries and serves customers in over 125 countries.

In June 2008, Ranbaxy entered into an alliance with one of the largest Japanese
innovator companies, Daiichi Sankyo Company Ltd., to create an innovator and
generic pharmaceutical powerhouse. The combined entity now ranks among the
top 20 pharmaceutical companies, globally. The transformational deal will place
Ranbaxy in a higher growth trajectory and it will emerge stronger in terms of its
global reach and in its capabilities in drug development and manufacturing.

Ranbaxy's mission is ‘To become a Research-based International Pharmaceutical

Company’. The Company is driven by its vision to ‘Achieve significant business in
proprietary prescription products by 2012 with a strong presence in developed
markets’.

BIBLIOGRAPHY

www.zyduscadila.com

www.ranbaxylaboratories.com

www.sunpharma.com

www.drreddyslab.com

www.moneycontrol.com

Annual Report of Zydus Cadila(2007)

Annual Report of Zydus Cadila(2010)