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Pfizer Ltd. Company History and Annual Growth Details


- The Company was incorporated as a private limited company under the
name of Dumex Ltd., on 21st November. The Company manufacture and
distribute sale and export of pharmaceuticals, agricultural and animal
health products, pharmaceutical chemicals, nutritional products and
items for personal, household and industrial use.

- At its Mumbai plants, the Company manufactures pharmaceuticals and
veterinary products and produces isonicotinic acid, hydrazide,
para-amino-salicylic PAS acid and Protinex from basic raw materials.

- At Chandigarh, the Company has a basic fermentation plant for the
production of broad spectrum antibiotics, oxytetracycline and
tetracycline, an organic synthesis unit for chloropropamide, and
facilities for blending and packaging of feed supplements.


- The Company set up a plant at Reay Road, Mumbai and commenced
processing of antibiotic, anti-TB, vitamin, nutritional and steered
products and a number of other pharmaceuticals and set up plants for
isonicotinic acid hydrazide and Protinex - a rich protein supplement.


- Pfizer, a leading U.S. and International manufacturer of
pharmaceuticals, chemical, agricultural and other products took over
the Company and its name was changed to Pfizer (P) Ltd.


- 15,000 Pref. shares redeemed, 25,100 No. of Equity shares issued.

-The parent Pfizer Inc. and Warner Lambert (the parent company of Parke
Davis) agreed to a $90-billion merger to create the world's fastest
growing pharma company.


- Rs 100 shares subdivided into shares of Rs 10 each.


- 1,00,000 No. of Equity shares issued.


- The received support from Pfizer Corporation for the development of
new and improved products. In November, the Company entered into a
licence agreement with Pfizer Corporation continuing the royalty-free
licence granted to it for the use of Pfizer processes, technical
knowhow, etc., relating to the manufacture of existing products in the
pharmaceutical, veterinary and agricultural fields and giving the
Company the right to obtain from Pfizer Corporation by Mutual
agreement, technical know-how and other assistance relating to the
manufacture of new items.

- 12,50,000 shares issued. Entire capital held by Pfizer Corporation,
Panama and its nominees.


- 6,60,000 shares issued in March at a premium of Rs 15 per shares:
1,98,000 shares taken up by directors, etc. and employees of the
Company and 4,62,000 shares offer to the public.


- Rs 2 per share called up on Capital Account by 2nd January. In
April, 1,800 share forfeited. In July, 13,29,100 Bonus shares issued
in prop. 1:2. 180 forfeited shares were thus reissued.

- Pfizer is a leader in the pharmaceutical industry, manufacturing and
marketing a diverse range of products.It has a fully owned subsidiary
-- Duchem Laboratories.


- In April, 15,94,568 Bonus Equity shares issued in the prop. 2:5.


- The company became public limited company on 4th March.

- The Company has a Process Development Laboratory in Mumbai
exclusively used for the study and development of new processes for the
basic manufacture of drugs. It has a Pharmaceutical Product
Development Laboratory also located in Mumbai. A large research and
development laboratory at Thane was commissioned in 1969.

- 44,64,820 Bonus shares issued in prop. 4:5.


- During October the Company issued 16,74,300 new equity shares of Rs.
10 each at a premium of Rs 8 per share to reduce the foreign
shareholding in the Company to 60%.


- The Company had received in August/September consent order from the
Controller of Capital Issues, to issue 5,37,500 No. of equity shares,
of Rs 10 each for cash at a premium of Rs 10 per share, as 'Rights' to
the existing shareholders and also to the employees of the Company, in
connection with the proposed project for the manufacture of
oleandomycin, polymycin, bacitracin and zinc bacitracin.


- Duchem Laboratories Ltd. (formerly known as United Advertising Ltd.)
and Euphoric Drugs Ltd., are wholly owned subsidiaries of the Company.
Euphoric Drugs Ltd., became a subsidiary of Duchem Laboratories Ltd.


- With a view to voluntarily reducing foreign equity shareholding in
Pfizer Ltd., from 60% to 40%, Pfizer Corporation, U.S.A. offered for
sale in August 1988, 23,44,050 No. of equity shares out of their total
holding of 70,32,100 shares of Pfizer Ltd.

- The 23,44,050 shares which were offered for sale were allotted at a
price of Rs 30 per share (face value Rs 10 and premium Rs 20) in the
following manner: (i) 12,30,000 shares to Euphoric Pharmaceuticals Pvt.
Ltd., Gujarat, (ii) 9,37,610 shares to the existing equity shareholders
of the Company in the ratio of 1:5, (iii) 1,17,200 shares to employees
and directors of Pfizer Ltd., and (iv) 59,240 shares to business
associates of the Company.


- Piroxicam, a major anti-artharitic drug, was launched in India in the
last quarter of the year under the brand name 'DOLONEX'.


- During the year, the animal health products division launched
Distodin for fluke worms in cattle and the division proposed to launch
Terramycin LA a unique sustained release injectable dosage form in the
near future.

- The Company issued 14% Non-Convertible debentures aggregating Rs 200
lakhs on private placement basis to ICICI.


- The Company issued 2,00,000-16.5% redeemable non-convertible
debentures of Rs 100 each to ICICI on private placement basis. These
debentures are to be redeemed in three equal instalments commencing at
the end of the 6th year and ending at the end of 8th year from the date
of allotment of debentures at a premium of 5% at the end of the 7th


- The former subsidiary Dumex Ltd., which was amalgamated with effect
from 1st April, with the Company. During the year, the pharmaceuticals
division introduced 'Dolmex' intramuscular injection.

- The animal health products division launched 'Coxistac' a latest
generation ionophore anti-coccidial, specially recommended for the
boiler industry.

- With effect from 1st April, Dumex Ltd., a wholly owned subsidiary of
the Company was amalgamated with the Company.

- With the reduction in the equity shares holding by Pfizer
Corporation, the Company ceased to be a FERA company.


- The pharmaceutical division proposed to introduce 'Gastro Intestinal
Therapeutic System' using advanced laser technology for hypertensive
patients with problem of diabetes, high cholesterol and several other
concomitant diseases.


- Pfizer has acquired the animal healthcare operations of Smithkline
Beecham.The bulk drug plant at Kalyani was sold to Dabur in 1996.

- The pharmaceutical division discontinued combantrin, diabinese and
two terramycin dosage form.


- An Artihypertasing Amlogard was launched. It was proposed to launch
a new long-acting endectocide.

- The letter of intent for the new products 'COMBANTRIN' and 'BANMINTH'
was converted into an industrial licence. As regards the letter of
BACITRACIN' the Company decided not to go ahead with the manufacture of
oleandomycin as it was not found to be economically viable.

- Pfizer India is an affiliate of Pfizer, US, which is the sixth
largest pharma company in the world.

- In Jan.'99, Pfizer, transferred to itself Magnamycin, a successful
injectable antibiotic brand, from Duchem, its subsidiary.


- Pfizer India has issued a notice that it will close down its
manufacturing plant at Ankleshwar with effect from 31st July.

- Pfizer Inc the US pharma giant's decision to set up 100 per cent
subsidiary has given a jolt to investors in Pfizer India.

- As part of the consolidation exercise, the parent company of Pfizer
has also approached the government to set up a 100-per cent subsidiary
in India to manufacture high-tech formulations.

- The Foreign Investment Promotion Board on Monday approved Pfizer's
proposal to set up a wholly-owned subsidiary while deferring by four
weeks Honda-Siel Cars' application to become the indenting agents for
Honda Motor Company of Japan.

- Pfizer Inc's proposal to set up a 100 per cent subsidiary in India.
Pfizer Ltd is 40 per cent held by the American parent company.

- Pfizer received approval from the Foreign Investment Promotion Board
to set up a 100 per cent subsidiary, causing concern among minority
shareholders that the proposed subsidiary would reap the benefits of
the prospective changes in the patent law.


- Shantha Biotechnics has tied up with the company for parallel
marketing of its products.

- In July 2000, the company allotted bonus shares in the ratio of 1:1,
thereby increasing the paid-up equity capital to Rs 23.44 cr.

- Mr. Hocne Sidi Said has been appointed as the Managing Director in
place of Mr Ian R. Young effective from 1st January 2001. The
resignation of Mr Bhaskar Bhattacharya, Alternate Director to MR B.
Balentini and Wholetime Director of the company has been accepted with
effect from 1st December.

- During 1999-2000, the company two products, Hepashield and Magnex
have been ranked as number one and number two selling brands amongst
over 700 brands launched by various companies in last 12 months.


-The operational merger between Pfizer and Parke-Davis has been completed and the legal merger is underway.

-Pfizer Ltd has informed BSE that Mr Michael Sweitzer has been appointed as a Director in the causal vacancy arising out of the resignation of Mr P J Santoriella. Mr K Handa, Executive Director, Finance who was the Alternate Director to Mr P J Santoriella, has now been appointed as an Alternate Director to Mr Michael Sweitzer.


-Pharmacy has agreed to shed an experimental impotence drug to satisfy US antitrust
reguators scrutinising the company's pending with Pfizer.

-The Bombay high court has granted an ad-interim stay on the merger of Pfizer
and Park-Davis on the basis of an appeal made by minor shareholders.

-Biggest multivitamin brand in the Indian market, Becosules a product of Pfizer Ltd.
is expected to Hit 100-cr mark in terms of annual turnover by March 2003.

-Pfizer has initiated the global implementation of 'Clinicopia Labelling and
Clinicopia Supply Chain' a part of infoPro's Clinical Trails management suite.

-Pfizer's Chief in India has taken over as the managing Director of Pharmacia
Healthcare which is the first step towards their integration.

-Supreme court declines to vacate stay of Bombay High Court on the proposed
drug maker Parke-Davis with Pfizer.

-Pfizer with GlaxoSmithkline have lowered their prices of their AIDS drugs for
state run AIDS drug assistance programmes in the United states.

-Pfizer has successfully completed the operational integration of Pharmacia
with itself.

-Pfizer has opted for Bharat S Raut & Co as the auditors of the company by
replacing A F Ferguson and Co.

-The Supreme Court has dismissed the petition filed by the shareholders challenging the merger of Pfizer Ltd and Parke-Davis India Ltd.

-Supreme Court permits Parke-Davis(I) merger with Pfizer,The company will issue equity shares in the ratio of 9:4

-Appointment of Mr Richard Gane as Director on ther Board of the company in place of Mr Charles Sarris.

-The strength of the board of Pfizer is cut to almost half, from 11 to 6.The directors who have stepped down from the board are all representatives of the parent company, Pfizer Inc. They are James S Hilboldt, Dr Michael Walter Hodin, Michael Sweitzer, Benjamin Valentini, Dr Pierre Etienne, Robert Wakefield Norton and Daniel P Cronin. The company has filled the two vacant slots by making executive director (finance) Kewal Handa and executive director (technical operations) B M Gagrat as full-time directors in place of R W Norton and James Hilboldt.


-Pfizer Ltd has informed that it has entered into an Agreement with Sanofi Synthelabo (India) Ltd for co-promotion of its product, Daxid. The agreement is valid for a period of 3 years.

-Pfizer withdraws Gelusil product

-Pfizer subsidiary ties up with Siro Clinpharm


-Pfizer launches two new products


- Pfizer Ltd has informed that the Board of Directors of the Company at its meeting held on June 28, 2007 has appointed Mr. Yugesh Goutam, Senior Director - Human Resources (HR) as Additional Director on the Board of the Company.


- Pfizer Inc. has entered into collaboration with New York-based research services and informatics firm TCG Lifesciences Limited to develop a portfolio of preclinical candidate molecules in a series of discovery target programs.
Oct 21, 12:00 am
Oct 21, 4:14 pm
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