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Jenburkt Research 03012011
Jenburkt Research 03012011
BSE Code - 524731 Current Market Price - ` 81.25 Market Capitalisation – ` 37.78 cr.
Fair Valuation - ` 158
Dividend Yield on FY11e Dividend – 6.15 % Last 10 Years' Avg. Div.Payout Ratio w.r.t. N.Profit – 68.53 %
FY10 Sales – ` 51.41 cr. FY10 Operating Profit - ` 6.24 cr. FY10 Net Profit - ` 3.77 cr.
1stHalf FY11 Sales - 1stHalf FY11 Operating Profit - 1stHalf FY11 Net Profit -
` 28.38 cr. ` 5.48 cr. ` 3.37 cr.
EV/EBITDA - 3.41
P/E Ratio (xAnnualised FY11 EPS) - 5.57
Management
Management Quality
Management Capability
Products Overview
Current Product Portfolio & Distribution Network
Product Strategy
Product Pipeline
Financials
Past Financial Track Record of Last 10 Years
Key Financial Ratios like RoCE, RoE & D/E for last 5 Years
Likely Future Financials
Current Valuation
Conclusion
Tabular Data depicting competitive Brands, Pricing, and Overview of most of the
products of Jenburkt
High Margin Products
Unique Combination – Niche Products
Other Products
Companies with historical high dividend payout ratio w.r.t. to net profit are interesting investment candidates
once their business cash generation begins an up-cycle, as investors invested in it at the start of the up-cycle not only
get steady returns on their investment but multiply their capital manifold within a short period of time. Jenburkt
Pharmaceuticals Ltd. is one such company which is like an undiscovered gem in the recession-proof industry viz.
Pharmaceuticals. It has all the ingredients required to qualify for a low-risk-high-return investment with :
➢ great financial stability which is evident from highest rating of CRISIL at SE1A,
➢ a good growth track-record with last 10 years' CAGR in Topline at 23.4 % while that in EBITDA at a whooping
69.4 %,
➢ opportunistic postioning in the business cycle with the start of expansion in margins,
➢ expanding export presence with a lot of scope to expand further as current no. of countries being exported to
are only 13,
➢ a strong domestic distribution network of 26 Superstockists and Consignee Agents, about 1,000 Stockists,
45,000 retailers and 480 medical representatives and front line managers,
➢ generous payout track-record with last 10 years' avg. payout at a whooping 68.5 % of net profit wherein
company has not skipped the dividend even when the profits were dismally low which indicates
management's commitment and concern towards minority shareholders.
All said in brief, lets now evaluate the company in slight detail :
Investment Rationale :
What we look for when we invest in a company ?-- There are six most important aspects to it which are like six
pillars on which any succesful investment decision hinges. They are Management Credibility, Product Strategy, Past
Fiancial Track Record & Likely Future Financials, Current Valuation and Peer Valuation. Starting below we have
focussed on each and every aspect in slight detail and so we have divided this report into following sections :
(3) Financials
(a) Past Fiancial Track Record of Last 10 Years
(b) Key Financial Ratios like RoCE, RoE & D/E over last 5 Years
(c) Likely Future Financials
Conclusion
Tabular Data depicting competitive Brands, Pricing, and Overview of most of the products of Jenburkt
High Margin Products
Unique Combination – Niche Products
Other Products
The pharmaceutical formulations market includes the domestic and the export market. The domestic market
accounts for approximately 61 per cent of total formulation sales. The share of exports has steadily risen from 30 per
cent in 2005‐06 to around 39 per cent (market size: $5.2 billion in 2009‐10) in 2009‐10.
The domestic formulations market has expanded at a CAGR of 14‐15 per cent over the last three years and
reached a size of Rs 417 billion in 2009‐10. This was primarily driven by robust growth witnessed in the anti‐diabetic,
cardiovascular, gynecology, respiratory and Neuro/CNS segments. In 2009‐10, the lifestyle diseases segment grew by
nearly 25 per cent as compared to the overall industry growth of 17.7 per cent. In the domestic market, lifestyle
segments such as anti‐diabetic, cardiovascular and gastrointestinal have emerged as chief growth drivers over the last
3‐4 years. Acute segments, mainly anti‐infectives, have continued to expand at a steady rate due to inadequate
sanitary and hygiene conditions.
The domestic market is concentrated at the top with the top ten players controlling about 38 per cent of the
total formulations sales. Within exports, entry barriers are significantly higher in the regulated markets as compared to
semi‐regulated markets due to stringent regulatory norms in the regulated market.
Incorporated in 1985, Jenburkt Pharmaceuticals Ltd. Is promoted by Bhuta Family, a family of repute whose
forefathers had a large contribution in building Sihor town in Gujarat and even today, under family's umbrella, various
hospitals, colleges and schools are running in Sihor. Jenburkt is engaged in manufacturing of branded formulations,
which is promoted ethically through its own field force. It has a state-of-the-art ISO 9000 & WHO-GMP Certified
manufacturing plant at Sihor-Gujarat,in India with a fully equipped, DSIR recognised in-house R&D Unit. It currently
has in its basket around 81 products & its variants for the domestic market while it exports around 25 products to 13
countries.
Management credibility is one of the most important factor while deliberating on an invesment argument for
a company. While evaluating management, we need to look deeply into the past to assess whether the management
we are referring to is credible or not. We will do this in two ways as follows :
(a) Management Quality
(b) Management Capability
The management quality of Jenburkt is almost unquestionable with its forefathers involved in building an
entire town like Sihor in Gujarat. Even today, following organisations are managed either actively or passively by the
key directors of Jenburkt :
Apart from such high repute background, we need to assess the management's commitment towards
Jenburkt as after all it is this company that we are concerned with. Here, we need to first look at last 10 years'
promoters' shareholding pattern wherein an interesting pattern throws up :
Sep. 2010 March March March March March March March March March March
2010 2009 2008 2007 2006 2005 2004 2003 2002 2001
43.94 % 42.75 % 41.67 % 40.85 % 40.45 % 40.11 % 39.84 % 37.98 % 36.50 % 36.15 % 35.13 %
Management/Promoters buying own company's shares from the open market is a signal of highest
commitment and confidence in the company's business. From above, it is evident that management of Jenburkt has
steadily made purchases via open markets since last 10 years and upped their holding in the company from a meagre
35.13 % in 2001 to the respectable 43.94 % in 2010. It is worthwhile to note here that in the span of last 10 years,
company has not made any fesh issuances of equity capital and so the equity capital of Jenburkt is same at 4.64 cr.
since 2001.
Apart from such commitment, the other thing an investor needs to look at is management's concern towards
its shareholders, especially minority shareholders. Here, we need to look at last 10 years' dividend payout ratio w.r.t.
reported Net Profit wherein again an interesting pattern throws up :
March March March March March March March March March March
2010 2009 2008 2007 2006 2005 2004 2003 2002 2001
Reported Net 3.77 1.63 1.3 1.2 1.04 0.74 0.63 0.35 0.45 0.1
Profit (in cr.)
Dividend Outgo 1.39 0.84 0.58 0.58 0.58 0.46 0.33 0.33 0.46 0
(in cr.)
Dividend Payout 43.90 % 59.86 % 52.19 % 56.5 % 66.07 % 71.6 % 58.73 % 94.28 % 102.22 % 0
Ratio w.r.t. N.P.
A management's concern towards its shareholders, especially minority shareholders, gets aptly tested in the
initial phase of a business where costs are mounting and there is every need to conserve resources for the growth of
the business. It is worthwhile to note here that it was only FY04 when Jenburkt's only plant in Sihor got cGMP
certification and before that the plant was being upgraded to meet international standards. Also, between the year
2000 to 2003 the company launched 40 brands and so pressure on operational costs was also mounting (Source – ARs
from 2000 onwards). Inspite of all these, the management demonstrated highest governing standards by showing
concern towards minority shareholders by distributing dividend from FY02 onwards. If one observes closely, in the
intial two years, the payout was almost 100 % which means almost the entire profit was distributed as dividend
amongst shareholders which depicts the confidence the management had in growth of business going forward as also
concern they had towards returns of investors. Another important thing that needs to be mentioned here is the fact
that promoters held only 35-36 % equity of the company at that time and so any other management with such low
promoter holding would have easily skipped the dividiends but Jenburkt's management didn't do so which depicts the
highest governing standards adopted by the management of the company which are hard to see in many other small
cap companies.
A company run by a quality management could easily derail if the management lacks the capability to run the
business with profitable growth. Hence, capability of management is equally important assessing parameter as is
quality. To adjudge the capability of management to enable profitabile growth of the company, we need to first look at
past 10 years' financials :
FY'10 FY'09 FY'08 FY'07 FY'06 FY'05 FY'04 FY'03 FY'02 FY'01
(in ` cr.)
Sales 51.41 42.45 38.38 35.42 29.09 23.53 22.58 20.71 17.49 15.16
EBIDTA 7.07 4.42 3.77 3.55 2.89 2.23 1.96 1.65 1.51 0.89
Operating 6.24 3.74 3.12 2.88 2.35 1.81 1.6 1.32 1.22 0.58
Profit
Net Profit 3.77 1.63 1.3 1.2 1.04 0.74 0.63 0.35 0.45 0.1
As can be seen from the above, in not a single year in last 10 years, the company has reported negative
growth in topline or EDITDA which shows the capability of the management to chart out a steady profitable growth for
the company.
Apart from the financial track record, we need to keep tab on key expenses, especially financial expenses as
well as tax expenses to check whether the management has the capability to manage the growth effectively with high
quality earnings :
FY'10 FY'09 FY'08 FY'07 FY'06 FY'05 FY'04 FY'03 FY'02 FY'01
( in % )
Fin. Exp. 7.36 19 25.73 23.94 23.88 30.04 33.16 36.36 33.77 47.19
(%
EBIDTA)
Tax 27.43 28.5 22.54 23.09 21.79 17.93 16.32 22.42 16.55 10.11
(%
EBIDTA)
As can be seen from the above, the management has channelised the steady growth towards rationalisation
of financial expenses which has come down from a high of 47.19 % of EBITDA in FY01 to just 7.36 % of EBITDA in FY10.
Although on specific terms, financial expenses have increased only marginally from 0.42 cr. in FY01 to 0.52 cr. in FY10,
if one looks at it as a % of EBITDA they have come down drastically which shows that management has handled a
CAGR of 23.4 % in topline and 69.4 % in EBITDA over the span of last 10 years quite effectively without burdening the
balance sheet. Similarly, the tax expense has gone up from just 10.11 % in FY01 to 27.43 % in FY10 which depicts the
high quality earnings earned by the company.
Now, apart from assessing such financial growth capability as well as financial management capability via such
above-stated figures, it is worthwhile to look at the recognition, management has got, from respectable organisations
vindicating their capability of business growth and financial management :
• Recognition of R&D Unit by Department of Science and Technology, Government of India, in 2009-10.
• Crisil Rating (Highest Category) by NSIC-CRISIL rating as “SE1A”, indicating “Highest Performance Capability
and High Financial Strength” for consecutive three years, since 2007.
• Received National Award (1st rank) for Cost Management from Institute of Cost and Works Accountants of
India (ICWAI) by the hands of Honourable Minister of State of Corporate Affairs, Mr.Salman Khurshid, under
the category of manufacturing (small) 2009.
For a pharmaceutical company, products are the critical factor determining their success in the marketplace.
As far as formulations are concerned, the combinations used are sometimes crucial to make a product an ultimate
winner. Equal importance has to be put on distribution and marketing network as Indian market is still very much
dependent on doctors' prescription. Hence, we will evaluate Jenburkt products on following counts :
Apart from covering Jenburkt's products from above-mentioned angles, we have made a detailed analysis of
most of the current products of Jenburkt w.r.t. competitive brands in the market, their pricing w.r.t. Jenburkt's
pricing, etc. which can be found at the end of the report.
Jenburkt currently has 81 products and its variants in the domestic market while it exports around 25
products to 13 countries. It has 3 of its products currently under DPCO.
As far as company's network goes, in the domestic market its network consists of 26 Superstockists and
Consignee Agents, about 1,000 Stockists and 45,000 retailers. Company's marketing team consists of 480 medical
representatives and front line managers.
While we briefly speak regarding Jenburkt's products here, a special mention needs to be given to its flagship
product Nervijen – used primarily for nerve damage. Within one and a half years of its launch in 2004, it became the
most preferred brand amongst Diabetologists and Neurologists ranking 5 th and 6th in respective categories (Source – C-
MARC CPR Nov.2004-Feb.2005). The unique therapeutic combination used by Jenburkt for the product was the first in
India at that time which followed launches by many other pharma companies thereafter. Although Jenburkt's
marketshare declined because of cheap launches by other companies on lines of Jenburkt since last few years, but
even today, it hardly faces any serious competition for the product except from Mankind Pharma.
Likewise, Jenburkt has many high margin products under its kitty like Cartisafe, Infartin, Jencer, Powergesic,
Tinor, Trapidol, etc. A couple of unique products which are first in India are under development and are expected to
be launched in FY12, FY13.
The details of all the major current products of Jenburkt can be found at the end of the report where we
have provided detailed tabular analysis on each one of them.
Jenburkt's focus has been on promoting speciality fixed dose combination products, targeting speciality
doctor segments. Management has, right from the inception, focussed on high margin products. The process of
moving up the value chain has started showing results since last two years, which is a slow and an enormous effort
consuming affair, especially when it comes to building brands, through the ethical channel. Unlike generics and
contract manufacturing activity, the model offers better margins and most importantly it calls for brand building
exercise, which increases the intrinsic value of the Company. Their recent launches in cardiovascular segment has
been very well accepted and management has carefully chosen niche products where either there is no competition
or the market is huge.
For ex., company's recent product Infartin-60 is a replica of Aggrenox, a blockbuster drug of US and there are
just four competitors in India for it in the form of Sun, Torrent, USV and Intas. On the other hand, company's other
recent product in this segment, viz., Tenase has many competitors including Sun, Lupin, Indoco, Torrent, Themis,
Pfizer, Glaxo, Zydus, Cipla, Ipca, JB, Max, etc. but here the market is huge and the pricing of Jenburkt is such that it can
be part of the market.
Similarly in their recent launch in antibiotic segment, viz. Tinor, company has used such combination which is
matched by only 10-11 other companies in the market and considering the market size of India, each company will
have its fair share.
Post DSIR-recognition of R&D Unit of the company, various products are under development. Going forward,
the Company is hopeful to sustain the growth, with introduction of new specialized products through it’s own R&D
Unit. Couple of products are under various stages of clinical trial studies, right from seeking to conduct clinical trials to
submission of clinical trial reports- awaiting marketing permission. FY12 is likely to see few unique products' launch,
many of which will be first time in India.
(3) Financials :
Here we come at the main aspect – the Financials aspect of the company. We will put Jenburkt to rigorous
test by evaluating its financials for last 10 years as also looking at key ratios like RoCE, RoE, Debt-to-Equity for last 5
years to assess the financial management and stability aspect of the company and then arrive at forecast for future
financials of Jenburkt. Lets start...
Lets look at topline, EBITDA, Operating Profit and Net Profit reported by Jenburkt for last 10 years as also the
margins' picture in the same period :
Sales 51.41 42.45 38.38 35.42 29.09 23.53 22.58 20.71 17.49 15.16
EBIDTA 7.07 4.42 3.77 3.55 2.89 2.23 1.96 1.65 1.51 0.89
Operating 6.24 3.74 3.12 2.88 2.35 1.81 1.6 1.32 1.22 0.58
Profit
Net Profit 3.77 1.63 1.3 1.2 1.04 0.74 0.63 0.35 0.45 0.1
EBIDTA 13.75 10.41 9.82 10.02 9.93 9.47 8.68 7.96 8.63 5.87
Margins
OPM 12.13 8.81 8.12 8.13 8.07 7.69 7.08 6.37 6.97 3.82
NPM 7.33 3.83 3.38 3.38 3.57 3.14 2.79 1.69 2.57 0.65
Between FY01 to FY05, the company spent heavily on building the state-of-the-art plant at Sihor to make it
cGMP certified. Once certification happened, from FY05 to FY08, the company built a strong marketing team of 400+
MRs as also strengthened its R&D Unit to make it DSIR-recognised and spent heavily on product registrations in foreign
countries. Product registrations as well as approvals is an ongoing process but in the initial period, every
pharmaceutical company needs to incur a lot on filing dossiers and since approval is a time-consuming process, there
is a lag period between the cash to start rolling in the international market. Thus, so far in the first decade till FY09,
Jenburkt has built a strong base to grow aggresively in domestic as well as international market in the coming decade.
The strong foundation that the company has built since last so many years has started yielding results and that is why
we are seeing an uptick in topline coupled with good expansion in margins.
(b) Key Financial Ratios like RoCE, RoE & D/E over last 5 Years :
Now, we will look at key financial ratios like RoCE, RoE and Debt-to-Equity Ratios to assess the quality of
growth achieved by the company so far :
As can be seen from the above, management has shown a great amount of efficiency in managing the
sustainable steady growth of the company over last many years and that too without raising a single amount from
equity markets via any kind of share issuances. FY10 RoCE and RoE are likely to get bettered in FY11 if we look at
robust financials reported by the company in the first half of FY11 wherein it has almost surpassed entire FY10
reported profit in fist half itself. To achieve a RoCE of 40 % + and a RoE of close to 40 % for consecutive two years is not
an easy feat to achieve and management needs an applaud for this. These ratios make Jenburkt an attractive
acquisition target in booming Pharmaceuticals space which is already facing hightened M&A activities in the recent
past.
Considering the business traction as well as the product pipeline Jenburkt has, as also making part
consideration for the fruits expected from the investments made by the company so far, we will arrive at a
conservative estimate for next 3 years so that management has an opportunity to surpass them. Financials forecast
for next 3 years is given below :
It is worthwhile to mention here the vision of the management to chart on the self-sustainable growth plan
while turning a zero-debt company within few years. We expect Jenburkt to turn zero-debt in FY13 and expect no
meaningful fund-raising via equity issuances unless any major expansion is planned which is not talked till date.
Based on the projected financials, Jenburkt is expected to end current FY11 with an EPS of Rs. 11.4, FY12 with
an EPS of Rs. 19.57 and FY13 with an EPS of Rs. 27.5.
Based on the projected financials for next 3 years, Jenburkt is currently trading at a P/E of just 7.19 based on
FY11E EPS of Rs. 11.4, at a P/E of just 4.19 based on FY12 expected EPS of Rs. 19.57 and at a P/E of just 2.98 based on
expected FY13 EPS of Rs. 27.5.
If we look at market-cap-to-sales ratio, Jenburkt is currently trading at a mcap-to-sales of just 0.68x FY11
expected sales of Rs. 55.8 cr., at 0.51x FY12 expected sales of Rs. 74.3 cr. and at 0.38x FY13 expected sales of Rs. 99.6
cr.
Although Jenburkt is a very small company at present with a topline of just 55 odd crores but it is present in
the high margin formulations space which is the fact no investor can ignore. Jenburkt has a unique business model of
self-sustainance which is not adopted by many pharma companies of India as most of them expand aggresively by
burdening their balance sheet. Hence, strict comparison might not be possible but still we will provide here key
financial evaluation as well as valuation parameters of most of the similar pharma companies below :
Jenburkt 38.12 cr. 41.14 % 35.97 % 0.47 7.19 3.41 30.00 % 3.69 %
Pharma
Lincoln 71.93 cr. 15.2 % 13.7 % 0.51 7.8 5.1 12.00 % 2.73 %
Pharma
Bafna 77.42 cr. 9.8 6.2 0.68 12.1 10.97 0.00 % 0.00 %
Pharma
Albert David 88.02 cr. 17.2 17.3 0.96 7.1 3.73 45.00 % 2.90 %
Ind-Swift 135.65 cr. 11.8 14.2 1.74 3.6 6.12 20.00 % 1.14 %
Ltd.
Bliss GVS 356.21 cr. 39.7 36.2 0.04 6.51 6.81 50.00 % 1.44 %
Amrutanjan 217.81 cr. 17.9 11.3 0.01 35.8 13.98 150.00 % 2.08 %
Health
Ajanta 251.43 cr. 13.7 17.4 1.35 7.3 5.71 35.00 % 1.65 %
Pharma
As can be seen from the above, we have considered here only those companies whose business is heavily
skewed towards formulations as also whose valuations commanded are lowest in the industry. Pharmaceutical
industry is a very broad sector and so it is meaningless to compare much larger companies whose valuations
commanded are also super-rich which is the reason why average industry P/E for Pharmaceutical sector works out to
be 25 +.
Also, each company has its own business model and is present in other areas too where Jenburkt is not
present. For ex., Ajanta Pharma has low-margin API component in its business while Bafna and Ind-Swift are present in
CRAMS in addition to formulations. Similarly, Bliss-GVS has its business model focussed around contraceptives and
Nutraceuticals while Amrutanjan has high alternative medicine component in the business.
Now, coming to the comparision, Jenburkt offers the highest dividend yield as well as is available at lowest
EV/EBITDA which signifies its gross undervaluation in the marketplace. If such low EV/EBITDA would have coupled with
low RoCE and RoE then Jenburkt could have lost its attractiveness but this is not the case so as Jenburkt possesses
highest RoCE and RoE amongst the industry peers with a very low D/E ratio. Bliss-GVS and Amrutanjan are the only
players with a D/E ratio lower than Jenburkt but Amrutanjan loses out in terms of RoCE, RoE and EV/EBITDA while
Bliss-GVS loses out in terms of EV/EBITDA which makes Jenburkt the most undervalued while at the same time
reasonably growing company amongst the lot as also most attractive takeover target.
Conclusion :
We rarely come across a mouth-watering investment opprtunity when the markets are close to their all-
time highs. That too, if such investment opportunity is in a fancied sector which is almost recession-proof, its an added
bonus. Now comes the question as to what can be termed as a mouth-watering investment opportunity –
➔ with a debt-to-equity ratio below 0.5 with a vision to bring it to 0.00 within few years;
➔ with a dividend-yield of 3.69 % based on TTM declared dividend and a dividend-yield of 6.15 % based on
FY11E dividend;
----an investment opportunity into such company is termed as the mouth-watering opportunity.
However, apart from the financial parameters, we need to look at the prospects of the business before
investing in it and on that count too Jenburkt scores very well.
This is because, so far, in last many years, product registration expenses as well as R&D expenses were a
real drag on Jenburkt's margins. But, now the company has entered into a phase which is charecterised by returns
outstripping investments and so one is seeing healthy expansion in margins. Hence, here we have an opportunity to
invest in a company with healthy financial parameters at the start of a phase when its investments have started
yielding fruits with prospect of a rise in intrinsic value of the company to a considerable extent in the medium term.
The markets which are so shrewd to let any compelling investment opportunity remain an opportunity for
long, are bound to rerate Jenburkt on getting the first sign of certainity regarding FY12 growth. The players of domestic
formulations industry are now being looked at with a lot of respect than before post Abbott's acquisition of Piramal's
formulations business at more than 5 times its sales opportunity. The deal has proven that companies which grow
steadily and build a strong high margin product portfolio get a valuation which can surpass even the most optimistic
expectations. Jenburkt is also on the same path with a singular focus on high margin products and recent expansion in
margins is an indication of the same. If in the next couple of years Jenburkt is able to launch few unique products as
are in the pipeline which can be very well accepted in the market, its strong financial parameters will make it the most
attractive acquisition target for bigger players which are on the constant lookout for such targets. By that time, its
dividend yield of 6.15 % will take care of constant returns and the prospect of posting better than projected FY11
numbers can very well provide a strong upside to the company's share price.
One thing is clear, such a company can not trade at a EV/EBITDA of just 3.41 for long. Hence, we put the
fair valuation of Jenburkt at Rs. 158 at which rate it will still be only reasonably valued.
High Margin Products
Cartisafe
(Glucosamine Sulphate-Vit D3-Calcium Carbonate)
Competitive Product Mfg. Company Name Brand Name Pricing w.r.t. Jenburkt's Product Price
Cartisafe Forte
(Glucosamine Sulphate-Calcium Carbonate)
Competitive Product Mfg. Company Name Brand Name Pricing w.r.t. Jenburkt's Product Price
Efelac DT
(Cefixime - Lacto Bacillus Sporegens )
Indicated In :-
Competitive Product Mfg. Company Name Brand Name Pricing w.r.t. Jenburkt's Product Price
Infartin-60
(Dipyridamole-Aspirin )
Indicated In :-
• To reduce the risk of stroke in patients who have had transient ischemia of the brain or completed ischemic
stroke due to thrombosis
Competitive Product Mfg. Company Name Brand Name Pricing w.r.t. Jenburkt's Product Price
Jencer
(Diacerein )
Indicated In :-
• Knee & hip osteoarthritis
Competitive Product Mfg. Company Name Brand Name Pricing w.r.t. Jenburkt's Product Price
Nervijen (Capsule)
(Methylcobalamin{B12}-Vit B1 -Calcium Panthenol -D-Panthenol-Folic Acid-Nicotinamide -Vit B6 )
Indicated In :-
• Diabetic Neuropathy
• Alcoholic Neuropathy
• Post Herpetic Neuralgia
• Bell's Palsy
• Alzheimer's Disease
• Dementia
• Parkinson's Disease
• Optic Neuritis
• Post Surgical Nerve Damage
Competitive Product Mfg. Company Name Brand Name Pricing w.r.t. Jenburkt's Product Price
Indicated In :-
• Diabetic Neuropathy
• Alcoholic Neuropathy
• Post Herpetic Neuralgia
• Bell's Palsy
• Alzheimer's Disease
• Dementia
• Parkinson's Disease
• Optic Neuritis
• Post Surgical Nerve Damage
Competitive Product Mfg. Company Name Brand Name Pricing w.r.t. Jenburkt's Product Price
Powergesic
(Paracetamol-Diclofenac Sodium-Chlorzoxazone)
Indicated In :-
Competitive Product Mfg. Company Name Brand Name Pricing w.r.t. Jenburkt's Product Price
Powergesic-MR
(Paracetamol-Diclofenac Sodium-Chlorzoxazone)
Indicated In :-
Soft Tissue Injuries with Spasm & Inflammation, Neck/Shoulder/Back Pain, Tendonitis/Tenosynovitis/Bursitis, Musculoskeletal
Disorders
Competitive Product Mfg. Company Name Brand Name Pricing w.r.t. Jenburkt's Product Price
Indicated In :-
• Respiratory infections like pneumonia, acute and chronic bronchitis, and bronchopneumonia
• ENT infections like tonsillitis, pharyngitis, sinusitis and otitis media
• Skin infections like folliculitis, furuncles, cellulitis, carbuncles, pyoderma, impetigo and infected dermatitis
• Genital infections like urethritis, prostatitis, cervicitisand salpingitis
Competitive Product Mfg. Company Name Brand Name Pricing w.r.t. Jenburkt's Product Price
Rabera
(Rabeprazole)
Indicated In :-
• Healing and symptomatic relief of erosive or ulcerative gastroesophageal reflux disease (GERD)
• Maintaining healing and reduction in relapse rates of heartburn symptoms in patients with erosive or
ulcerative GERD (GERD Maintenance).
• Treatment of daytime and nighttime heartburn and other symptoms associated with GERD
• Healing and symptomatic relief of duodenal ulcers
• Pathological hypersecretory conditions, including Zollinger-Ellison syndrome
Competitive Product Mfg. Company Name Brand Name Pricing w.r.t. Jenburkt's Product Price
Tinor
(Norfloxacin-Tinidazole )
Indicated In :-
Trapidol Tablet
(Paracetamol-Tramadol )
Indicated In :-
• Short-term treatment (i.e. three days or less) of mild to moderate acute pain
Competitive Product Mfg. Company Name Brand Name Pricing w.r.t. Jenburkt's Product Price
Trapidol (Injectible)
(Tramadol )
Indicated In :-
• Management of moderate to moderately severe pain
Competitive Product Mfg. Company Name Brand Name Pricing w.r.t. Jenburkt's Product Price
Trapidol-D Tablet
(Paracetamol-Tramadol-Domperidone )
Indicated In :-
• Postoperative nausea and vomiting
• Diagnostic procedure pain
• Migraine
Competitive Product Mfg. Company Name Brand Name Pricing w.r.t. Jenburkt's Product Price
Zenglobin FC
(Iron (III) Hydroxide Polymaltose -Folic Acid )
Indicated In :-
• Latent iron deficiency
• Manifest iron deficiency
• Prophylactic therapy of iron and folic acid deficiency before during and after pregnancy (during lactation)
Competitive Product Mfg. Company Name Brand Name Pricing w.r.t. Jenburkt's Product Price
Zix-S
(Paracetamol-Serratiopeptidase-Aceclofenac)
Indicated In :-
• Osteoarthritis
• Rheumatoid arthritis
• Ankylosing spondylitis
Competitive Product Mfg. Company Name Brand Name Pricing w.r.t. Jenburkt's Product Price
Rishab Helath. Powernac-SP (+) 51 %
Madhav Bio Abdal-SP (+) 62 %
Novo Nordisk Novodase (+) 54 %
BMW Pharmaco Aceden-SP (+) 53 %
Biomax Bio Flamace-SP (+) 54 %
Emar Health. Leofenac-SP (+) 51 %
Intra Labs Acec Plus (+) 43 %
Sanat Products Acemove Plus (+) 38 %
Zuvista Mahanac PRO (+) 36 %
Indoco Pharma. Doloroff-ASP (+) 26 %
Tablets India Dublace SP (+) 26 %
Zydus Alidac Zynac SP (+) 21 %
Cadila Pharma Acota-3 (+) 4 %
Intas Pharma Hifenac-D (+) 4 5
FDC Arflur-3D (-) 14 %
Mankind Pharma Flozen-AA & Dolokind- (+) 11 %
AA
St. Morrison Samonec-SP (+) 48 %
Lincoln Pharma Vivian-A Plus (+) 44 %
Globus Remedies Lorato-AP (+) 42 %
Neiss Lab Nismol-S (+) 41 %
Indoco Remedies Acecloren (+) 36 %
Morpen Lab. Acloflam (+) 11 %
Globin Pharma Flanc EX (-) 8 %
Radix Flaxinac-SP (+) 44 %
JB Chemicals Moviz 3D (+) 46 %
Torrent Pharma Toroxx-SP (+) 24 %
Nestor Pharma Nespower SP (+) 1.5 %
Unichem Lab. Aroff-EZ 0.00%
IPCA Lab Movon SP (+) 28 %
Ortin Lab. Acefinac SP (+) 52 %
Svizera Health Arrestin-SP (+) 14 %
Lupin Signoflam (+) 21 %
Alpa Lab. AP Dase (+) 68 %
Micro Labs. Dolowin Forte (+) 51 %
Zenetica Pharma Aphen-SP (+) 51 %
Emcure Pharma Fico SP (+) 48 5
Biocare Remedies Combinac-S (+) 47 %
Dr. Also Lab. Acloson SP (+) 34 %
Bestochem Formulation Best-3 (+) 26 %
Molekule India Nusaid SP (+) 24 5
Piramal Healthcare Acevah PS (+) 11 %
Cadila Pharma Terioflam (+) 10 %
Maneesh Health. Fenbest Plus (+) 8 %
Cadila Healthcare Trioflam (+) 1 %
Triben-MN Cream
(Fluocinolone-Miconazole-Neomycin)
Indicated In :-
Competitive Product Mfg. Company Name Brand Name Pricing w.r.t. Jenburkt's Product Price
Indicated In :-
Mobitide
(Tinidazole -Diloxanide Furoate )
Indicated In :-
• Intestinal, hepatic and extraintestinal amoebiasis
• Chronic intestinal amoebiasis
• Amoebic colitis
Competitive Product Mfg. Company Name Brand Name Pricing w.r.t. Jenburkt's Product Price
Topcal-M
(Elemental Magnesium-Calcium Citrate-Vit D3-Elemental Zinc)
Indicated In :-
• For higher Calcium demands in women during – Hypoparathyroidism during Pregnancy & Lactation
• Post-Menopausal Osteoporosis
• Low Vitamin D in Pregnancy-induced Hypertension
Competitive Product Mfg. Company Name Brand Name Pricing w.r.t. Jenburkt's Product Price
Other Products
Glucotrol
(Glipzide – 5 mg.)
Indicated In :-
• Diabetes
Glucotrol - MF
(Glipizide – 5 mg. + Metformin – 500 mg.)
Indicated In :-
• Diabetes
Piril-DX Syrup
(Chlorpheniramine-Dextromethorphan)
Indicated In :-
• Dry cough, allergic cough, post-operative cough, smokers cough, night-time cough
Competitive Product Mfg. Company Name Brand Name
Cipla Cheston-CS
Khan Laboratories Exiplon-DM
Piritexyl-BR Syrup
(Ambroxol-Guaiphenesin-Menthol-Terbutaline )
Indicated In :-
• cough associated with bronchitis, bronchial asthma, emphysema and other bronchopulmonary disorders
where bronchospasm, mucous plugging and problems of expectoration co-exist
Arlak Biotech -
Zota Zyrex
Alkem Xpect-B
Alkem Indikof-B
Azine Mucoresp Plus
Flamingo Munorm
Dyota Coldman
Meyer Cofaid-EX
CFL Cosyp-E
Comed Sudex-AR
Triben Ointment
(Clotrimazole)
Indicated In :-
Triben-B Cream
(Beclomethasone-Clotrimazole.)
Indicated In :-
• inflamed fungal skin infections such as ringworm, athlete's foot, and jock itch
Cipla Clocip-B
Glenmark Candid-B
Bayer Canesten-S
Ind-Swift Cazol-B
Ranba Statum-B
Comed Decand-B
Emcure Pharmaceuticals Beclasone-C
Lyka Hetro Labs. Imidil-B
Gufic Lotril-B
Glaxo Nifugal-B
Fulford Lotriderm
Indoco Remedies Clonben
Bombay Tablet Clomax-B
Cadila Beclotis-C
Triben-F
(Fluconazole – 150 mg.)
Indicated In :-
• Cryptococcal meningitis and maintenance therapy to prevent relapse of cryptococcal disease in patients with
AIDS
• Systemic candidiasis
• Oropharyngeal and oesophageal candidiasis
• Vaginal candidiasis
• Candidial balanitis
• Dermatomycosis
Glenmark Glenflu
Win Medicare Logican
Emcure Pharmaceuticals Flunova
Ochoa Lab. Ultican
Unison Pharma. Fole
Systopic Lab. AF-150
Syntro Healthcare Flucoside
Wallace Pharmaceuticals Onecan
Inga Pharma. Fungal-F
Avalanche Pharma AviFlu
Micro Labs. Fungina-150
DWD Pharma Funspor
Radicura Pharma. Fluzole
Psychotropics India Myconorm- F150
Numox (Injection)
(Amoxycillin-Cloxacillin )
Indicated In :-
Sanjivani Broadcure
Lincoln Klomox
Panacea Mytimox
Cipla Novaclox
Osper Osoclox
Ranba Suprimox
Cadila Symbiotik
Zydus Cadila Hipenox
Numox (Capsule/Tablet)
(Amoxycillin-Cloxacillin )
Indicated In :-
Numox LB (Capsule/Tablet)
(Amoxycillin-Cloxacillin-Lactobacillus )
Indicated In :-
Centaur Abclox
Active Healthcare Amclox-LB
Alicon Pharma Amolac Plus
Ind Swift Amyclox-LB
DWD Clodax-L
FDC Flemiklox-LBX
Intra Lab Inloxy
Meridian Laclomox
Comed Lacom
Alkem Nodimox Plus-LB
Cipla Novaclox-LB
Ranba Suprimox-P
Cadila Symbiotik Caps
Piramal HealthCare Tresmox-LB
Aurobindo Z Plus L
Metmin
(Metformin - 500 mg.)
Indicated In :-
• Diabetes
Zix
(Aceclofenac )
Indicated In :-
• Osteoarthritis
• Rheumatoid Arthritis
• Ankylosing Spondylitis
• Arthrosis
• Cervicalgia, lumbago
• Tendinitis
• Odontalgia
• Myalgia
• Post-episiotomy pain
• Primary Dysmenorrhoea
Genesis. Abate-SR
Anthus Pharma Aceclan
Aristo Aceclo
Medley Pharma Acenac
Mankind Pharma Dolokind
Cadila Acota
Wockhardt Aceroc
Indoco Remedies Dolochek
Emcure Pharmaceuticals Mahanec
Emcure Pharmaceuticals Fico
Unichem Lab. Aroff
Sanat Products Acemove
Micro Labs Dolowin
Alembic Fortafen
Cipla Movexx
JB Chemicals Moviz
Piramal Healthcare Niplonac
Lupin Singoflam-SR
Torrent Toroxx-A
Glenmark Valus-A
Zydus Xadoo
IPCA Zerodol
Procisa
(Cisapride)
Indicated In :-
• Intestinal pseudo-obstruction in children, associated with motility dysfunction resulting in insufficient
propulsive peristalsis and in stasis of gastric and intestinal contents
• Gastroparesis, idiopathic or associated with diabetic neuropathy
• Symptoms of X-ray or endoscopy negative upper digestive discomfort characterised by early satiety,
postprandial fullness, bloating, excessive belching, anorexia, vomiting or by ulcer-like complaints (epigastric
burning or pain).
• Gastro-oesophageal reflux disorders including oesophagitis and the maintenance treatment thereof
Centaur. Alipride
La Pharma Cenz
Unichem Cisade
Wallace Cisawal
Panacea Cispel
Intas Ciza
Reliance Cizap
Sun Esorid
Ranba Moten
Dr.Reddy Peristil
J&J Prepulsid
RPG Prokine
Aurobindo Pryde
Piramal Health Care Rhonepride
Cadila Santiza
Torrent Unipride
Tenase
(Atenolol)
Indicated In :-
• Hypertension
• Angina Pectoris Due to Coronary Atherosclerosis
• Acute Myocardial Infarction
Allerzine
(Cetirizine)
Indicated In :-
Lincoln. Satrin
Atoz Pharma Atcet
Mamta Pharma Metriz-10
Chemo Drugs Zacet
Panjon Pharma Pancet
Max India Xero-SED
Intas Intazin
Svizera Healthcare Rintrin
Centaur Z-Cet
Ikon remedies Cetmac
Zota Healthcare E-Cet-MD
Torque Pharma Cetramac
Mankind Pharma Cope
Novamed Pharma Cefid
Khan Lab. Cetnaz
Psychotropics CTZ
Vivid Labs. LRG
Intra Labs. Incez DT
Aztec Life. Cetaz
Cipla Okacet
Karnataka Antibiotics Alerbloc
Ortin Lab. Alid
Swisskem Healthcare Setri
Micro Labs Allercet
Dr. Reddy Cetrine
Bal Pharma Unicet
Marc Lab. Cetoz
Zydus Cadilla Zetop Instabs
Willow Pharma. Siacet
Cadila Healthcare Elgnil
Cadila Pharmaceuticals Cetrizine
Torrent Labs. Zirtin
Ranba Hisnofil
Lupin CZ-3
Cipla Cetcip
Alkem Cetiriz
Cipla Alerid
Aurochem Lergi
Taurus Lab. Taurcet
Wallace Pharma Cetriwal
Arvind Lab. Fulday
Hamax Pharma Cetrila
Minova Life. Rhynal
Wintech Pharma Olcet
Khushal Pharma Sit-10
Symbiosis Lab. Cetriken
Torino Lab. Cetrino
Glenmark Pharma. Cetridoc
Ortin Lab. Alergid
Active Healthcare Cetract
Unichem Zyncet
Glaxo Cetzine
Indoco Triz
Ecoprot Plus
(Ferrous Fumarate -Folic Acid -Vit B12 -Vit D3 -Vit B1 -Niacinamide -Vit B2 - Vit B6 -Calcium Pantothenate -Copper Sulphate -Vit A -Vit E
-Manganese Chloride -Di-Calcium Phosphate -Protein Hydrolysate )
Nutritional Supplement
Ojen
(Ofloxacin)
Indicated In :-
• Acute bacterial exacerbations of chronic bronchitis
• Community-acquired Pneumonia
• Uncomplicated skin and skin structure infections
• Acute, uncomplicated urethral and cervical gonorrhea
• Nongonococcal urethritis and cervicitis
• Mixed infections of the urethra and cervix
• Acute pelvic inflammatory disease
• Uncomplicated cystitis
• Complicated urinary tract infections
• Prostatitis
Indicated In :-
• Respiratory infections like pneumonia, acute and chronic bronchitis, and bronchopneumonia
• ENT infections like tonsillitis, pharyngitis, sinusitis and otitis media
• Skin infections like folliculitis, furuncles, cellulitis, carbuncles, pyoderma, impetigo and infected dermatitis
• Genital infections like urethritis, prostatitis, cervicitisand salpingitis
Indicated In :-
• Dyspepsia
• GERD
• Nausea associated with acid peptic disorders
• Post-operative nausea and vomiting
• Chronic gastritis
Zydol Suspension
(Nimesulide )
Indicated In :-
• Osteoarthritis
• Postoperative trauma
• Sports injuries
• Acute musculoskeletal disorders
• Diagnostic procedure pain
• Tendonitis, tenosynovitis, sprains, strains and low back pain
• Ear, nose and throat disorders
• Dental surgery
• Thrombophlebitis
• Pharyngitis
• Gynaecological disorders
Zydol Tablet
(Nimesulide )
Indicated In :-
• Osteoarthritis
• Postoperative trauma
• Sports injuries
• Acute musculoskeletal disorders
• Diagnostic procedure pain
• Tendonitis, tenosynovitis, sprains, strains and low back pain
• Ear, nose and throat disorders
• Dental surgery
• Thrombophlebitis
• Pharyngitis
• Gynaecological disorders