CDR okays Kopran debt recast

The healthcare company hopes to significantly reduce the interest rates on its long term debt and working capital borrowings from 13.5 per cent to 9 per cent.

The long-term loan is rescheduled to be paid off by 2009. Additional working capital will also be released to meet the planned growth in the company's business.

Kopran hopes the debt revamp will not only help the company improve its profitability but also enable it to implement its growth plans, both in terms of turnover and profits.

The company recently underwent a management and business restructuring by re-engineering its business processes and inducting a professional team.

Kopran is currently working towards increasing its therapy area coverage by entering the high growth anti-diabetes and life-style product segments and expanding its presence in the cardiac care area.

The company received an approval for its Roxithromycin antibiotic, the patent for which expired in France in August 2003.

Kopran has a strategic alliance with Helm AG of Germany for the distribution of Roxithromycin, which market is estimated at around $ 124 million.