Fermentation Process Advantages and Financial Highlights
Journey So Far
■ Established as joint
sector Company with
Govt of Gujarat for
fermentation business
for manufacture of
Erythromycin
■ Entered into JV agreement
with PBG Ltd & Yuhan
Corporation, South Korea to
manufacture Rifampicin
■ BIFR declared GTBL as sick
Company
■ Dr. Dinesh Patel stepped in as
Guarantor and Adviser
■ Themis Medicare Ltd entered as
promoter brought in technical
and managerial and unique
fermentation expertise
Repaid total
working capital
loan
■ Deregistration
complete since
the SICA, 1985 has
been repealed
■ Production
continues
despite
COVID-19
pandemic
1981
1984
1991
2003
■ Listed on Bombay
■ Started manufacture
Stock Exchange
of Lovastatin
2007-2009
2011-2015
2017-18
2019
2020
GB
2021
■ Started manufacture of
Rifamycin S an intermediate for
Rifampicin, running at full
installed capacity
■ Rehabilitation scheme approved
by BIFR
■ Net worth becomes positive
Changed its business
model from Contract
Manufacture to
Manufacture and sales
Model
■ Started sale of Rifamycin
O from September
■ Mutually strategic
decision to end
technological
partnership with
Yuhan Group-
currently in progress
6
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