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We have 4 issues for discussion under this agenda.
Firstly, CEO is looking for costing of Oncology
API as finished products so that we can set a price for selling it to other
companies and also we can use as raw materials to be used in our Oncology Solid Facility (ROSF) for Oncology FG products. He suggested us
yesterday to consider only variable cost. Could you please give us such costing
for all available API under Oncology API Facility (ROAF)? Currently
we have following 2 products in that facility for which we are interested to
know the costing:
- Sorafenib Tosylate 3.0 Kg (SOT)
- Sorafenib Tosylate INN
Secondly, if we want to use our Oncology API as raw
materials for Oncology FG products, do we need to conform any VAT formalities.
If so, please take relevant actions in the regard and also please give us
necessary training at warehouse end so that the operations get smoothen. Also
how to proceed when we would go for selling those API to other companies,
please?
Thirdly, we would like to sit with Pfizer Laboratories shortly where we would try to finalize the price for different
QA/AC service that they already enjoyed. Please assign someone who can raise
relevant financial concerns in that meeting. As soon as we know the meeting
schedule we will let you know.
Finally, It is a gentle reminder that we are still
looking for a regular source of item-wise cost information for our relevant
available inventory. Please let us know when the information is ready so that
we can plug in those to generate our monthly report of Inventory.
Responses:
1. As per our records, the total quantity produced during
2020-21 FY, in the said facility is only 19Kg of different APIs as against Tk.
14.69 million as variable expenses. Thus, Variable Overhead Costing around
Tk. 7.73 lac per KG as LOH excluding Material Cost is Tk. 0.90 lac per Kg. Both
the items will bear almost the same variable cost (Tk. 863000/Kg) with a
difference of Tk. 850 packaging cost.
2. No such VAT formalities until we use resources internally
through IOT. For external sales, VAT issues will be taken care of by us duly
after the Price Declaration of the saleable product. We will just need a copy
of Drug Annexure & Approved Price from FDA. You must sell the FG Item
Code: 510050008 through a Depot from where Sales Order will be created like
other general sales with DIMS in Legacy /Order Management in ERP. VAT Challans
will be issues as usual where no additional training is necessary from us.
3. A person will be assigned from our end to join the
meetings whenever you organize them with Pfizer.
4. ERP is a good regular source of information you are
looking for, as long as our users enter data accurately therein. You can
develop a report to pick the cost information from the system upon a discussion
with the ERP Consultants
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