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Latest News
Wallace enters South Korea
Wallace Pharmaceuticals' has recently been granted approval by the South Korea Food and Drug Administration for Ondansetron Syrup. Ondansetron is a 5-HT3 (Serotonin / 5-Hydroxytryptophan) receptor antagonist.
The manufacturing unit in Ponda Goa was recently inspected and approved. The product under the brand name Vomiset Syrup has been registered, and the company will immediately commence marketing and distribution for this product in the South Korean market.
A good demand is expected for this product in the years to come.
Wallace products can now be found in over 20 countries in Africa, Asia & Latin America. With substantial product registrations already completed and more in the pipeline Wallace will continue to significantly improve the reach, availability and contribution from International markets.
Wallace enters 3 new markets
Wallace Pharmaceuticals' has recently been granted several product approvals by the Hong Kong FDA, the Cambodia FDA and the Uzbekistan FDA.
The Hong Kong FDA has approved Pantoprozole tablets. Pantoprozole is a Proton Pump Inhibitor (PPI) given to relieve heartburn and other symptoms associated with the backflow of stomach acid into the esophagus, a condition commonly known as acid reflux disease. The product under the brand name Zanpan has been registered and the company will commence marketing and distribution immediately.
Ministry of Health, Kingdom of Cambodia has recently approved 7 products. The Ministry of Public Health of the Republic of Uzbekistan has approved 5 products. The company will commence marketing and distribution immediately.
Wallace products can now be found in over 20 countries in Africa, Asia & Latin America. With substantial product registrations already completed and more in the pipeline Wallace will continue to significantly improve the reach, availability and contribution from International markets.
CMM celebrates 100 years
CMM, the erstwhile parent company of Wallace Pharmaceuticals completed 100 years of business operations in August 2010.
In 1910, CMM was established by one of the twins late Cosme Matias Menezes with the opening of a drugstore in Panaji, the capital of Portuguese ruled Goa. The drugstore expanded to two, then three. It grew and multiplied into many all over Goa to become the biggest importer next to Burmah-Shell in pre-liberation Goa for brands like Cow & Gate, Kruschen Salts, Ciba, Sandoz, Eli Lilly, Johnson & Johnson and many others.
In the 1960's, with the liberation of Goa and its amalgamation into India, the group diversified from trading into manufacturing through joint ventures with Beiersdorf AG, Germany, Shulton Inc., USA and Carter Wallace Inc., USA. In 1963 the foundation stone for the first plant was laid; the plant went on stream in 1967. During the 1960's Goa's first air travel agency, Menezes Air Travel was formed.
Over the next three decades the Group grew and expanded over India and neighbouring countries. In the mid 1990's, the patriarch of the CMM Group, Mr. Pascoal Menezes handed over the leadership and shareholding of the various companies to his children.
Today apart from the Wallace Group of companies which includes Wallace Pharmaceuticals, Indi Pharma and Goodwin Bio Inc., other major companies in the CMM Group are CFL Pharmaceuticals, Colfax Laboratories, Beiersdorf India, Menezes Chemicals, Elvina Pharmaceuticals, Jordan Dental Care Products, B Braun Medical, Schiffer Menezes Dental Care Products Ltd, Cosme Matias Menezes Trading and Menezes Cosmetics.
Cesar Menezes elected New GCCI President
Mr. Cesar Menezes has been unanimously elected as the President of Goa Chamber of Commerce and Industry (GCCI) for 2009-2011.
Mr. Menezes is the Chairman and Managing Director of Wallace Pharmaceuticals Pvt Ltd and Wallace Laboratories Pvt. Ltd. He is also the Chairman of Indi Pharma Pvt Ltd and Wallace USA, LLC which owns Goodwin Biotech Inc, Florida, USA. A well known figure in Goa, he is the President of the Goa Management Association, Goa Yachting Association, Board Sailing Association of India and Council member of the Yachting Association of India.
He has been the past president of a number of other associations including the GPMA. He heads a number of Charitable Trusts which do a lot of social service.