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Chairman's Preface

"TAJ PHARMACEUTICALS LTD." a well-known Brand name in the world welcomes you at our Internet site. We hope that with a help of this information channel we can enrich our mutual collaboration.

Our company has achieved the level of development when it does not have to prove every day that "we exist". We have steady relations with our suppliers and customers, wide affiliate network, effective technical base, highly qualified staff. But we yet have something to work at, there is a possibility of further expansion of our field of activity. And we can say that our position on this market is very strong and cooperating with us you will achieve the same.

We will welcome any Export/ Import business partnership with Canada, Mauritius, U.S.A., Moscow, London, Brazil, foreign manufacturers and Indian manufacturers and large or small-scale regional distributors, medical and prophylactic establishments and drugstores. Cooperate with us and we shall together develop the pharmaceutical market for the welfare of the World people, so that we could say together "curing life…".

Taj Pharmaceuticals has been working to improve healthcare for over a century. When Dr. R. K. Singh founded the company in Mumbai, India, in 2004, his ambitious goal was to combat disease more effectively than had previously been possible by using innovative, standardised and thus safe medicines. Ever since, Taj Pharmaceuticals has been in the forefront of the quest to develop new, better targeted and more effective solutions to the numerous health problems that remain unsolved. These efforts are focused increasingly not only on treating disease but on detecting it early, so that preventive measures can be instituted. Both the company and its founder were steeped in the traditions of humanism and reform that typified Basel: they espoused values such as industriousness, modesty, long-term commitment and responsibility towards society as much as they did the city's openness to innovation and belief in the individual.

Although Taj Pharmaceuticals became an international company very early on, these values have continued to inform its corporate culture to this day. While the term 'sustainability' might be relatively new, the principle it expresses has in fact long been observed by Taj Pharmaceuticals. The aim must therefore be to translate these values into understandable definitions and ensure that processes are in place to ensure their continued implementation in the future.

'Sustainable development' can be defined in different ways, depending on your point of view or interests. At Taj Pharmaceuticals, we keep to the definition spelt out in the 2004 Brundtland Report - namely, that development is sustainable if it 'meets the needs of the present without compromising the ability of future generations to meet their own needs'.

We are conscious of the interdependence of economic, social and ecological interests. Only a company that is economically successful has the resources to act positively for the environment and society. Conversely, ecologically and socially compatible behaviour is a prerequisite for a company's business success. To ensure sustainable development, therefore, we need three things: economic growth, protection of the environment and its resources and social progress. Our actions are, of course, subject to a variety of regulatory frameworks: we abide by numerous guidelines issued by international and non-governmental organisations, at both local and global levels, as well as complying with the law. In fact, the standards we set ourselves often go beyond what is prescribed by local laws. Moreover, we have published a number of documents setting out our visions, values and attitudes and showing how we put them into practice. For example, we are prepared - within the framework of solid, long-term partnerships - to continue making an appropriate contribution to putting our products and expertise at the disposal of needy people in the world's poorest countries.

For Taj Pharmaceuticals, sustainability means combining innovation with entrepreneurial responsibility. Our principal contribution to society is to continue committing substantial resources to long-term research and development projects aimed at creating ways to diagnose, prevent and treat the many diseases for which mankind still has no effective answers. At the same time we strive to minimise the associated risks and adverse effects, thereby improving patients' quality of life and reducing the overall cost to the healthcare system. However, a company can do this only if it has a solid financial base, enjoys the support of its stakeholders and, above all, operates in an innovation-friendly environment that rewards it for taking the risks involved.

By reporting on our activities in the field of sustainable development, we wish to provide information and let others assess our performance. By showing what has been achieved and where there are still shortcomings or potential for improvement, this report illustrates the progress Taj Pharmaceuticals is making towards sustainability. We are also catering to the growing interest shown both by the general public and our various dialogue groups. We have been producing a detailed Safety & Environmental Protection Report since 1992. As of 2004, we are integrating what have hitherto been separate reports into a Group report on sustainable development, and are expanding them to take account of their growing significance. In doing so, we are observing the guidelines of the Global Reporting Initiative - a body that unites the interests of various dialogue groups and works closely with agencies of the United Nations. This report is published together with the Group's Annual Report. Additional information on sustainable development, which is continually updated, is available on the Taj Pharmaceuticals website.

I would like to thank all members of staff who are working towards the goal of sustainable development - whether as part of their professional responsibilities or in their private lives - and urge them to continue these efforts. Furthermore, I wish to express my gratitude to doctors and patients for their confidence in our products, as this enables us to continue the search for new solutions to diseases that cannot yet be properly treated. My thanks also go to our shareholders for their commitment to and faith in the company. Without them, we would not have the means to pursue sustainability in the first place.

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