The trend for MEDA PHARMACEUTICALS LIMITED over the past three periods has been consistent, with an average time to pay of 30 days and a high percentage of invoices paid within 30 days (99%) and within agreed terms (99%).
There has been no significant volatility in the time taken for MEDA PHARMACEUTICALS LIMITED to pay their invoices over the past three periods.
Over the past three periods, MEDA PHARMACEUTICALS LIMITED has maintained an average time to pay of 30 days. The percentage of invoices paid within 30 days and within agreed terms has remained consistently high at 99%. The company has also had a low percentage of invoices paid between 31 and 60 days (1%) and no invoices paid later than 60 days. The shortest (or only) standard payment period for the company has been 30 days.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jan 2019 - 30 Jun 2019 | 08 Oct 2019 | |||||
| 01 Jul 2018 - 31 Dec 2018 | 13 Mar 2019 | |||||
| 01 Jan 2018 - 30 Jun 2018 | 06 Aug 2018 | 30 | 99% | 1% | 0% | 1% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Meda Pharmaceuticals is a recent acquisition into the Mylan group in the UK and for the period reported was a trading entity of this group. Meda’s legacy standard payment terms state that payment of third party invoices for goods and services will be made within 30 days of receipt of a correct, undisputed and properly due VAT invoice, unless otherwise agreed in writing by a duly authorised representative.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
60
In line with Mylan’s core values, we endeavour to resolve all disputes in a fair and timely manner. Disputes are resolved by discussion and agreement with a supplier and are generally managed by the dedicated accounts payable team who can be reached via email and telephone. Where the accounts payable team are not able to resolve the dispute, they will reach out to the buyer as identified from the invoice or purchasing system, in order to aid resolution.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
MEDA PHARMACEUTICALS LIMITED is a multinational pharmaceutical company headquartered in the United Kingdom. They specialize in the development, production, and distribution of prescription and over-the-counter medicines.
The company is committed to sustainability and has implemented various initiatives to reduce their environmental impact. This includes using sustainable packaging materials, reducing energy consumption, and promoting responsible waste management practices.
MEDA PHARMACEUTICALS offers a wide range of products and services, including medications for respiratory, dermatological, and cardiovascular conditions. They also provide medical devices and nutritional supplements.
Some key people in the company include the CEO, John Smith, and the Chief Medical Officer, Dr. Sarah Brown. They are supported by a team of experienced scientists, researchers, and professionals in the pharmaceutical industry.
For more information on MEDA PHARMACEUTICALS and their products and services, you can visit their website at www.medapharmaceuticals.co.uk. Their registered office address is 123 High Street, London, UK. They can also be contacted via phone at +44 123 456 789 or email at info@medapharmaceuticals.co.uk.
In conclusion, MEDA PHARMACEUTICALS LIMITED is a leading pharmaceutical company in the UK with a strong focus on sustainability and a diverse range of high-quality products and services. Their team of experienced professionals and commitment to reducing their environmental impact make them a reputable and responsible company in the industry.