Strides Arcolab Ltd (Strides), a Bangalore based Rs 725 crore pharma major, has decided to undertake major restructuring of its operations into three new entities viz, Specialty Pharmaceuticals, Pharmaceuticals and R&D after the necessary approvals.
Under its reorganization programme, the company is de-merging its specialty pharmaceutical business into a wholly owned subsidiary called Strides Specialties Pvt Ltd and R&D business into a wholly-owned subsidiary Strides Technology and Research Pvt Ltd. Its pharmaceutical business will remained as Stride Arcolab Ltd.
Arun Kumar, Group CEO, said, "The reorganisation of business is a major step to attain greater efficiency and accountable customer focussed business units, while still retaining the aggressive and entrepreneurial spirit of Strides. Both our business units will be backed by a strong and independent R&D function."
He further stated, "The new reorganisation design will ensure an aggressive growth, anchored by specific business strategies and led by an experienced pool of human capital."
Strides has manufacturing facilities in Bangalore, India and overseas facilities in Milan, Warsaw, Singapore and Lagos. The Indian manufacturing facilities are approved by all major regulatory bodies, Strides employs approximately 2500 people across the globe. Strides also has a marketing presence in over 50 countries.