Strides Arcolab

From Wikipedia, the free encyclopedia
Strides Arcolab Limited
Type MNC (several JVs, and subsidiaries)
Industry Pharmaceutical
Founded 1990
Headquarters Bannerghatta Road, Bangalore, India
Key people Arun Kumar, K R Ravishankar, Deepak Vaidya (Chairman)Abir Mukherjee (chief executive officer)
Products soft gel, injectables, hard gelatin, solid dosage, sterile parenterals, tablets
Revenue Increase$ 295 million (2009)
Employees approximately 1750
Website www.stridesarco.com

Strides Arcolab is an Indian pharmaceutical company headquartered at Bangalore in southern India. Strides Arcolab Limited manufactures a range of ethical pharmaceutical products, over-the-counter products and nutraceuticals. The company's products include softgel capsule, hard-gel capsules, tablets and dry and wet injectables. It is one of the largest softgel capsule manufacturer in the world. Its softgel manufacturing capability consists of annual capacity of 50,000 machine hours or about three billion softgel capsules. The company has 15 manufacturing sites in six countries and marketing presence in 50 countries. In the United States and Canadian markets, the company partners with generic companies to supply retail and hospital generics in injectable products and softgels. In European markets, it has long-term relationships for the development of projects and supply agreements with the European companies. In Australia and New Zealand, the company is engaged in manufacturing and supply of soft gels and value-added manufacturing. The company has development and supply agreements with South African companies.

Indian plants

In India the company operates eight pharmaceutical plants:

Anekal plants - The company has three plants at Jigni in the taluka of Anekal in the southern part of the Bangalore metropolitan area. One plant makes soft gelatin capsules. Another makes tablets and hard gelatin capsules. And a third makes anti-TB medicines. OTL (onco theraputics limited )- near boomsandra industrial area. SFF (sterile formulation facility)-near boomsandra industrial area.

Sterile products and antibiotics plant complex - This plant complex is located at Bilekahalli, on Bannerghatta Road in southeastern Bangalore City bangaluru.

Specialty chemicals plants - The company operates specialty chemicals plants at Baikampady in the New Mangalore area of Mangalore, at Panoli in Bharuch District of western Gujarat, and at Boisar, in Thane District of Maharashtra state.

STAR - Strides Technology & Research - the R&D centre at Bannerghata Road (opp. IIM-B, Bangalore)

Recent Landmark: On December 5, 2013, Strides Arcolab Limited (BSE: 532531, NSE: STAR)announced that it has completed sale of its Agila Specialties Division to Mylan Inc. (NASDAQ:MYL)for a total consideration of up to USD 1.75 Billion. Since the initial announcement of this transaction the Board of Directors approved final transaction terms to include the following: 1. A hold back of USD 250 Million contingent upon satisfaction of certain regulatory conditions. Consequent to the Warning Letter received by the Company for one of its units in Bangalore, Strides has agreed to a hold back of USD 250 million, which will be contingent upon satisfaction of certain regulatory conditions related to the injectable facilities in India. The Company expects those contingent conditions will be satisfied sometime in 2014. 2. Since the initial announcement of this transaction, Strides now expects an additional expenditure of USD 150 million. This includes cost towards acquisition of additional assets from its erstwhile partners and an estimated remediation cost related to its regulatory commitments post the warning letter.

Commenting on the transaction, Arun Kumar, Founder & Group CEO said “We are delighted with the conclusion of this transaction and are confident that Agila will play a significant role in Mylan’s growth strategy to become a global injectable leader. I am personally delighted that Mylan’s passion for its people will augur well for all the 1800 plus employees of Strides Group who are becoming part of the Mylan family with this acquisition”. The Company will release its final distribution details post the board meeting on December 10, 2013. Jefferies International acted as exclusive financial advisor to Strides Arcolab on the sale of Agila. Moelis & Company acted as independent financial advisor to the Board of Strides Arcolab and also provided a fairness opinion in connection with the transaction.” Herbert Smith Freehills LLP and DSK Legal acted as the Company’s legal counsels on the transaction.

Non-Indian plants

USA - The company has a soft gelatin capsule plant at Somerset, New Jersey, USA.

Brazil - The company has a plant at Serra, Espirito Santo

Mexico - The company has a plant at Chapultepec.

Europe - The group recently acquired two companies: one in Italy (Beltapharm S.pA) and the other in Poland (now Strides Polska).

Singapore- Strides Arcolab Acquired DHA,which is a wholly owned subsidiary of Haw Par Healthcare Limited, Haw Par Healthcare and is a leading player of branded generic pharmaceutical products in Singapore with presence in Malaysia and Hong Kong. This acquistition includes a GMP certified manufacturing facility in Jurong, the industrial heartland of Singapore which manufactures a range of pharmaceutical products.

Poland - This plant is through the acquisition of the former ICN Valeant sterile manufacturing unit in Warsaw, Poland

Capital markets

Strides Arcolab's stock trades on the Bombay Stock Exchange and on the National Stock Exchange of India

Global Disease Initiative

Strides is a significant global player in the international market for quality generics to fight HIV/ AIDS, TB and malaria. Strides Arcolab Ltd has tied up with the Clinton Foundation to make available a range of affordable anti-retroviral drugs for the treatment of HIV / AIDS in countries that are under the aegis of the Clinton Foundation HIV / AIDS initiative. Strides Arcolab is also in the list of World Health Organization pre-qualified suppliers to supply generic fixed dose combination of Anti-HIV drugs. Strides is one of the largest Indian suppliers of institutionally funded aid projects and is an approved supplier to the World Bank, the African Development Bank, PEPFAR President's Emergency Plan For AIDS Relief and UNICEF,amongst others.

Key People

  • Arun Kumar

Arun Kumar is the Founder and Promoter Director of Strides Arcolab Limited and has been on the Board as Managing Director since its inception. His in-depth knowledge of the pharmaceutical industry and astute business acumen has seen Strides make pathbreaking forays in the industry. Arun Kumar was earlier General Manager of British Pharmaceuticals Limited.

  • K R Ravishankar
  • Deepak Vaidya
    • Deepak Vaidya was appointed to the Board in January, 1998 and Chairman of the Board in December, 2005 .Mr.Vaidya is country head of Symphony Capital Partners (Asia)Pte.,Ltd., (previously known as M/s.Schroder Ventures Group), Mumbai, India and has got valuable corporate experience in the financial field in India and abroad

External links

Business Data

This article is issued from Wikipedia. The text is available under the Creative Commons Attribution/Share Alike; additional terms may apply for the media files.