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Strides Arcolab Ltd

BSE: 532531 | NSE: STAR ISIN: INE939A01011
Market Cap: [Rs.Cr.] 7,399.54 Face Value: [Rs.] 10
Industry: Pharmaceuticals - Indian - Bulk Drugs & Formln

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Company Profile

Strides Arcolab Ltd is an integrated manufacturer and exporter of finished pharmaceutical dosage forms for both branded and generic. The company manufactures a very wide spectrum of ethical pharmaceutical products, OTC products and nutraceuticals. Their dosage forms range includes tablets, capsules, soft gelatin capsules, parenterals and semi-solids. They undertake contract research and manufacturing of specialty chemicals. The company has 13 plants in India, Singapore, Brazil, Mexico, Poland and Italy. Strides Arcolab Ltd is among the top-15 pharmaceutical companies of India. They are among the world's top 5 soft gelatin capsule manufacturers. They have partnership agreements with more than 10 of the top-50 global pharmaceutical majors across Australia, South Africa, the EU, and the USA. They have their marketing presence in 55 countries. This broad network facilitates partnering with global organisations ranging from UNICEF, UNDP, Global TB Drug Facility, The Clinton Foundation to European and American Pharma giants and even private labelers and distribution chains. Strides Arcolab Ltd was incorporated in the year 1990. In just over a decade, Strides Arcolab has grown phenomenally to become one of India's largest exporters of pharmaceutical formulations. During the year 1999-2000, the company established Pentagon Exim, a 100% subsidiary in UAE to accelerate entry into new markets. They incorporated Strides Inc, a 100% subsidiary in USA. The company also acquired the toll manufacturing company, namely Caryl Laboratories Ltd during the year. During the year 2001-02, Bombay Drugs & Pharmaceuticals Ltd was amalgamated with the company. The company also acquired 51% stake in Infabra Industria Farmaceutica Brasileria Ltda, Brazil. Arcolab SA, Switzerland became a wholly owned subsidiary of the company during the year. During the year 2002-03, the company signed an MoU with Ribbon SRL Italy for setting up a 50:50 joint venture to manufacture and market Cephalosporin formulations for the regulated markets. Strides Latina, Uruguay and Strides Research & Specialty Chemicals Ltd became the subsidiaries of the company. The company transferred the Contract Research and Manufacturing Division (CRAM) to their wholly owned subsidiary Strides Research & Specialty Chemicals Ltd with effect from April 1, 2002. During the year 2003-04, the Latam operations in Brazil and Mexico operations were merged into Strides Latina and the company entered into strategic agreement with Latam partners to acquire controlling stake. They also commenced production in their Solid Dosage facility in Vittoria, Brazil to cater to domestic demand. Caryl Laboratories Ltd, a wholly owned subsidiary of the company was amalgamated with Global Remedies Ltd another wholly owned subsidiary of the company. During the year, the company set up a 50: 50 Joint Venture in collaboration with Akorn Inc, US to market products for the hospital and retail market in the US. The company also incorporated Quantum Life Sciences Pvt Ltd as a 100% subsidiary for implementation of their Cephalosporin Project at Bangalore. In the year 2005, the company established a new technology centre christened STAR-Strides Technology and Research. Also, they expanded the Anti TB Facility at KRS Gardens, Bangalore. The company increased their stake in Strides Latina SA, Uruguay from 40% to 52.5%% in February 2005 and further increased to 67% in May 2005. In May 2005, the company acquired 90% stake in Medgene Pharmaceuticals Pvt Ltd, a Hyderabad based biotech and biopharmaceuticals company at a cost of 5.25 million. In December 2005, the company acquired Strides Arcolab (UK) Ltd in the UK at a cost of GBP 1000. In the year 2006, the company through their wholly owned subsidiary, Strides Arcolab International Ltd acquired 70% stake in Beltapharm SpA, Italy, a pharmaceutical manufacturer and 100% stake in Fabryka na Daniszewskiej sp.z o.o., (later renamed as Strides Arcolab Polska sp.z o.o.,) the Polish manufacturing facility of ICN Valeant. The company acquired 100% stake in Drug Houses of Australia (Asia) Pvt Ltd, a leading player of branded generic pharmaceutical products in Singapore with presence in Malaysia and Hong Kong. This acquisition was made through Strides Singapore Pte Ltd, a wholly owned subsidiary of Strides Arcolab International Ltd, UK. During the year, the company entered into a definite agreement with Accu-Break Pharmaceuticals Inc, USA to set up a worldwide joint venture company named Accu-Strides, to develop generic products. The company entered into an agreement with Invent Pharma, Spain for the development and supply of injectible products to a joint venture company for marketing in Spain and Portugal. Also, they agreed to enter into a joint venture agreement with Turkey's leading pharmaceutical company Abdi Ibrahim Pharmaceuticals to be named Abdi-Strides, to introduce a range of specialty pharmaceutical products developed by Strides for Turkey and neighboring markets. In the year 2007, the company acquired 99.59% stake in Grandix Pharmaceuticals Ltd, a branded pharmaceutical company in India. The company through Arcolab International Ltd, UK incorporated Strides Arcolab Hong Kong Ltd, Hong Kong, Strides Arcolab Malaysia SDN BHD, Malaysia and Strides Arcolab Sdn Bhd, Brunei in Asia. Strides Italia s.r.l. was incorporated as a wholly owned subsidiary of Strides Arcolab International Ltd, UK for acquiring the USFDA approved fermentation facility of Diaspa s.p.a., Italy. The company also acquired 74% stake in Strides Vital Nigeria Ltd, Nigeria, through their wholly owned subsidiary Strides Africa Ltd. Sequent Scientific Ltd ceased to be a subsidiary of the company consequent to the sale of entire shareholding. As part of the international restructuring of operations, the company set up Starsmore Ltd, wholly owned subsidiary of the company and Linkace Ltd, the wholly owned subsidiary of Starsmore Ltd in Cyprus. As part of the broad and strategic partnership entered into with the Aspen Group of South Africa, Co-Pharma Ltd, UK, Formule Naturelle (Proprietary) Ltd, South Africa became the subsidiaries of the company. Also, Onco Therapies Ltd, a company incorporated for oncolytics business in India became a subsidiary of the company. In the year 2008, the company completed a series of divestments and acquisitions and rearranged their business on 3 specific business segments, namely Manufacturing and Research and Development, International Front-ended Business-Generics and Brands and Nutraceuticals Business. As part of their continuous effort to concentrate and strengthen the core business the company divested their stake in Strides Italia S.r.l. In March 2008, consequent to Aspen Group acquiring 50% shareholding in Lakerose Ltd, Strides Latina SA, Uruguay, Cellofarm Ltda., Brazil, Solara SA De CV, Mexico and Casa de Representaciones Sumifarma CA, Venezuela ceased to be subsidiaries of the company. Quantum Remedies Pvt Ltd (QRPL), a company incorporated by Quantum Life Sciences Pvt Ltd, became a wholly owned subsidiary of the company. QRPL acquired assets of a 100% EOU at Palghar, Maharashtra to cater to the African Market. Strides CIS Ltd, Cyprus became a subsidiary of the company through Linkace Ltd, Cyprus. This company was formed for operating in the Ukrainian market. The company through Linkace Ltd acquired 55.46% stake in Ascent Pharmahealth Ltd, an ASX listed company. Consequent to the acquisition of Ascent Pharmahealth Ltd, Genepharm Australia Ltd, New Zealand, Genepharm Pty Ltd, Australia became subsidiaries of the company. In the second quarter ended June 2009, Strides Technology & Research Pvt Ltd became a wholly owned subsidiary of the company. Also, the company renamed one of their wholly owned subsidiaries Quantum Life science Pvt Ltd as Strides Specialties Pvt Ltd. In April 2009, the company announced a major corporate reorganization of their business involving splitting of their operations into three separate entities, namely Specialty Pharmaceuticals, Pharmaceuticals & R&D. The shareholders approved to sell the undertaking comprising Specialty Pharmaceuticals Business and Research and Development Business on a going concern basis, to Strides Specialties Pvt Ltd and Strides Technology and Research Pvt Ltd respectively with effect from July 01, 2009. The Pharmaceuticals Business to continue under Strides Arcolab Ltd. In May 2009, the company commenced commercial supplies of Oseltamivir capsules for Influenza-A (HIN1) virus also known as Swine Flu to various countries.

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Key Information

Key Executives:

Deepak Vaidya , Chairman

M R Umarji , Director

A K Nair , Director

P M Thampi , Director

Company Head Office / Quarters:

No 201 Devavrata Sector 17,
Navi Mumbai,
Phone : Maharashtra-91-22-27893199 / Maharashtra-
Fax : Maharashtra-91-22-27892942 / Maharashtra-
E-mail : info@stridesarco.com
Web : http://www.stridesarco.com


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