Strides Arcolab splits business

BANGALORE: Mid-sized pharma player Strides Arcolab has announced a corporate restructuring, which will see the company create two distinct wholly-owned subsidiaries covering the speciality pharmaceutical and research & development segments, respectively.

Speaking to ET, Mr Arun Kumar, Group CEO of Strides Arcolab, said, the restructuring would provide greater efficiencies.

The restructuring, subject to regulatory nod, will be effective January 1, 2009, and will see the creation of Strides Specialities and Strides Technology and Research.