Strides Arcolab stops mfg operations in New Jersey facility
Strides Arcolab Limited, one of the leading global manufacturers of pharmaceuticals, today announced that its loss making manufacturing operation for OTC & Nutraceuticals for Soft Gelatin products in the US (conducted through its subsidiary, Strides Inc.) has been shut down.
The changing regulatory framework in the USA for OTC & Nutraceutical products does not make the plant viable anymore. The facility incurred an operating loss of approx. Rs.280 Mio (US$ 7.10 Mio) in the financial year 2007.
The Company continues to engage with interested parties on the disposal of the asset but the ceasing of the manufacturing operations will ensure the immediate reduction of losses in its operations in the USA.
The Soft Gelatin business continues to be attractive for Strides and its Indian Plant is fully geared to meet enhanced demand that will be relocated to India.
Sourced From: Adfactors Public Relations Pvt Ltd
Tags: calls, daytrading, free calls, intraday, tips
Similar Posts:
Latest Query
- by Sam
Market Stats
Search Our Archives
Research Desk
- Stocks Trading above their 50 day moving average - DMA In Stock Research
- Download free Ebooks based on Technical Analysis In Personal Training
- TOP 100 Stocks with the Highest P/E as on July 14th, 2013 In Stock Research
- TOP 100 Stocks with the Lowest P/E as on July 14th, 2013 In Stock Research
- Charting Pathsala - Your guide to Techincals In Technical Analysis
