Granules India Ltd's board has approved an internal restructuring plan for its US subsidiaries, with no change in ultimate ownership or business nature in the US. This strategic move aims to optimize operations and enhance efficiency in the company's US market presence.
Granules has been steadily expanding its US footprint, with its US-based subsidiary Granules Pharmaceuticals Inc. (GPI) driving the company's US Generics strategy. The company has achieved significant growth in the US market, with a 25% CAGR over the past decade.
The restructuring aligns with Granules' focus on strengthening its core capabilities, driving innovation, and pursuing sustainability. It follows the company's recent success in expanding its finished dosages (FD) segment, which now contributes 64% to revenue, up from 50% in the previous fiscal year.
This development comes as Granules continues to invest in R&D and product diversification, with 16 new dosage formulations approved in FY 23-24.
Sources: BSE, NSE, Granules India Ltd website