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April 2, 2001
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Money > Business Headlines > Report April 2, 2001 |
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Rhone-Poulenc Rore, HMR merger by JuneRajesh Unnikrishnan The merger between Hoechst Marion Roussel India (HMR) and Rhone-Poulenc Rore India (RPR) would be completed by June. The merged company will be called Aventis India, keeping in line with the global merger between HMR and Rhone-Poulenc. The products as well as the manpower rationalisation of both the companies would be over by mid-April following which an extraordinary general meeting will be called for shareholders' approval. Ramesh Subrahmanian, managing director, HMR said: "An official announcement of Aventis India is expected by June and the entire restructuring undertaken by the company will get over by this month." In December last year, HMR acquired a 49.26 per cent stake in RPR for Rs 44 million from Rhone-Poulenc India (RPI). In India, Nicholas Pirmal has acquired RPI by picking up a 40 per cent stake. With the global merger between Rhone-Poulenc and HMR, Rhone-Poulenc Rore, which was a subsidiary of RPI, went to HMR India. Senior officials with HMR said the merger would add two more divisions -- oncology and anti-thrombosis -- to HMR. RPR has a strong presence in these segments with a market share of around 30 per cent. The company also has a good product portfolio of formulations such as Taxotere for breast cancer, Rhofenid for skeletal disorder and Campto for colorectal cancer and Clexane anti-coagulant for heart ailment. HMR has a strong presence in the anti-infectives, analgesics, cardiovascular, anti-diabetes and anti-allergy segments. Officials said with the commencement of Aventis India, the flagships under Hoechst, Marion and Roussel will be replaced under different divisions such as oncology and anti-diabetics. They said the new company will also introduce around six-eight new formulations this fiscal. The manpower revamp undertaken by the company during the last four years is also in the last lap. Last year, HMR has offered a voluntary retirement scheme to 100 employees in its marketing division. With the merger with RPR, another 100 RPR employees will be added to HMR, making a marketing force of 1500 employees. During the last six years, the company has given VRS to more than 30,000 employees.
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