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Organon (India) Ltd.

BSE: 532002 Sector: Health care
NSE: INFARINDIA ISIN Code: INE568A01018
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Organon (India) Ltd. (INFARINDIA) - Chairman Speech

Company chairman speech

ORGANON (INDIA) LIMITED [FORMERLY INFAR (INDIA) LIMITED] ANNUAL REPORT 2002-2003 CHAIRMAN'S REPORT Dear Friends, Over the last two years, as I have shared with you, we as an organization, have embarked on a path of structural changes in order to prepare for the challenges the pharmaceutical industry and its influencers are poised to place on us in the short term. In year 2003, one major task was to shift the corporate office to the country's pharmaceutical hub in Mumbai, and it is deeply satisfying that primarily through the commitment of our employees, this was accomplished smoothly and as per schedule. I am also happy that right through this process, we were able to find solutions for all our employees who relocated and also those who, for personal or other reasons, could not. Over the year 2003, we also worked on divestment of our formulation plant, a unit that we had purchased way back in the early seventies. There was an urgent need to make major investments in this facility which we were not in a position to do, pending finalisation of Organon s global manufacturing programme. We located a partner who were willing to make these investments, supply us our products through a contract manufacturing arrangement, and more importantly, take responsibility for all our people in that unit on existing terms and conditions. It is satisfying to note that, through the joint efforts, our intentions from the arrangement have now been converted to reality. Issues like the above, however, require major senior management attention and this impacted, to a certain extent, on-going current operations. Our overall financial performance, some silver linings notwithstanding,, was, after many years not upto our expectations. I do believe, however, that we have now established an organisational base from which we can consolidate and move ahead. The improved first quarter performance of this year, amply endorses my belief. Alongside the changes, our Company has also increased, over the years, its focus on quality, be it in the area of product manufacture, medical support, systems or management processes. The various certifications received for our units are carefully maintained. Health, safety and environment receive continuous attention. Latest innovation products from our international portfolio are being introduced for the domestic market. As further support, N. V. Organon has spelt out recently, its global policies on aspects of mission, vision, values and business principles - which are being systematically absorbed at all levels. The Company fully recognizes the long term benefits that will accrue from investments in these aspects. At this stage, I wish to also inform you that starting January of this year, I have been given responsibility for the Asia-Pacific region of Organon International. Consequently I resigned from the Managing Director's position effective end December, 2003. I wish to record here the very enjoyable and rewarding three years that I have had in India in general and the country's Organon operations in particular. At the request of the Board, however, I have agreed to continue as the Chairman. We in the Board are also pleased to have handed over Organon India's executive responsibilities to Mr. B. N. Chakraborty. Mr. Chakraborty has the requisite experience, skills and attitude to move the Company ahead and he enjoys the full support of our Board and myself. As for the current year, I see it as a year of consolidation - induct our new entrants and institutionalize the change processes. I am confident that these inputs, backed by our Company's inherent strength, will take us to greater success in the days ahead. P B J M Rohof May 08, 2004 Chairman