Take Solutions Ltd has formed a wholly-owned subsidiary, Navitas, for its life sciences sector. This is part of the company’s strategy to meet client demands and focus on innovation.
Navitas will offer advice, solutions and service in clinical, regulatory safety and content management areas.
No changeThe restructuring will not have any ramifications on Take Solutions’ shareholding.
The subsidiary has been formed to give the life science business, which contributes nearly 61 per cent of total revenue, a unique domain. Take Solutions reported revenue of ₹822 crore for the year ended March 31, 2014, said HR Srinivasan, Vice-Chairman and Managing Director, Take Solutions. Of its 1,250 employees, nearly 500 are in the life sciences sector and the rest mainly in the supply chain domain, Srinivasan told newspersons on launching Navitas.
The company has recruited four key industry veterans overseas in the life-sciences domain, said Srinivasan.
There is a demand in the global pharma/life sciences market for regulatory compliance and customised solutions.
The total addressable market for the life science industry is around $16 billion.
In the last 15 years, Take Solutions has worked with nearly 100 marquee life science companies such as Pfizer, Novartis, Merck and Cipla.