The Rs 300 cr ELDER PHARMACEUTICALS LIMITED is setting up two formulations plants – one at Uttaranchal and one at Himachal. They shall be US FDA compliant and mainly serve the company’s international
August 31, 2005 (Press Release) --
Close on the heels of setting up a US FDA compliant, multi-product plant at Patalganga (Maharashtra), which commenced commercial operations in November 2004, the Rs 300 cr ELDER PHARMACEUTICALS LIMITED is setting up two formulations plants – one at Poanta Sahib in Uttaranchal and one at Baddi in Himachal. The plants to be set up at an investment of Rs 85-90 cr shall be US FDA compliant and mainly serve the company’s international customers. The plants are expected to commence commercial operations by the end of 2005-06. These investments would help Elder to boost exports and obtain more business from European and later US companies. The company is already in advanced talks with four European companies for outsourcing of APIs (Active Pharmaceutical Ingredients) and formulations. The expansion has been funded by issue of equity of preferential basis to various FIIs and from internal accruals.
Hitherto a strong domestic player, Elder Pharma is targeting an export turnover of over Rs. 100 cr by 2008. The primary export markets are Africa, Latin America and European Union. Says MR ALOK SAXENA, DIRECTOR (INTERNATIONAL), ELDER PHARMACEUTICALS LTD, “We are currently exporting APIs and formulations to over 25 countries and have initiated registration proceedings in another 25 countries”.
Elder Pharmaceuticals has presence in niche therapeutic segments like female healthcare, osteoporosis, pain management, nutraceuticals and vitamin supplements. The company is a market leader in calcium supplement market through its brand Shelcal, which is ranked 23rd amongst top 100 pharma brands in India. Adds MR ALOK SAXENA, DIRECTOR (INTERNATIONAL), ELDER PHARMACEUTICALS LTD “Elder is aggressively pursuing major growth on all fronts viz. International in-licensing Tie-ups, export markets, increasing capacities, entering into contract manufacturing alliances, acquisitions and deeper market penetration in South Asia.”
Elder’s strategy of focusing on niche segments has borne fruits and this shall continue to be its strategy in the years to come also.
Hitherto a strong domestic player, Elder Pharma is targeting an export turnover of over Rs. 100 cr by 2008. The primary export markets are Africa, Latin America and European Union. Says MR ALOK SAXENA, DIRECTOR (INTERNATIONAL), ELDER PHARMACEUTICALS LTD, “We are currently exporting APIs and formulations to over 25 countries and have initiated registration proceedings in another 25 countries”.
Elder Pharmaceuticals has presence in niche therapeutic segments like female healthcare, osteoporosis, pain management, nutraceuticals and vitamin supplements. The company is a market leader in calcium supplement market through its brand Shelcal, which is ranked 23rd amongst top 100 pharma brands in India. Adds MR ALOK SAXENA, DIRECTOR (INTERNATIONAL), ELDER PHARMACEUTICALS LTD “Elder is aggressively pursuing major growth on all fronts viz. International in-licensing Tie-ups, export markets, increasing capacities, entering into contract manufacturing alliances, acquisitions and deeper market penetration in South Asia.”
Elder’s strategy of focusing on niche segments has borne fruits and this shall continue to be its strategy in the years to come also.
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