20 June, 2005: Elder Pharmaceuticals is planning to take over a formulation facility in India, even as the Rs 400 crore company, is planning to acquire foreign and local
Indian pharma brands. The buyout deals are likely to be finalised in another four months.
“This is under our expansion plans in dermatology, diabetes and cardiology, and the acquisition would also help in capacity expansion for formulations, Elder Pharma managing director Jagdish Saxena said.
Elder Pharma, which has recently tied up with Blistex Inc of the US, is into manufacturing and marketing of Blistex lip care products in India.
Elder Pharma, a leading player in therapeutic categories of women healthcare and dermatology, has also forayed into consumer market with the launch of a series of beauty care products.
As part of this, the company has launched a fairness cream 'Fair One' in association with beautician Shahnaz Hussain. The company is also marketing Tiger Balm in India for How Par of Singapore. It is also expanding its marketing network in Sri Lanka, Pakistan, Bangladesh and Myanmar apart from the India and Nepal in the South East Asia.
BY OUR PHARMA CORRESPONDENT