Elder Pharma to sell Indian brands in European market
June 7th, 2011 - 9:34 pm ICT by IANSBangalore, June 7 (IANS) Drug maker Elder Pharmaceuticals Ltd will soon roll out its leading Indian brands in the European market through its subsidiaries in Britain and Bulgaria, to step up its exports in the region, the company said Tuesday.
“We plan to launch five products in Europe during this fiscal (2011-12) through our Bugarian subsidiary Elder Biomedia, which has secured approvals to market them in the region,” Elder Pharmaceuticals director Alok Saxena said in a statement.
Of the five products to be exported, Shelcal, a calcium supplement for women, is one of the largest selling pharma brands in the country, contributing Rs.200 crore to the company’s sales turnover of Rs.800 crore in fiscal 2010-11.
The Rs.800-crore Delhi-based Elder plans to double its export revenue to 20 percent over the next two years from 10 percent last fiscal by foraying into the European market in a big way.
“We plan to unveil about 40 products in the domestic and overseas markets for pain management, women healthcare, skin care and neutraceuticals. Of these products, five will be in-licencesed products of multinationals,” Saxena said but did not name the multinationals.
Women’s healthcare and supplement food products (nutraceuticals) segments at 18-20 percent annually in the domestic market as against 12-13 percent growth of the overall pharma sector, the statement noted.
The company has seven manufacturing plants in located in Maharashtra, Uttarakhand and Himachal Pradesh. Its research and development centre at Navi Mumbai is recognised by the department of scientific and industrial research under the ministry of science and technology.
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Tags: alok, biomedia, calcium supplement, crore, elder pharmaceuticals, export revenue, himachal pradesh, indian brands, management women, manufacturing plants, multinationals, neutraceuticals, overseas markets, pharma sector, rs 200, rs 800, s sales, sales turnover, saxena, uttarakhand