Elder Pharma To Launch About 32-35 New Products Over The Next 30 Months
Of the various products underway, almost 8-9 self-researched products are in the pipeline in the women's health care & nutraceutcials segment each which together contribute almost 50% of the company's turnover.
- (1888PressRelease) June 09, 2011 - Mumbai, India - * The company's R&D centre at Navi Mumbai has been expanded and modernized and now has about 100 scientists.
The Rs 800 crore Elder Pharmaceuticals Limited ( http://www.elderindia.com ), manufacturer of superbrand calcium supplement ShelCal, plans to launch almost 3 dozen new products in the coming 30 months in niche therapeutic segments like female healthcare, osteoporosis, Dermatology, pain management, Cardiology, nutraceuticals, wound care and vitamin supplements. This will consist of a combination of in-licensed and own products although the larger focus will be on self-researched products.
The company has a state-of-the-art Research & Development Centre at Navi Mumbai which is recognized by the Department of Scientific & Industrial Research, Ministry of Science & Technology. The R&D centre has recently been modernized and expanded and now consists of about 100 scientists.
Says Alok Saxena, Director, Elder Pharmaceuticals Ltd, ( http://www.elderindia.com ) "We are looking at launching atleast 8-9 products each in the Women's healthcare & Nutraceuticals segments which are growing at an average of 18-20% annually - higher than the 12-13% growth rate of the overall domestic pharma industry. Our scientists are also working on new products, new drug delivery systems and combination therapies in niche therapeutic segments like osteoporosis, dermatology, cardiology, pain management, would care, vitamin supplements etc and we hope to launch atleast 3-4 new products in each of these segments." The balance launches will be in-licensed products. The company has earmarked an investment of about Rs 120-130 crore for this.
The company is also looking at the wound care & pain management segments which currently contribute about 16% to Elder's turnover and anticipated to grow at over 15% every year. The mantra in these segments will be launch of therapies which are non-invasive and having little or no side effects.
For Elder, major developments during FY 2011 were the hiking of stake in its overseas acquisitions viz Neutra Health plc of UK [to 100%] and Elder Biomeda of Bulgaria [to 92%] and getting accreditation from Ministry of Japan for its state-of-the-art plant at Patalganga (Maharashtra). Following the accreditation, Elder has developed two products going off patent in the Japanese market in 2014. One of the products is from the CNS (Cerebro Neuropsychiarty Segment) category and the second is from the GI (Gastro Intestinal) segment. Elder has already filed a PCT patent [an international patent application] for one of the advanced intermediates for the Japanese market and is in talks with Japanese generic companies for supply contracts.
Elder Pharma is targeting a turnover of Rs 1500 cr by 2013.
About Elder Pharmaceuticals Limited:
Elder Pharmaceuticals Limited [NSE: ELDERPHARM] has presence in niche therapeutic segments like Women's healthcare, Wound care, Nutraceuticals /vitamin Supplements, Cardiology, Diabetes, Dermatology, Antibiotics and CNS. It is the market leader in calcium supplements (Shelcal), wound healing and injectable B12 vitamin. The company also has substantial interests in Medical Devices and non-pharmaceutical medical products. The company has a judicious mix of drug formulations, and active pharma ingredients (APIs). It has 7 manufacturing plants in India located in Maharashtra, Uttarakhand & Himachal Pradesh. ( http://www.elderindia.com )
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