Elder Pharmaceuticals Explained

Elder Pharmaceuticals
Type:Public
Foundation:[1]
Founder:Jagdish Saxena
Location City:Mumbai, Maharashtra[2]
Location Country:India
Industry:Pharmaceuticals, Drugs & healthcare
Products:Medicines and Vaccines
Revenue: ₹ 16,743 million (2013)[3]
Operating Income: ₹ 823 million (2013)
Net Income: ₹ 937 million (2013)
Assets: ₹ 24,924 million (2013)
Equity: ₹ 7,691 million (2013)
Num Employees:4300[4]
Subsid:NeutraHealth,[5] Elvista[6]
Homepage:https://elderpharma.com/

Elder Pharmaceuticals Ltd is a pharmaceutical company headquartered in Mumbai, Maharashtra.[7] Its main activities include the manufacturing and marketing of prescription pharmaceutical brands, surgical and medical devices. Its largest presence in three therapeutic segments, Women's Healthcare, Wound Care and Nutraceuticals. It has 6 manufacturing plants in India & 1 in Nepal. It manufacture various dosage forms like tablets, capsules, syrups, injectables, topical creams and ointments.[8]

History

In 1989, Jagdish Saxena formed Elder Pharmaceuticals in Mumbai when he lost his job due to the shut down of the pharma division of a company for which he was working. The first manufacturing plant was set up in 1989 at Nerul. It was listed on Bombay Stock Exchange and National Stock Exchange in 2000. [9]

In 2010, the company acquired the UK-based supplements company NeutraHealth for £12.2 million.[10]

On 13 December 2013, Torrent Pharmaceuticals signed a definitive deal to acquire Elder Pharmaceuticals' branded domestic formulations business in India and Nepal for 2,000 crore.[11] Even after the sale, Elder Pharmaceuticals faced a debt crisis.[12] In 2016, the company was delisted from the stock exchanges on account of non-compliances.[13]

In October 2013, founder Jagdish Saxena died.[14] In October 2017, the MD Alok Saxena died at the age of 52.[15] The promoter group was later led by Jagdish Saxena's second son Anuj Saxena, a former TV actor, and daughter Shalini Saxena Kumar, an entrepreneur.[16]

External links

Notes and References

  1. Web site: Elder : Corporate - Introduction . Elderindia.com . 8 January 2011 . dead . https://web.archive.org/web/20101229130352/http://elderindia.com/Corporate.asp . 29 December 2010 . dmy .
  2. Web site: Elder Contact . Elderindia.com . 8 January 2011 . dead . https://web.archive.org/web/20101216001446/http://elderindia.com/contact.asp . 16 December 2010 . dmy .
  3. Web site: BSE Plus . moneycontrol.com . 21 December 2020 .
  4. Web site: Elder Pharma hiring 1,000 sales staff to tap India's rural market, pharma jobs in India Elder Pharma employment | DWS Pill Scribe . Dancewithshadows.com . 19 April 2010 . 8 January 2011 . https://web.archive.org/web/20100426121912/http://www.dancewithshadows.com/pillscribe/elder-pharma-is-hiring-1000-sales-staff-to-tap-indias-rural-market-reports/ . 26 April 2010 . dead .
  5. News: Elder Pharma to buy UK's NeutraHealth for $19.1 mn - Corporate News . Mint . 16 September 2010 . 8 January 2011.
  6. News: Elder Pharma backs out of Ghana venture - Money . Daily News and Analysis. 15 January 2010 . 8 January 2011.
  7. News: Elder Pharma gets Japanese approval for API facility . Business Standard India . Business-standard.com . 3 January 2011 . 8 January 2011. Press Trust of India .
  8. Web site: How Elder Pharma was born . Rediff.com . 31 July 2004 . 8 January 2011.
  9. Web site: Elder: Corporate History /Corporate Background . Elderindia.com . 8 January 2011 . dead . https://web.archive.org/web/20101216030535/http://elderindia.com/corporate_history.asp . 16 December 2010 . dmy .
  10. News: NeutraHealth to be bought by India's Elder Pharma . 31 August 2023 . Reuters . 16 September 2010 . en.
  11. News: Torrent Pharma to buy Elder's India business for Rs 2,000 cr . 31 August 2023 . Business Standard.
  12. News: Rebello . Joel . Balakrishnan . Reghu . Elder Pharma to sell assets to clear debt . 31 August 2023 . mint . 11 September 2015 . en.
  13. News: Elder Pharmaceuticals drops after NSE announces trading suspension . 31 August 2023 . Business Standard.
  14. Web site: The Visionary Entrepreneur of Elder Pharma late Jagdish Saxena was a man of emotions & a compassionate leader. Remembering the leader! – Indian Affairs. 6 May 2015 .
  15. News: Elder Pharma CMD Saxena passes away. Reghu. Balakrishnan. Business Standard India . 10 October 2013. Business Standard.
  16. News: Elder Pharma MD passes away, shadow over company intensifies . 31 August 2023 . BusinessLine . 23 October 2017 . en.

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