Elder Pharmaceuticals Ltd is one of the fastest growing pharmaceutical companies in India. The company's principal activities include the manufacturing and marketing of prescription pharmaceutical brands, surgical and medical devices. They are engaged in the manufacture of a wide range of pharmaceutical product through research and development and also in the manufacturing and marketing of diverse products through licensing agreements with international pharmaceutical companies. They are also engaged in the manufacturing of active pharmaceutical ingredients.
Elder Pharmaceuticals Ltd was incorporated on April 2, 1983 in Maharashtra. The company started their commercial activities in the year 1988. In the year 1989, they commissioned their first factory in Navi Mumbai. The company was converted into a public limited company in August 1998. Over the years, the company launched the medicines either through their own research or through alliances with global companies.
The company entered into strategic alliances with a number of international pharmaceutical entities for marketing their products in India and overseas international acquisitions have strengthened and enabled the company to become a true-global pharmaceutical company. They made the tie up with Haw Par, Singapore during the year 1994 and Fujisawa during the year 1998.
During the year 2000-01, the company entered into joint venture agreement with Stiefel Laboratories Inc. Also they made a tie up with Paul Hartmann of Germany for marketing their incotinence and wound healing in India.
During the year 2002-03, the company made a tie up with an American company namely, Blistex Inc, for license manufacturing and distribution of their Lip Care products. The company entered into technical/ marketing collaborations with Covex and Ferrer of Spain for their products for Cognitive disorders, Cerebral strokes and Head injuries, Tanabe Seiyaku and Fujisawa of Japan for their products for Hypertension and Heart Failure and TRB Chemeica of Switzerland for their product for Osteoarthritis.
During the same year, the company entered into new joint venture agreement with the Universal Group of Companies, Nepal for setting up a pharmaceutical formulations plant in Nepal. In March 2003, they started their operation in their Bulk Drug plant at Patalganga.
During the year 2004-05, the company acquired an international brand 'Tobraneg' from Ely Lilly and company of USA at a price of Rs 172.50 lakh. During the year 2005-06, they commissioned one of their new manufacturing units at Sela Qui in Uttarakhand, which is equipped to manufacture tablets and capsules. The company introduced 'Somazina', a neuroprotector during the year.
During the year 2006-07, the company introduced Eldervit ZC, Redirinse, Nedge, Bonviva and Deviron in the market. Also, they entered with the alliances with Roche of Switzerland for their product 'Bonivini', Daiwa of Japan for their product 'Biobran' & 'NKCP', Enzymotec of Isreal for their product 'Cardiabeat' and Almirall of Spain for the product 'Cinitapride'.
The company commenced commercial production of manufacturing of topical formulation in their plant at Paonta Sahib in Himachal Pradesh during the year. They commissioned a betalactum plant in Nepal through a joint venture with Universal Pharmaceuticals. The company also entered into joint venture with Vincom Pharmaceuticals in Ghana for Oral Liquid dosages. In January 2007, the company established a wholly owned subsidiary, called Elder International FZCO in the Jebel Ali Free Trade Zone, Dubai.
During the year 2007-08, the company got associated with Cymbiotics of California, USA for marketing six of their patented products for Diabetes, Chrobnic pain, Skin Care, etc. and Gnosis of Italy for marketing of 'Sampure'. They formed a wholly owned subsidiary in Cyprus by the name Somerta Holdings Co Ltd with a capital of Euro 5000.
The company through their wholly owned subsidiary, Elder International FZCO acquired a 21% stake in Neutrahealth PLC, an AIM London Stock Exchange listed company and also established a wholly owned subsidiary in Bulgaria by the name 'Elder Biomeda EDA' with the object of acquiring 100% stake in three Biomeda Group companies for the total investment of Euro 3.12 million.
The company was awarded Amity Corporate Excellence Award for the year 2008 and Frost & Sullivan Market Leadership Award for 'Shelcal' for the year 2008. They have been named in the Forbes list of 'Asia's 200 Best under a billion' over a period of three years.
In November 2008, the company entered into a deal with Japan's Daiwa Pharmaceuticals Co Ltd for manufacturing and marketing of some of their products in India. Also, they acquired 100% stake in three Bulgarian pharma companies through their wholly owned Bulgarian subsidiary Elder Biomeda EAD.