Elder to strengthen existing brands following sale to Torrent
Indian drugmaker Elder Pharma (BSE:532322) has said it plans to strengthen its existing brands including Eldervit and Somazina, and build on its domestic business of anti-infectives, strengthen its in-license portfolio and grow its business in the UK and Europe.
This follows the company’s sale of its branded drugs business in India and Nepal to Torrent Pharmaceuticals, meaning around 30 brands moved across to Torrent after the March 31 deal.
It has appointed consulting firm Deloitte to help this strengthening and restructure the organization. Elder’s brand Eldervit and in-licensed brand Phydomega have been achieving healthy sales and the company expects them to be the major contributors to future success. Its anti-infective division has contributed more than 10% to the company’s total revenue and has been registering annual growth in excess of 12%.
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