Elder sews up tieups to double turnover

Elder sews up tieups to double turnover
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First Published: Fri, Feb 09 2007. 11 00 PM IST
Updated: Fri, Feb 09 2007. 11 00 PM IST
Mumbai: Elder Pharmaceuticals, which markets the products of several international firms in India, has signed four new marketing agreements that will take its current (2005-06) turnover from Rs400 crore to Rs1,000 crore by 2008.
Anuj Saxena, a director at Elder Pharma said that the company would introduce products from the firms before 31 March this year.
The four companies are Rovi Pharmaceutical Laboratories, a Spanish research firm, Farmaka SRL, one of Italy’s largest makers of prescription drugs, P.N. Gerolymatos SA, one of Greece’s largest pharmaceutical companies, and Germany’s Mapa GmbH.
“We also plan to undertake contract manufacturing for the partners,” said Saxena.
Elder’s terms of agreement with the four companies involve a fixed royalty for products being manufactured by it locally and a revenue share for those it imports and markets.
The alliance with Roci will allow Elder to introduce a blood clot removal drug, Hibor, in the Rs60 crore domestic market whilst the alliances with Mapa and Farmaka will allow it to target the Rs700 crore babycare, and the over Rs500 crore pain killer market.
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First Published: Fri, Feb 09 2007. 11 00 PM IST
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