Elder Pharmaceuticals

Elder Pharmaceuticals
Company typePublic
IndustryPharmaceuticals, Drugs & healthcare
Founded1989; 35 years ago (1989)[1]
FounderJagdish Saxena
Headquarters
Mumbai, Maharashtra[2]
,
India
ProductsMedicines and Vaccines
RevenueIncrease ₹ 16,743 million (2013)[3]
Increase ₹ 823 million (2013)[3]
Increase ₹ 937 million (2013)[3]
Total assetsIncrease ₹ 24,924 million (2013)[3]
Total equityIncrease ₹ 7,691 million (2013)[3]
Number of employees
4300[4]
SubsidiariesNeutraHealth,[5] Elvista[6]
Websitehttps://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

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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]

References

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  1. ^ "Elder : Corporate - Introduction". Elderindia.com. Archived from the original on 29 December 2010. Retrieved 8 January 2011.
  2. ^ "Elder Contact". Elderindia.com. Archived from the original on 16 December 2010. Retrieved 8 January 2011.
  3. ^ a b c d e "BSE Plus". moneycontrol.com. Retrieved 21 December 2020.
  4. ^ "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. Archived from the original on 26 April 2010. Retrieved 8 January 2011.
  5. ^ "Elder Pharma to buy UK's NeutraHealth for $19.1 mn - Corporate News". Mint. 16 September 2010. Retrieved 8 January 2011.
  6. ^ "Elder Pharma backs out of Ghana venture - Money". Daily News and Analysis. 15 January 2010. Retrieved 8 January 2011.
  7. ^ "Elder Pharma gets Japanese approval for API facility". Business Standard India. Business-standard.com. Press Trust of India. 3 January 2011. Retrieved 8 January 2011.
  8. ^ "How Elder Pharma was born". Rediff.com. 31 July 2004. Retrieved 8 January 2011.
  9. ^ "Elder: Corporate History /Corporate Background". Elderindia.com. Archived from the original on 16 December 2010. Retrieved 8 January 2011.
  10. ^ "NeutraHealth to be bought by India's Elder Pharma". Reuters. 16 September 2010. Retrieved 31 August 2023.
  11. ^ "Torrent Pharma to buy Elder's India business for Rs 2,000 cr". Business Standard. Retrieved 31 August 2023.
  12. ^ Rebello, Joel; Balakrishnan, Reghu (11 September 2015). "Elder Pharma to sell assets to clear debt". mint. Retrieved 31 August 2023.
  13. ^ "Elder Pharmaceuticals drops after NSE announces trading suspension". Business Standard. Retrieved 31 August 2023.
  14. ^ "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. ^ Balakrishnan, Reghu (10 October 2013). "Elder Pharma CMD Saxena passes away". Business Standard India – via Business Standard.
  16. ^ "Elder Pharma MD passes away, shadow over company intensifies". BusinessLine. 23 October 2017. Retrieved 31 August 2023.
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