Elder to launch 8 drugs in CIS, European foray
Elder Pharma to foray in Commonwealth of Independent States and European market by launching eight drugs in the women healthcare, woundcare and nutraceutical segment.
By Khomba Singh, TNN |
NEW DELHI: Mid-size company Elder Pharmaceuticals plans to foray in the Commonwealth of Independent States (CIS) and European market by launching eight drugs in the women healthcare, woundcare and nutraceutical segment. The company is also in talks with several European and Japanese companies for marketing tie-ups to sell its products in their respective countries.
To start with, the company plans to launch eight drugs in the CIS countries in the next 3-4 months from its facility in Bulgaria, which it recently acquired. As Bulgaria is also a part of Europe, the company will also use the same facility as its base for its foray in the European market. The Indian company had recently acquired a 51% in Bulgaria-based Biomedia and also picked up 20% stake in Neutra Health PLC - a UK-based marketing company.
“One of our plant has just got operational and two other units in Himachal and Uttarakhand will start soon. We have applied for European Agency for the Evaluation of Medicinal Products (EMEA) approval for the three units and anticipate to get the regulatory nod within a year’s time, “ Elder Pharmaceuticals director (International) Alok Saxena said.
Additionally, the company has also initiated talks with several of its in-licensing marketing partners to sell its popular products in Japan and Europe. “We have marketing tie-up with 31 foreign companies to sell their products in India. We are in talks with many of them to market our products in their respective countries,” he added.
At present, only 5% of its Rs 500 crore revenue comes from the overseas markets. The company plans to increase it to 15% by 2009, which not include sales which may come from acquisitions. Currently, the company markets its drugs in South-East Asia and African countries. Going forward, the company plans to enter the US market once it sets its foot in the European market.
To start with, the company plans to launch eight drugs in the CIS countries in the next 3-4 months from its facility in Bulgaria, which it recently acquired. As Bulgaria is also a part of Europe, the company will also use the same facility as its base for its foray in the European market. The Indian company had recently acquired a 51% in Bulgaria-based Biomedia and also picked up 20% stake in Neutra Health PLC - a UK-based marketing company.
“One of our plant has just got operational and two other units in Himachal and Uttarakhand will start soon. We have applied for European Agency for the Evaluation of Medicinal Products (EMEA) approval for the three units and anticipate to get the regulatory nod within a year’s time, “ Elder Pharmaceuticals director (International) Alok Saxena said.
Additionally, the company has also initiated talks with several of its in-licensing marketing partners to sell its popular products in Japan and Europe. “We have marketing tie-up with 31 foreign companies to sell their products in India. We are in talks with many of them to market our products in their respective countries,” he added.
At present, only 5% of its Rs 500 crore revenue comes from the overseas markets. The company plans to increase it to 15% by 2009, which not include sales which may come from acquisitions. Currently, the company markets its drugs in South-East Asia and African countries. Going forward, the company plans to enter the US market once it sets its foot in the European market.
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