Elder Pharma to launch 12 new products

Elder Pharmaceuticals is expected to make a presence in the drug market in the fiscal year of 2011 with the launch 12 new products for nutraceuticals, gynaecology, and pain management.

Joint Managing Director of Elder Pharma, Alok Saxena said, “We had targeted 15 products for this financial year, three have already been launched, and we are looking at another 12 products for the next three quarters. All the products are in the mandate and prescription market and we are targeting gynaecology, pain management, and nutraceuticals segments.”
Over the next tow years, the company plans to invest INR 55 crore in recruiting workforce in the sales division, enhancing R&D facilities, and brand building.

Saxena said, “We are looking at between INR 40-55 crore investments for these exercises.”

In a recent announcement, the drug firm is said to have plans to strengthen its sales and marketing division over the next 2 years by escalating the workforce by 1,000.

Saxena remarked that Elder Pharma is planning to widen its growth options in over-the-counter (OTC) drug segment since this aspect has negligible market presence at the moemnt.

He said, “This [OTC] is the segment which we are looking at and probably is an area of growth for us as we go forward.”
Saxena added, “The Indian [functional foods] market is estimated to be of Rs 4,400 crore. Elder already has a range of products for women care and we are identifying opportunities where we can fulfill all daily nutritional and medical needs for women.”

Elder Pharmaceuticals is a drug company that specializes in the manufacture and marketing prescription of surgical and medical devices, and pharmaceutical drugs.