Elder Pharma – Going Global Full Throttle
Elder Pharma - Targets Italian Generics Mart
After setting up a joint venture company in Nepal and a wholly owned marketing subsidiary in Ghana, the Saxenas-promoted Elder Pharmaceuticals is looking at similar opportunities in the Italian generics market. The company is scouting for marketing alliances and joint ventures in Italy, one of the largest pharmaceutical markets in Europe, as part of its global expansion strategy, said Alok Saxena, director - international business, Elder Pharma. “In order to tap the huge generics opportunity in Europe, we are looking at various options including marketing tie-ups, joint venture and even smaller acquisitions. However, all these are at a very preliminary stage and nothing has been shaped up into a final decision yet,” he said. According to sources, the company is currently in talks with a few leading marketing companies in Europe to form alliances or even joint ventures with local partners.
In March, Elder had set up a joint venture company with the Universal group, a diversified business group based in Kathmandu. Early this year, it had also established a direct sales and marketing subsidiary in Ghana. The Nepalese joint venture – called Universal Elder Pharmaceuticals – will start manufacturing drug formulations complying with the local market requirements. Elder holds 40 per cent and Universal 60 per cent in the company. Elder has invested Rs 10 crore in the joint venture.
The Rs 300 crore Elder had entered into a strategic alliance with the UK’s Medichem International to develop, manufacture and market advanced medical biosecurity products in India. Medichem is a leader in advanced medical disinfection products selling them in more than 40 countries around the world. Through this alliance, Elder would initially market a disinfectant spray developed by Medichem International, used as a precaution against getting infected with H5N1 avian flu virus. Branded as Trigene, the new disinfectant is certified by the department for environment food and rural affairs - the apex British government body for such products - as effective against bird flue viruses at normal user dilutions.
Global expansion is one of the growth strategies the company is aggressively looking at currently. Its growth plans are being aggressively pursued to achieve Rs 800 crore turnover by 2008.
After setting up a joint venture company in Nepal and a wholly owned marketing subsidiary in Ghana, the Saxenas-promoted Elder Pharmaceuticals is looking at similar opportunities in the Italian generics market. The company is scouting for marketing alliances and joint ventures in Italy, one of the largest pharmaceutical markets in Europe, as part of its global expansion strategy, said Alok Saxena, director - international business, Elder Pharma. “In order to tap the huge generics opportunity in Europe, we are looking at various options including marketing tie-ups, joint venture and even smaller acquisitions. However, all these are at a very preliminary stage and nothing has been shaped up into a final decision yet,” he said. According to sources, the company is currently in talks with a few leading marketing companies in Europe to form alliances or even joint ventures with local partners.
In March, Elder had set up a joint venture company with the Universal group, a diversified business group based in Kathmandu. Early this year, it had also established a direct sales and marketing subsidiary in Ghana. The Nepalese joint venture – called Universal Elder Pharmaceuticals – will start manufacturing drug formulations complying with the local market requirements. Elder holds 40 per cent and Universal 60 per cent in the company. Elder has invested Rs 10 crore in the joint venture.
The Rs 300 crore Elder had entered into a strategic alliance with the UK’s Medichem International to develop, manufacture and market advanced medical biosecurity products in India. Medichem is a leader in advanced medical disinfection products selling them in more than 40 countries around the world. Through this alliance, Elder would initially market a disinfectant spray developed by Medichem International, used as a precaution against getting infected with H5N1 avian flu virus. Branded as Trigene, the new disinfectant is certified by the department for environment food and rural affairs - the apex British government body for such products - as effective against bird flue viruses at normal user dilutions.
Global expansion is one of the growth strategies the company is aggressively looking at currently. Its growth plans are being aggressively pursued to achieve Rs 800 crore turnover by 2008.
posted by Raj @ 11:27 AM
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