Jagdish Saxena, a veteran in the Indian pharmaceutical industry and the Chairman and Managing Director of Elder Pharmaceuticals, passed away on Thursday at the age of 74. According to a statement filed with the Bombay Stock Exchange, Elder Pharmaceuticals said that Jagdish Saxena, the Chairman and Managing Director of the company, passed away on October 10, 2013, morning after a prolonged illness.
Though Saxena started his stint with the Indian Air Force, his career actually took off in the pharma industry. Elder Pharmaceuticals, which was formed in 1989 with borrowed money from the banks, is now more than a Rs 1200-crore company. With the demise of Saxena, a pall of gloom has descended over the entire pharma industry. He will always be remembered as an entrepreneur with exceptional leadership qualities and also a human being for whom patient’s health always remained a priority and not business.
EP News Bureau – Mumbai