With the closure of its Rs 2,000-crore deal with Torrent Pharmaceuticals involving selling off of more than 30 ethical brands including Shelcal, Elder Pharmaceuticals plans to create a super brand out of Eldervit with product extensions and large scale geographical expansion. Elder Pharma is laying emphasis on expanding the brands remaining with itself post selloff, the chief being Eldervit, a nutraceutical with a current turnover of approx Rs 40 crores. Eldervit is a prescription drug which acts as a vitamin and minerals supplement to boost energy.
Says Alok Saxena, Managing Director, Elder Pharma, “In addition to injection form, we are making Eldervit available in capsules, gel capsules and sachet forms to make it acceptable to all age groups. With its new range and aggressive national expansion, Elder hopes to add a million customers every month and make Eldervit a Rs 100-crore brand by the end of financial year 2016 and a Rs 300-crore brand by FY 2019.”
Another product which is being revamped and upgraded is Thrive, a natural nutritional supplement for fighting chronic metabolic disorders which is likely to generate sales of Rs 10 crores in the current fiscal with anticipated growth of 12-15 per cent every year. Product extensions of Thrive too have been launched in drink, capsules and tablets form.
With a view to capture a larger share of the highly competitive anti-infectives market, Elder is restructuring and expanding its team as also rationalising prices to ramp up volumes. Anti-infectives like Cefixime-based Formic and Elfi have been registering a growth of more than 12 per cent every year and are expected to grow at 15 per cent annually from now.
EP News Bureau – Mumbai
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