Elder Pharmaceuticals

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Elder Pharmaceuticals
TypePublic company (BSE: 532322; NSE: ELDERPHARM)
IndustryPharmaceuticals, Drugs & healthcare
Founded1989; 32 years ago (1989)[1]
FounderMr. Jagdish Saxena
Headquarters
Mumbai, Maharashtra[2]
,
India
Key people
Founder (Late) Jagdish Saxena
ProductsMedicines and Vaccines
RevenueIncrease ₹ 16,743 million (2013)[3]
Increase ₹ 823 million (2013)[3]
Increase ₹ 937 million (2013)[3]
Total assetsIncrease ₹ 24,924 million (2013)[3]
Total equityIncrease ₹ 7,691 million (2013)[3]
OwnerPromoter group (34.4%)[3]
Number of employees
4300[4]
SubsidiariesNeutraHealth,[5] Elvista[6]
Websitehttps://www.elder-india.com/

Elder Pharmaceuticals Ltd is a pharmaceutical company headquartered in Mumbai, Maharashtra.[7] Its main activities include the manufacturing and marketing of prescription pharmaceutical brands, surgical and medical devices. Its largest presence in three therapeutic segments, Women's Healthcare, Wound Care and Nutraceuticals. It has 6 manufacturing plants in India & 1 in Nepal. It manufacture various dosage forms like tablets, capsules, syrups, injectables, topical creams and ointments.[8]

History[]

In 1989, Jagdish Saxena formed Elder Pharmaceuticals in Mumbai. The first manufacturing plant was set up in 1989 at Nerul. It was listed on Bombay Stock Exchange and National Stock Exchange in 2000. It was founded by Saxena, when he lost his job due to the shut down of the pharma division of a company for which he was working.[9]

On 13 Dec 2013 Torrent Pharmaceuticals Ltd has signed a definitive deal to acquire the branded domestic formulations business in India and Nepal of Elder Pharmaceuticals Ltd for Rs 20 billion.

Even after his death in 2013, The name of Jagdish Saxena and Elder is still considered highly prestigious. Saxena is considered as one of the visionary Pharmaceutical leaders of India.[10]

Also in 2015, news broke out of a fight within the promoter family. It put the daughter (Shalini Saxena Kumar) and Wife (Sneh Saxena) of Jagdish Saxena against his two Sons (Late Alok Saxena and Anuj Saxena). The initial case filed by Anuj Saxena against his sister was declined and didn't give him interim relief from the court order on 28 August 2015. It was contended that Anuj has two other residential properties and could not back his claims, according to the order posted on the court website. "Plaintiff has not brought on record any untoward incident to show that defendants had in fact tried to dispossess him from the suit bungalow. Mere apprehension of dispossession and that too from his mother having age of 70 years is not sufficient to grant ad interim relief as prayed for."[11] ref>Saxena, Aditi (16 April 2015). "Feud a bitter pill for Elder Pharma family". The Economic Times. Retrieved 14 April 2021.</ref>

In October 2017, the MD Alok Saxena passed away at the age of 52.[12] The rerise of Elder is now resting on the shoulders Jagdish Saxena’s second son Anuj Saxena, who is a TV actor and daughter Shalini Saxena Kumar, who is an entrepreneur.

References[]

  1. ^ "Elder : Corporate - Introduction". Elderindia.com. Archived from the original on 29 December 2010. Retrieved 8 January 2011.
  2. ^ "Elder Contact". Elderindia.com. Archived from the original on 16 December 2010. Retrieved 8 January 2011.
  3. ^ Jump up to: a b c d e f "BSE Plus". moneycontrol.com. Retrieved 21 December 2020.
  4. ^ "Elder Pharma hiring 1,000 sales staff to tap India's rural market, pharma jobs in India Elder Pharma employment | DWS Pill Scribe". Dancewithshadows.com. 19 April 2010. Archived from the original on 26 April 2010. Retrieved 8 January 2011.
  5. ^ "Elder Pharma to buy UK's NeutraHealth for $19.1 mn - Corporate News". Mint. 16 September 2010. Retrieved 8 January 2011.
  6. ^ "Elder Pharma backs out of Ghana venture - Money". Daily News and Analysis. 15 January 2010. Retrieved 8 January 2011.
  7. ^ "Elder Pharma gets Japanese approval for API facility". Business-standard.com. 3 January 2011. Retrieved 8 January 2011.
  8. ^ "How Elder Pharma was born". Rediff.com. 31 July 2004. Retrieved 8 January 2011.
  9. ^ "Elder: Corporate History /Corporate Background". Elderindia.com. Archived from the original on 16 December 2010. Retrieved 8 January 2011.
  10. ^ "The Visionary Entrepreneur of Elder Pharma late Jagdish Saxena was a man of emotions & a compassionate leader. Remembering the leader! – Indian Affairs".
  11. ^ [1][dead link]
  12. ^ Balakrishnan, Reghu (10 October 2013). "Elder Pharma CMD Saxena passes away" – via Business Standard.

External links[]

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