The Mumbai based Rs 460-cr plus pharma company; Elder Pharmaceutical is expanding its research and development facility at Navi Mumbai, with the investment of around Rs 10 crore. The new expansion will be complete within six months. Currently, the company is working on a new project on NDDS and it is planning to tie up with leading MNC.
Talking to Pharmabiz, Alok Saxena, director (International), said, "We are expanding our R&D facility and also working on new NDDS projects. Currently, we are working on a range of new products in the area of neutraceuticals and women's healthcare. At present, the strength of the manpower in our R&D facility is 45 and it will go up to 100 after expansions are over. To face the global challenges, we are working on the new technology and new product development. The company is targeting a turnover of Rs 1000 cr by 2010."
Recently, the company has entered into a joint in-licensing collaboration with Cymbiotics Inc., of USA. Under the collaboration it covers novel formulations from Cymbiotics, which is covering the areas of pain management, diabetes care, derma care and consumer health products for over the counter sales.
While talking about the new tie-ups, Saxena said, "The new tie up is expected with the MNC in next two months. And this new tie up would be for the Indian market. The collaboration with Cymbiotics Inc. is important for us, as these novel formulations helps expand our product profile in the area of pain management, diabetes care and dermatology".
During the previous year, Elder entered into as many as seven international alliances bringing in products from world leaders into India. Elder has launched in India Advanced Bio-medical enviro-security products through tie-ups with Medichem International of UK and with Sterisol AB of Sweden, Wound Care products through a tie-up with Rye Pharma of Australia and Oral Care products from Farmaka of Italy. BON VIVA, a post menopausal osteoporosis drug belonging to F Hoffman La Roche, Switzerland is being marketed in India through a marketing tie-up and HIBOR an anti-thrombotic low molecular weight heparin that would be launched through a tie-up with Laboratorios Farmaceuticos ROVI s.a. of Spain. The latest international alliance is with Enzymotec of Israel for launch of CardiaBeat for CVD (Cardio Vascular Disease) risk reduction.