Elder Pharmaceuticals, an integrated pharmaceuticals company headquartered in Mumbai, has posted net profit growth of 3 per cent during the third quarter ended December 2010 and its net profit reached at Rs.15.83 crore from Rs.15.37 crore in the corresponding period of last year. Its consolidated income increased by 39.8 per cent to Rs.251.54 crore as compared to Rs.179.99 crore. The consolidated operating profit (PBIDT) too has gone up to Rs.45.01 crore from Rs.36.50 crore, a growth of 23 per cent.
For the nine months ended December 2010, the consolidated sales turnover increased to Rs.656.48 crore from Rs.512.28 crore, up by 28 per cent and the net profit improved by 20 per cent to Rs.46.19 crore from Rs.38.45 crore.
During the quarter under review, Elder Pharma received accreditation from Ministry of Health-Japan for its API plant at Patalganga, opening up the fast-growing Japanese markets for the companies products. This accreditation is considered to be very difficult to get as only companies with the very best of infrastructure and quality are able to get this accreditation. “This accreditation for the API plant is a step towards strengthening Elder’s position as a supplier of APIs and intermediates in the Japanese market,” informed Alok Saxena, director, Elder Pharmaceuticals.
The company has launched Shelcal K which is a combination of calcium with high dosage of Vitamin K, prescribed in severe established cases of osteoporosis with a pre-existing vertebral fracture. Contribution from the Langa Road facility (Uttaranchal), launch of new products, penetration into Rural & Semi-Urban markets and strong growth in the traditional products have contributed to the company’s better working.
Elder Pharmaceuticals has presence in niche therapeutic segments like women’s healthcare, wound care, nutraceuticals /vitamin supplements, cardiology, diabetes, dermatology, antibiotics and neurology. It is the market leader in calcium supplements (Shelcal), wound healing and injectable B12 vitamin. The company has a judicious mix of drug formulations, and active pharma ingredients (APIs). It has 6 manufacturing plants in India located in Maharashtra, Uttarakhand & Himachal Pradesh. The company has a state-of-the-art Research & Development Centre at Navi Mumbai which is recognized by the Department of Scientific & Industrial Research, Ministry of Science & Technology.