Drug firm Elder Pharmaceuticals is eyeing 20 per cent growth in revenues to around Rs 1,200 crore in the current fiscal on the back of new product launches.
“With maximum traction in women’s healthcare, wound care and the nutraceutical segments last year, we had a turnover of almost Rs 1,000 crore on a consolidated basis and it is estimated at current growth of 20 per cent, we will be on our expected target of Rs 1,200 crore during the current fiscal 2011-12,” Elder Pharma JMD Mr Alok Saxena told PTI.
The company is looking to achieve the growth in the domestic market by its existing strong range of branded products including Shelcal, Eldervit and Chymoral as well as further brand building of its new product range, Mr Saxena added.
The Mumbai-based firm, which derives 95 per cent of its revenues from the domestic market, is also expecting a better performance from its in-licensed brands and overseas subsidiaries.
The company currently has 24 in-licence agreements with various firm for the domestic market.
Commenting on the company’s growth strategy, Mr Saxena said: “We are now enhancing our presence in the field of pain management, where we have identified chronic diseases like arthritis and cartilage disease and have specific arrangement with two foreign companies to market the products.”
“Similarly nutraceuticals and active pharma ingredients (API) are another areas where the company is expanding its operations,” Mr Saxena added.
The company has recently received accreditation from Ministry of Health, Japan, is looking to launch three products in the lucrative market.
“In fact, our first product has already been supplied into that market and we are looking at the second product going into the market in the next six months,” Mr Saxena said.