Drug firm Elder Pharma is focusing on enhancing its presence in pain management and treatment of chronic diseases as part of strategy to grow its in-licensed products portfolio.
“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,” Elder Pharmaceuticals Managing Director Alok Saxena told PTI.
Nutraceuticals is another area where the company is expanding its operations, catering to cardiac, diabetic and kidney disease patients, Saxena added.
The Mumbai-headquartered firm is also adopting two pronged strategy for growth as the company is targeting to establish leadership for its various in-licensed products and at the same time also trying to develop its own brand portfolio in the country.
“Elder’s focus is on creating a product in a therapeutic category and to try to establish brand leadership in that segment, apart from developing our own portfolio,” Saxena said.
Last week, the drug firm’s shareholders approved a final dividend of 30 per cent or Rs 3 per share of face value of Rs 10 each for the fiscal ended March 31, 2012.