Elder Pharmaceuticals, a Rs950-crore revenue Mumbai- based firm, will launch its top domestic brands such as calcium-loaded Shelcal in the European market through its two subsidiaries in UK and Bulgaria in a bid to increase overseas revenue.
“Our subsidiaries in United Kingdom and Bulgaria have strong marketing and distribution network in Europe, which will help us to increase our penetration in the market,” said Alok Saxena, director, Elder Pharmaceuticals. “The domestic brands will be launched from Bulgarian subsidiary—Elder Biomedia, which has required regulatory approvals.”
Shelcal, a calcium supplement for women, is one of the largest selling pharmaceutical products in the country with annual revenue of around Rs200 crore.
In the current fiscal five products will be launched in Europe. Currently, revenue from foreign market contributes around 10% in total revenue and management is aiming to take it to 20% by the end of current fiscal.
The company, which has set a revenue target of Rs1,500 crore by the end of 2013, plans to launch around 40 products in pain management, women healthcare, neutraceuticals, dermatology (skin-care) in next two years to achieve this target.
“Of the total around 40 products, we plan to launch around 15 products in current financial year (2011-12),” said Saxena. “Out of these 4-5 will be in-licenced products of international companies.”
“We expect our revenue to cross Rs1,200 crore by the end of 2013,” he said.
The company has seven manufacturing plants in India located in Maharashtra, Uttarakhand, and Himachal Pradesh and a research and development centre at Navi Mumbai.