Elder Pharmaceuticals

Elder Pharmaceuticals
Company typePublic
IndustryPharmaceuticals, Drugs & healthcare
Founded1989 (1989)[1]
FounderJagdish Saxena
Defunct2022 (2022)
FateBankrupted
Headquarters
Mumbai, Maharashtra[2]
,
India
ProductsMedicines and Vaccines
Revenue₹ 16,743 million (2013)[3]
₹ 823 million (2013)[3]
₹ 937 million (2013)[3]
Total assets₹ 24,924 million (2013)[3]
Total equity₹ 7,691 million (2013)[3]
Number of employees
4300[4]
SubsidiariesNeutraHealth,[5] Elvista[6]
Websitehttps://elderpharma.com/

Elder Pharmaceuticals Ltd was a pharmaceutical company headquartered in Mumbai, Maharashtra.[7][8] Its main activities included the manufacturing and marketing of prescription pharmaceutical brands, surgical and medical devices. It had 6 manufacturing plants in India & 1 in Nepal. It manufactured various dosage forms like tablets, capsules, syrups, injectables, topical creams and ointments.[9]

History

In 1989, Jagdish Saxena formed Elder Pharmaceuticals in Mumbai when he lost his job due to the shut down of the pharma division of a company for which he was working. The first manufacturing plant was set up in 1989 at Nerul. It was listed on Bombay Stock Exchange and National Stock Exchange in 2000. [10]

In 2010, the company acquired the UK-based supplements company NeutraHealth for £12.2 million.[11]

On 13 December 2013, Torrent Pharmaceuticals signed a definitive deal to acquire Elder Pharmaceuticals' branded domestic formulations business in India and Nepal for ₹2,000 crore.[12] Even after the sale, Elder Pharmaceuticals faced a debt crisis.[13] In 2016, the company was delisted from the stock exchanges on account of non-compliances.[14]

In October 2013, founder Jagdish Saxena died.[15] In October 2017, the MD Alok Saxena died at the age of 52.[16] The promoter group was later led by Jagdish Saxena's second son Anuj Saxena, a former TV actor, and daughter Shalini Saxena Kumar, an entrepreneur.[17]

In 2017, the company went into liquidation.[18]

In 2025, a Mumbai court fined the company Rs 18,300,000 for failure to honour a cheque.[19]

References

  1. ^ "Elder : Corporate - Introduction". Elderindia.com. Archived from the original on 29 December 2010. Retrieved 8 January 2011.
  2. ^ "Elder Contact". Elderindia.com. Archived from the original on 16 December 2010. Retrieved 8 January 2011.
  3. ^ a b c d e "BSE Plus". moneycontrol.com. Retrieved 21 December 2020.
  4. ^ "Elder Pharma hiring 1,000 sales staff to tap India's rural market, pharma jobs in India Elder Pharma employment | DWS Pill Scribe". Dancewithshadows.com. 19 April 2010. Archived from the original on 26 April 2010. Retrieved 8 January 2011.
  5. ^ "Elder Pharma to buy UK's NeutraHealth for $19.1 mn - Corporate News". Mint. 16 September 2010. Retrieved 8 January 2011.
  6. ^ "Elder Pharma backs out of Ghana venture - Money". Daily News and Analysis. 15 January 2010. Retrieved 8 January 2011.
  7. ^ "Elder Pharma gets Japanese approval for API facility". Business Standard India. Business-standard.com. Press Trust of India. 3 January 2011. Retrieved 8 January 2011.
  8. ^ "Elder Pharmaceuticals 2026 Company Profile: Valuation, Funding & Investors | PitchBook". pitchbook.com. Retrieved 20 January 2026.
  9. ^ "How Elder Pharma was born". Rediff.com. 31 July 2004. Retrieved 8 January 2011.
  10. ^ "Elder: Corporate History /Corporate Background". Elderindia.com. Archived from the original on 16 December 2010. Retrieved 8 January 2011.
  11. ^ "NeutraHealth to be bought by India's Elder Pharma". Reuters. 16 September 2010. Retrieved 31 August 2023.
  12. ^ "Torrent Pharma to buy Elder's India business for Rs 2,000 cr". Business Standard. Retrieved 31 August 2023.
  13. ^ Rebello, Joel; Balakrishnan, Reghu (11 September 2015). "Elder Pharma to sell assets to clear debt". mint. Retrieved 31 August 2023.
  14. ^ "Elder Pharmaceuticals drops after NSE announces trading suspension". Business Standard. Retrieved 31 August 2023.
  15. ^ "The Visionary Entrepreneur of Elder Pharma late Jagdish Saxena was a man of emotions & a compassionate leader. Remembering the leader! – Indian Affairs". 6 May 2015.
  16. ^ Balakrishnan, Reghu (10 October 2013). "Elder Pharma CMD Saxena passes away". Business Standard India – via Business Standard.
  17. ^ "Elder Pharma MD passes away, shadow over company intensifies". BusinessLine. 23 October 2017. Retrieved 31 August 2023.
  18. ^ "The Official Liquidator Of Elder ... vs Puspasen C. Jhaveri". latestlaws.com. Retrieved 20 January 2026.
  19. ^ Nasim, Farhat (5 February 2025). "Court slaps over Rs 1 crore fine on Elder Pharma". medicaldialogues.in. Retrieved 20 January 2026.
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