The Rs 800-crore Elder Pharmaceuticals Limited plans to launch almost three dozen new products in the coming 30 months, a top company official said.
"We plans to launch almost 32-35 new products in the coming 30 months in niche therapeutic segments like female healthcare, osteoporosis, dermatology, pain management, cardiology, nutraceuticals, wound care and vitamin supplements," Elder Pharmaceuticals Director Alok Saxena told PTI here.
This will consist of a combination of in-licenced and own products although the larger focus will be on self-researched products, Saxena said.
Elder Pharmaceuticals has a state-of-the-art Research and Development Centre at Navi Mumbai which is recognised by the Department of Scientific & Industrial Research, Ministry of Science & Technology. The R&D centre has recently been modernised and expanded and now consists of about 100 scientists.
"We are looking at launching at least 8-9 products each in the women's healthcare & nutraceuticals segments which are growing at an average of 18-20 per cent annually - higher than the 12-13 per cent growth rate of the overall domestic pharma industry," Saxena said.
Our scientists are also working on new products, new drug delivery systems and combination therapies in niche therapeutic segments like osteoporosis, dermatology, cardiology, pain management, would care, vitamin supplements etc and we hope to launch at least 3-4 new products in each of these segments, he said.
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The balance launches will be in-licensed products. The company has earmarked an investment of about Rs 120-130 crore for this, Saxena said.
The company is also looking at the wound care and pain management segments which currently contribute about 16 per cent to Elder's turnover and anticipated to grow at over 15 per cent every year.
The mantra in these segments will be launch of therapies which are non-invasive and having little or no side effects.
"We are also looking at in-licensing deals with international majors. We are in talks with about 4-5 such international companies for launching their world renowned products in India and South Asia," Saxena said.
During the year 2011, the company successfully hiked the stake in its overseas acquisitions viz Neutra Health plc of UK to 100 per cent and Elder Biomeda of Bulgaria to 92 per cent, Saxena said.
It has seven manufacturing plants in India located in Maharashtra, Uttarakhand and Himachal Pradesh.
The expansion at three facilities and two overseas subsidiaries will add a lot of value for us, Saxena said, adding, the company eyes turnover of Rs 1,000 crore in FY12 and targeting a turnover of Rs 1,500 crore by 2013.