Deloitte to guide Elder Pharma in business restructuring

According to a PTI news, Elder Pharmaceuticals has engaged Deloitte for restructuring the company and its brands. This follows the sale of Elder Pharma's domestic formulations business to Torrent Pharmaceuticals for Rs 2,004 crore in December last year.
 
As per the deal, major chunk of Elder Pharma's employees will be joining Ahmedabad-based Torrent Pharmaceuticals after March 31 and would need an organisational restructuring. It will be part of Deloitte's consultancy job, Elder Pharma said in a statement.
 
As per the strategy, Elder Pharma wants to focus on its remaining brands including Eldervit and Somazina and position itself further in the growing nutraceuticals segment by launching more products, the statement added.
 
In addition, the company is also planning to concentrate and build on its domestic business of anti-infectives, strengthen its in-license portfolio and grow its business in the UK and Europe. Elder Pharma is also planning to explore the possibility of entering new therapeutics areas.