Elder Pharmaceuticals has completed the transaction for sale and transfer of its branded domestic formulations business in India and Nepal to Torrent Pharmaceuticals on a slump sale basis on June 29, 2014. This transaction was in pursuance of the Business Transfer Agreement (BTA) entered into between the company and Torrent on December 13, 2013.
Elder Pharmaceuticals (EPL) has around six manufacturing units in India, all as per international standards. Post increasing its stake in Elder Biomeda AD and Neutrahealth PLC, EPL also has access to the manufacturing units of these companies in Bulgaria and Birmingham, UK respectively coupled with distribution network and brands of the same.
