Elder Pharmaceuticals is mulling options to sell its overseas subsidiaries. A meeting of company’s board will be held on September 28 to consider the proposal for sale of step down overseas subsidiaries. The company is in the process of restructuring as a whole as it is facing a severe financial crunch. It is also in an advanced stage of discussions with prospective lenders.
Elder Pharmaceuticals 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.
