Mumbai-based drug maker Elder Pharmaceuticals, which is facing a severe financial crunch, is reportedly planning to repay its creditors and fixed deposit investors by raising funds through a combination of debt, equity and asset sales. The company also plans to sell its stake in its subsidiaries in the UK and Bulgaria.
The company has been going through tough cash flow situations but is on the path of recovery and has substantial asset base to cover all its liabilities. Recently, the Bombay High Court asked the company repay Rs 155 crore to small investors who had invested in the company’s fixed deposit in January.
Elder Pharmaceuticals is a Mumbai based pharmaceutical manufacturing & marketing organisation. By virtue of its strategic alliances, synergetic acquisitions globally accredited manufacturing facilities & above all an extensive marketing & distribution network, Elder Pharma is one of the fastest growing pharma companies in India.
