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Elder Pharma advances on plans of foraying into European Union’s regulated markets

26 Nov 2012 Evaluate

Elder Pharmaceuticals is currently trading at Rs 327.00, up by 3.95 points or 1.22% from its previous closing of Rs 323.05 on the BSE.

The scrip opened at Rs 327.50 and has touched a high and low of Rs 327.50 and Rs 323.00 respectively. So far 881 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 378.70 on 07-Dec-2011 and a 52 week low of Rs 267.05 on 16-Aug-2012.

Last one week high and low of the scrip stood at Rs 331.45 and Rs 319.00 respectively. The current market cap of the company is Rs 667.45 crore.

The promoters holding in the company stood at 39.89% while Institutions and Non-Institutions held 23.37% and 36.74% respectively.

Elder Pharmaceuticals is ready to foray the regulated markets of European Union following the receipt of Certificate of Suitability (COS) from European Directorate for the Quality of Medicines and Healthcare (EDQM) for Diosmin API. It has also received accreditation from Ministry of Health-Japan for Active Pharmaceutical Ingredients (API) plant at Patalganga in Maharashtra.

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.

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