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Elder Pharmaceuticals surges on inking MoU with Russia's holding Pharma Eco

24 Dec 2012 Evaluate

Elder Pharmaceuticals is currently trading at Rs. 408.45, up by 7.10 points or 1.77% from its previous closing of Rs. 401.35 on the BSE.

The scrip opened at Rs. 402.50 and has touched a high and low of Rs. 417.00 and Rs. 396.85 respectively. So far 16528 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 474.00 on 05-Dec-2012 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. 428.75 and Rs. 394.25 respectively. The current market cap of the company is Rs. 837.91 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, one of the fastest growing Pharmaceutical major in the country has signed a Memorandum of Understanding (MoU) with Russia's holding Pharma Eco, which works in all major segments of pharmaceutical industry for bilateral cooperation in the field of healthcare.

The MoU between the two companies was signed as part of the Russian 1 President visit for the 13th annual Indo-Russian bilateral summit. In the pharmaceuticals sector, where India has emerged as the most reliable supplier of quality generic drugs to Russia, potential for further cooperation is promising. Under Pharma 2020 programme of the Russian Government which aims at developing domestic production base, leading Indian Pharma companies have started engaging with Russian partners to consider possibilities of joint investments.

Russia based Holding Pharm Eco includes six subsidiaries and works in all major segments of pharmaceutical industry: distribution of medicines, medical equipment and medical products production/packaging of medicines and research on creation of new medicines. The Group annual turnover for the last year amounted $1.12 billion. The Group Employs more than 800 people across countries.

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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