Elder Pharmaceuticals gets nod for restructuring of business

Elder Pharmaceuticals has received an approval for carrying out restructuring of company’s business involving either raising of capital, hiving off of assets or other strategic options and also to appoint advisors for this purpose. The company has taken this step with a view to reduce its debt. The board of directors at its meeting held on July 11, 2013 has approved for the same.

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.