Elder Pharmaceuticals Ltd was a pharmaceutical company headquartered in Mumbai, Maharashtra.[7][8] Its main activities included the manufacturing and marketing of prescription pharmaceutical brands, surgical and medical devices. It had 6 manufacturing plants in India & 1 in Nepal. It manufactured various dosage forms like tablets, capsules, syrups, injectables, topical creams and ointments.[9]
History
In 1989, Jagdish Saxena formed Elder Pharmaceuticals in Mumbai when he lost his job due to the shut down of the pharma division of a company for which he was working. The first manufacturing plant was set up in 1989 at Nerul. It was listed on Bombay Stock Exchange and National Stock Exchange in 2000.[10]
In 2010, the company acquired the UK-based supplements company NeutraHealth for £12.2 million.[11]
On 13 December 2013, Torrent Pharmaceuticals signed a definitive deal to acquire Elder Pharmaceuticals' branded domestic formulations business in India and Nepal for ₹2,000 crore.[12] Even after the sale, Elder Pharmaceuticals faced a debt crisis.[13] In 2016, the company was delisted from the stock exchanges on account of non-compliances.[14]
In October 2013, founder Jagdish Saxena died.[15] In October 2017, the MD Alok Saxena died at the age of 52.[16] The promoter group was later led by Jagdish Saxena's second son Anuj Saxena, a former TV actor, and daughter Shalini Saxena Kumar, an entrepreneur.[17]
In 2017, the company went into liquidation.[18]
In 2025, a Mumbai court fined the company Rs 18,300,000 for failure to honour a cheque.[19]
External links
References
- Elder : Corporate - Introduction Elderindia.com, retrieved 8 January 2011^
- Elder Contact Elderindia.com, retrieved 8 January 2011^
- BSE Plus moneycontrol.com, retrieved 21 December 2020^
- Elder Pharma hiring 1,000 sales staff to tap India's rural market, pharma jobs in India Elder Pharma employment | DWS Pill Scribe Dancewithshadows.com, 19 April 2010, retrieved 8 January 2011^
- Elder Pharma to buy UK's NeutraHealth for $19.1 mn - Corporate News Mint, 16 September 2010, retrieved 8 January 2011^
- Elder Pharma backs out of Ghana venture - Money Daily News and Analysis, 15 January 2010, retrieved 8 January 2011^
- Elder Pharma gets Japanese approval for API facility Business Standard India, Business-standard.com, 3 January 2011, retrieved 8 January 2011^
- Elder Pharmaceuticals 2026 Company Profile: Valuation, Funding & Investors pitchbook.com, retrieved 2026-01-20^
- How Elder Pharma was born Rediff.com, 31 July 2004, retrieved 8 January 2011^
- Elder: Corporate History /Corporate Background Elderindia.com, retrieved 8 January 2011^
- NeutraHealth to be bought by India's Elder Pharma Reuters, 16 September 2010, retrieved 31 August 2023^
- Torrent Pharma to buy Elder's India business for Rs 2,000 cr Business Standard, retrieved 31 August 2023^
- Joel Rebello, Reghu Balakrishnan. Elder Pharma to sell assets to clear debt mint, 11 September 2015, retrieved 31 August 2023^
- Elder Pharmaceuticals drops after NSE announces trading suspension Business Standard, retrieved 31 August 2023^
- The Visionary Entrepreneur of Elder Pharma late Jagdish Saxena was a man of emotions & a compassionate leader. Remembering the leader! – Indian Affairs 6 May 2015^
- Reghu Balakrishnan. Elder Pharma CMD Saxena passes away Business Standard India, 10 October 2013^
- Elder Pharma MD passes away, shadow over company intensifies BusinessLine, 23 October 2017, retrieved 31 August 2023^
- The Official Liquidator Of Elder ... vs Puspasen C. Jhaveri latestlaws.com, retrieved 2026-01-20^
- Farhat Nasim. Court slaps over Rs 1 crore fine on Elder Pharma medicaldialogues.in, 2025-02-05, retrieved 2026-01-20^