Elder Pharma's Eldervit set to be Rs 100 crore brand by FY16

Elder Pharma today said its nutraceutical product Eldervit is set to become Rs 100 crore brand by the end of financial year 2016 and a Rs 300 crore brand by FY 2019 with product extensions and large scale geographical expansion.

Eldervit is a prescription drug which acts as a vitamin & minerals supplement to boost energy.

"In addition to injection form, we are making Eldervit available in capsules, gel capsules and sachet forms to make it acceptable to all age groups," Elder Pharma Managing Director Alok Saxena said in a statement here.

"With its new range and aggressive national expansion, Elder hopes to add a million customers every month and make Eldervit a Rs 100 crore brand by the end of financial year 2016 and a Rs 300 crore brand by FY 2019," he said.

With the closure of its Rs 2,000 crore deal with Torrent Pharmaceuticals involving selling off of more than 30 ethical brands including Shelcal last year, Elder Pharmaceuticals now plans to create a super brand out of Eldervit with product extensions and large scale geographical expansion, the release said.

A much leaner and low-debted company now, Elder Pharma is laying emphasis on expanding the brands remaining with itself post selloff - the chief being Eldervit, a nutraceutical with a current turnover of approximately Rs 40 crore.

The company is also revamping and upgrading its Thrive, a natural nutritional supplement for fighting chronic metabolic disorders which is likely to generate sales of Rs 10 crore in the current fiscal with anticipated growth of 12-15% every year.

Product extensions of Thrive too have been launched in drink, capsules and tablets form, Saxena said.

With a view to capture a larger share of the highly competitive anti-infectives market, Elder is restructuring & expanding its team as also rationalizing prices to ramp up volumes. Anti-infectives like Cefiximebased Formic and Elfi have been registering a growth of more than 12% every year and are expected to grow at 15% annually from now.

The company's major focus areas in the years to come will be in the anti infectives, Lifestyle diseases dermatology and neurological segments. Anti infectives segment contributes about 10% of the company's turnover and is likely to witness a major price revamp in order to garner a larger share in the domestic market.