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Follow on Google News | Elder Pharma Reaffirms Commitment to Clear All Dues by Raising Funds Through Asset Sale or Debt* Revival in business operations likely to relieve Cash flow issues in the long term.
By: Sentinel Public Relations Pvt Ltd However, in recent times the company has been faced with a number of litigations – many of which are motivated – which are in effect further delaying the company’s recovery or plans to sell assets. Due to these numerous legal issues – coupled with a slow real estate market – the company has not been able to sell off its non- core assets quickly or at the right price. But the efforts continue to realize the best value for the non-core assets. The company has also been facing a lot of negative publicity in the media, most of which is completely false, derogatory and defamatory and liable for libel. In spite of the motivated campaign to systematically tarnish its image the company enjoys a strong goodwill in market which is enabling it to revive and increase its business operations slowly but steadily. Once the company’s profitable business model reaches its earlier stage it will have sufficient cash flows to take care of its various financial needs. The only thing coming in the way are the multitude cases filed against the company. The company and its promoters remain committed to doing their best to repay all the liabilities and to turn around the business. This commitment is not only to the investors, creditors and depositors, but also to the more than 1000 families who still believe in the Elder dream. Elder is a major player in the anti-infectives, multi-vitamins, cardiology and skincare segments apart from the OTC segment. Although the company has sold off its 30 brands to Torrent more than a year back – it still has the international rights for these brands including Shelcal, its leading calcium supplement brand. Elder Pharma has already started exports of these brands to about 25 countries with many more on the anvil. With overwhelming response and acceptance of its product globally, the company is looking at strong prescription base in over 70 countries by March 2017. Another fast growing product is Eldervit, a prescription drug which acts as a vitamin & minerals supplement to boost energy. In addition to injection form, Elder has started making Eldervit available in capsules, gel capsules and sachet forms to make it acceptable to all age groups. The company is a market leader in wound healing and injectable B12 vitamin. Press & Media Contact: Mitesh M Kapadia Sentinel Public Relations Pvt Ltd / Sentinel Advertising Services B-603, Samajdeep, Near Bhanu Park/Seasons Restaurant Adukia Road, Off S V Road Kandivli (W), Mumbai 400 067 India Mob: +91 98205 03876 Tel: (022) 28625131/32 Fax: (022) 28625133 mitesh@publicrelationindia.com http://www.publicrelationindia.com http://www.elderindia.com End
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