Elder Pharmaceutical Ltd. Appoints Deloitte To Restructure Business And Brands
2/19/2014 7:25:00 AM
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Elder Pharmaceuticals has appointed consulting firm Deloitte for restructuring the company and its brands, including ‘Eldervit’, following the sale of its formulation business to Torrent Pharmaceuticals for Rs. 2,004 crore. The company’s overall strategy is to focus on its remaining brands, including Eldervit and Somazina, and position itself further in the growing nutraceuticals segment by launching more products, Elder Pharma said in a statement today. As per the deal, major chunk of Elder Pharma’s employees will be joining the Ahmedabad-based Torrent Pharmaceuticals after March 31 and would need an organisational restructuring.
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