Mumbai, Maharashtra, India
Elbrit Life Sciences has proudly announced that it is expanding its footprint in the domestic pharmaceutical industry. The fast-growing domestic pharmaceutical company is presently in advanced talks with its parent investment firm Capital Investments and a Qatar based investment firm to raise 3 million USD. This major investment is aimed at expanding the company’s domestic footprint in branded formulation business. Elbrit Life Sciences started its operations in 2014 and has since witnessed an impressive growth rate of more than 100% per annum.
“We are planning to use the additional funds to expand geographical footprint and to focus on nephrology, urology, gynaecology, and oncology therapy segments,” said the spokesperson of Elbrit Life Sciences, while talking about the expansion plans. He added that the company majorly operates in South India and has sales force strength of 200 frontline sales representatives. It has 45 brands and 150 SKUs. He further added that, “The company is currently not looking at any acquisitions and instead prefers to take the organic route to fuel further growth.”
In addition, Elbrit Life Sciences is aggressively focusing on cardiovascular, diabetes, neurology and nutraceuticals market in the country. Operating in a country with a population exceeding 1.3 billion, Elbrit Life Sciences has a dedicated WHO-GMP manufacturing facility. Moreover, the pharma company is in the process of upgrading its facilities to foray into export markets.
The company is expecting that this deal may close before the 2nd week of October and once the deal is closed, the company expects to pursue growth opportunities. Furthermore, Elbrit Life Sciences also aims to be amongst the Top 150 pharmaceutical companies by the year 2020. According to the company spokesperson, Elbrit Life Sciences plans to go for an IPO somewhere around the year 2022.
‘Elbrit Life Sciences’ today announced the commencement of operations. The company is based in Mumbai, India and will be serving patients across South India in the initial phase.
Elbrit Life Sciences’, a new pharmaceutical company based in Mumbai, India, today opened gates for business in India. The company would be serving the South Indian states initially and aims to cover the entire country with time. According to the sources, the company would be targeting cardiac and diabetes product segments in the present year. Elbrit Life Sciences is a part of a global business group based in UK with investments in science, research and education. The group has significantly invested in next generation healthcare such as genetic therapy, molecular biology, DNA mapping and biomarkers. The group also owns world renowned scientific and academic publishing brands.
Speaking on the occasion, Mr. Prakash, the CEO of the company said, “We are extremely excited to announce the launch of Elbrit Life Science. We will be initially venturing into branded generics in diabetic and cardiac segments. In the near future, we will be adding more innovative and super speciality products to our portfolio. Our goal is to expand into other pharmaceutical segments as well and become a leading player in the market in the times to come.” Mr. Prakash, who was present during the occasion is an Indian origin executive based out in the UK.
According to the sources, the parent group based in UK has invested heavily in Elbrit Life Sciences. Details related to the same are expected to be released in the coming weeks.
The sources also said that the company is aggressively planning to pursue the Indian pharmaceutical space. If experts in the field are to be believed, the launch of ‘Elbrit Life Sciences’ is likely to change the Indian pharmaceutical sector on its head resulting in better quality and healthy competition. With the major Indian pharmaceutical companies facing tough times over quality issues in the US and Europe, healthy competition in the domestic market is an encouraging sign for patients.