Elder Pharmaceuticals to Merge With

The Saxena family-controlled Elder Pharmaceuticals has decided to merge with its group company Elder Projects. The company is also in talks with Italy-based pharma firm Acraf to supply active pharmaceutical ingredients (APIs) for the latter's global needs. Vijay Paranjape, joint managing director, Elder Pharmaceuticals said, "We are working on a proposal to merge the two companies. The proposal is subject to shareholders approval." Elder Projects produces of a range of injectables, while Elder Pharma is an integrated pharma company with a presence in both bulk drugs and formulation segments.

()a href="http://economictimes.indiatimes.com/articleshow/1116071.cms" target="_blank">The Economic Times