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By Ramnath Subbu
MUMBAI, FEB. 5. Elder Pharmaceuticals Ltd. (EPL) is in the process of expanding its product portfolio and moving from pharmaceuticals into consumer products also in a big way. It launched its mouthwash, AM:PM last year and is now re-launching Tiger Balm. Following a tie-up with Shahnaz Hussain, a leading natural and herbal beauty products company, it has launched Fair One, a fairness cream in the last quarter of 2004. Elder launched the ethical version of Aloe Vera in the market and is now considering the launch of an over the counter (OTC) version. "We are in talks with Shahnaz Hussain to sell Aloe Vera products under their branding,'' said Anuj Saxena, director, EPL. Despite a highly competitive consumer products market, EPL is targeting a Rs. 100-crore turnover from this business over the next three years and is targeting Rs. 400 crores in five years. In the current year, the company does not expect major volumes and is expecting Rs. 50 crore from these brands. In pharmaceuticals, EPL is in gynaecology with its Shelcal, in surgery with Chymoral Forte and in nutraceuticals with Thrive. These are expected to contribute around Rs. 200 crores in 2004-05. The company is launching its new teams — Eldermis, a dermatological product, ElKids, a paediatric formulation and El Life, a cardio-diabetology product. Along with the existing teams these will contribute around Rs. 500 crores in 2005-06. "We have a strong brand equity and combined with a growing industry and strong brands, we are targeting a Rs. 1,000-crore turnover over the next four years,'' said Mr. Saxena.Elder has licensing agreements with 25 multinational companies and will launch products of Blistex USA, a leader in Lip care, in April. "Our operations for Blistex could be the re-export base for the Southeast Asian region. The product basket includes Lip Balm, Lip Ointment, Daily care treatment and Fruit Smoothies. In the first year, we are targeting a Rs. 5-crore turnover going up to Rs. 15 crores in three years.''
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