This is a part of the company's expansion plan in dermatology, diabetes and cardiology.
Jagdish Saxena, managing director, said the company was looking at capacity expansion for formulations, considering the future for organic and inorganic growth.
"We are in talks with local and international companies for a facility acquisition and also for picking up brands to expand our portfolio. The buyout deals are likely to be finalised in another three to four months," he said.
Saxena was speaking on the sidelines of the curtain raiser of the company's new lip care promotion event - 'India's Most Beautiful Lips 2005'.
Elder Pharma, which has recently tied up with Blistex Inc of the US, is manufacturing and marketing Blistex lip care products in India.
Now, the company in association with Blistex Inc has announced the Indian version of world's most popular lips as 'Blistex-India's Most Beautiful Lips'.
Elder Pharma, which is leading player in the therapeutic categories of women healthcare, dermatology, has recently forayed into the consumer market with the launch of a series of beauty care products by its consumer products division.
As part of this, the company has launched a fairness cream 'Fair One' in association with Shahnaz Husain. The company is also marketing Tiger Balm in association with How Par of Singapore.
The company is also expanding its marketing network in Sri Lanka, Pakistan, Bangladesh and Myanmar apart from the India and Nepal in the South East Asia.
