"There was an income tax raid at the firm premises sometime back... later, the company did pay up the required tax. But it came to light that certain bogus bills were debited in the account, which inflated expenses. The company had taken advantage of this while filing its income tax," a senior official of the serious frauds investigation office, who didn't wish to be identified, said.
Elder Pharma employs about 3,300 people in India, with about 2,700 professionals in marketing and sales. This recruitment will help Elder Pharma to have one of the largest drug sales force in India, like market leaders such as Cipla, Ranbaxy, Piramal Healthcare and Lupin.
This helps consumers check the authenticity of drugs simply by sending SMSes.
Cymbiotics, a US-based bio-pharmaceutical manufacturer, has entered into a joint in-licensing agreement with Elder Pharmaceuticals to manufacture and market three of its drugs for pain management, diabetes and dermatology in the Indian market.
Elder Healthcare, an associated company of Elder Pharmaceuticals, will soon sign an inlicensing agreement with the Thailand-based herbal drug and personal care products manufacturer FCP Company to launch its products in India.
A substantial increase in prize money and a host of promotional offers for players and spectators alike were announced by title sponsors Mahindra & Mahindra.
Elder Pharmaceuticals has entered into a strategic alliance with UK's Medichem International to develop, manufacture and market advanced medical biosecurity products in India.
Swiss-based pharma multinational Roche Scientific has finalised a marketing agreement with Elder Pharmaceuticals to sell its new post-menopausal osteoporosis drug, Bonviva, in the country.
Elder Pharmaceuticals, one of the fast growing pharmaceutical formulation company, is getting ready to make its maiden overseas acquisition.
Elder Pharmaceuticals Ltd has entered into an alliance with US-based Blistex Inc to manufacture and introduce the latter's entire range of lip care products in India.\n\n\n\n
I don't think anything dramatic will happen post-2005 when there will be a change in patents from process to products.
Bombay Stock Exchange Sensex closed 30 points lower at 21,140 levels.
All sectoral indices, led by realty, PSU, oil & gas and banking, were in positive zone with gains of up to 1.25 per cent.
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