Elder Pharma Hikes Stake In Bulgarian Acquisition

Elder Pharmaceuticals has extended its control over its Bulgarian acquisitions by hiking stake in its subsidiary Elder Biomeda to 61 percent from the present 51 percent for an undisclosed sum. The balance 39 percent stake in Elder Biomeda is held by the original owners of Biomeda group.

“This shall be our strategic gateway to the EU and CIS Markets. Bulgaria offers low infrastructure cost (compared to other EU countries), lower production & labor cost and low construction cost as compared to other EU countries,” says Alok Saxena, director international, Elder Pharmaceuticals.