Elder Pharmaceuticals, a Mumbai-based Rs 500 crore company has announced the launch of its new product – PHYTOMEGA a unique combination of Omega-3 fatty acids & Phytosterols which has been proven to reduce lipid levels in the body. This product has been licensed to Elder by an Israeli company – M/s Enzymotec which specializes in developing nutritional products for chronic disorders.

Clinical trials have documented the efficacy of PHYTOMEGA in reducing LDL as well as triglycerides (two types of lipids) as compared to statins (products used to lower lipids) which reduce either one of them. Since derived from natural sources, the product is devoid of side effects that would be associated with statins.

Dr Harold E Lobovitz, Professor, New York University who was recently in India to speak to all leading physicians, cardiologists and general practitioners across the country about the benefits of the product said, “Today cardiovascular diseases or coronary heart disease (CAD), are the most common cause of morbidity and mortality in the developed nations and a similar situation is also seen in India. Many factors contribute to heart disease, some of which include age, gender, family history, hypertension, & diabetes; hyperlipidaemia (high lipid levels) figures prominently as a risk factor. Over 70% of patients who have premature coronary heart disease (CHD) have lipid disorders. We feel that lowering lipid levels in the body is an important strategy in primary & secondary prevention of these diseases”

Speaking on the launch of the product, Mr Alok Saxena, Director (International), Elder Pharmaceuticals said, “PHYTOMEGA effectively helps reduce the lipid levels in the body as well as triglycerides. Since the product has been derived from natural resources, it is devoid of any possible side effects.”

He added, “Our main objective would be to position the product in this market with an emphasis on total lipid management. We feel that there is tremendous scope for this product in India and would endeavour to ensure its cost effectiveness among its counterparts”

PHYTOMEGA would be promoted to all the leading Physicians, Cardiologists & General Practitioners across the country. The total market size for this product is around Rs 500 crores, of which the primary market of Omega-3 fatty acids is worth Rs. 100 crores. The major players in this segment are Wockhardt, Nicholas Piramal and GSK.

Elder Pharma recently announced their Q3 results for the quarter ended 31 December 2007 and reported a robust quarter-on-quarter revenue expansion with total income increase of 23.07 crore from Rs 115.69 crore in the preceding quarter to Rs 138.78 crore for the quarter under review. EBIDTA for the quarter under review was Rs 30.68 crore, implying an EBITDA margin of 22%. PAT stood at Rs 19.04 crore, up 4.48 crore from the preceding quarter.

Sourced From: Corporate Voice|Weber Shandwick

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