Elder Pharma inks pact with Russia's PharmEco

Elder Pharma today inked an agreement with Russia's Pharmeco for technology transfer of pharmaceutical and different products. "It is a long term project which will last between three to four years before its final implementation," Alok Saxena, JT MD of Elder Pharma told CNBC-TV18.

Below is the edited transcript of his interview to CNBC-TV18

Also read: Elder Pharma, Russian co in pact for cooperation in healthcare

Q: What is Memorandum of Understanding (MoU) means?

A: The MoU is between us and Pharmeco. It is the largest pharmaceutical groups in Russia. We are looking at technology transfer for pharmaceutical and different products. We have just reached the MoU with them. In terms of business it is a long term project which will last between three to four years before its final implementation.

Q: Will it be three to four years before you implement because I thought its ready made technology that you transfer?

A: It is a technology transfer project. Part of it is going to be Greenfield.

Q: Are you taking technology from Pharmeco?

A: No, it is from India to Russia.

Q: You will be selling technology, any idea how much you will be making?

A: At this moment I cannot disclose any financials because we are still in discussions with them. It is a project where Elder will substantially gain. There are very unique products which we are discussing with the group right now.