Elbrit Life Sciences to raise $3M from parent firm

Mumbai-based Elbrit Life Sciences has announced that it is expanding its footprint in the domestic pharmaceutical industry. The fast growing domestic pharmaceutical company is presently in advanced talks with its parent investment firm Capital Investments and an undisclosed Qatar based investment firm to raise $3 million.

This major investment is aimed at expanding the company’s domestic footprint in branded formulation business. Elbrit Life Sciences started its operations in 2014 and has since witnessed an impressive growth rate of more than 100% per annum.

The company is expecting that this deal may close before the 2nd week of October and once the deal is closed, the company expects to pursue growth opportunities. Furthermore, Elbrit Life Sciences also aims to be amongst the Top 150 pharmaceutical companies by the year 2020.