Elder Pharma commits to repaying creditors
Elder Pharmaceuticals says it is committed to repaying all its creditors by raising funds through a combination of debt, equity and asset sale
The company has been going through tough cash flow situations but says it is on the path of recovery and has substantial asset base to cover all its liabilities.
The company is selling its stake in its subsidiaries in UK and Bulgaria and although the company has sold 30 brands to Torrent it still has the international rights for these brands.