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Elder Pharmaceuticals has reported that it has elevated Alok Saxena as its managing director and chief executive officer. The company’s board appointed Alok Saxena for the position with effect from October 11, 2013, for a period of five years, says company statement filed to the Bombay Stock Exchange.
The move comes in the wake of the demise of Elder Pharma chairman and managing director Jagdish Saxena on October 10. Currently, Alok is the joint managing director of the company. The Mumbai-based Elder Pharmaceuticals manufactures and markets prescription pharmaceutical brands, surgical and medical devices.