Elder Pharma faces severe financial crunch

Elder Pharmaceuticals will remain under bear pressure as it said it is facing a severe financial crunch and consequently audit for financial year ended June 30 has been delayed. The announcement was made on Saturday. Elder Pharmaceuticals follows May-June as financial year. The company could not finalise the results due to the resignation of many of its employees, which has led to a shortage of staff to handle the work of accounts and audit.