Morepen Laboratories carves out Medical Devices into subsidiary
29th Sep 2021

Morepen Laboratories has carved out its point of care (POC) Medical Devices business into a newly incorporated wholly owned subsidiary, Morepen Devices. The shareholders have given their approval for the same on September 28, 2021 in the 36th Annual General Meeting (AGM) of the company. The transfer of the business would happen as per terms of the Business Transfer Agreement to be signed between both the companies.

The Medical Devices (POC) business of the company has been delivering exponential growth for past many years and has achieved a leadership position in the market. A stupendous growth of 71% was recorded in the previous financial year ending March 2021. The growth trends are being continued in Q1 FY22 wherein POC business recorded a spectacular growth of 187%.

Morepen Laboratories is a well-known pharma company having well equipped Research & Development Centre and is all set to seize the Generic revolution in pharma industry, by filing multiple DMFs and COS for new APIs.