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Standard Medical & Pharmaceuticals Ltd.

BSE: 511042 Sector: Others
NSE: N.A. ISIN Code: N.A.
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
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Standard Medical & Pharmaceuticals Ltd. (STANDARDMEDICAL) - Company History

Incorporated as a public limited company in 1983 in Hyderabad, Andhra Pradesh, Standard Medical and Pharmaceuticals was formerly known as Standard Medical Leasing, one of the earliest leasing companies pioneering the concept of medical equipment leasing. It was promoted by C Chandrasekara Reddy and associates. The company diversified into other areas like diagnostic services and bulk drug manufacture. Consequently, in 1987, the company acquired its present name. The company diversified into the field of diagnostic services in 1985. The first diagnostic centre -- Medinova Diagnostic Centre, started operations in the last quarter of 1985. This centre has the most advanced diagnostic facilities under one roof. Most of the equipment is imported from suppliers in the US, Europe and Japan. In 1987, the company came out with a public issue to set up similar centres in Bangalore, Pune and Calcutta. In 1993, as part of its future growth strategy, the company restructured and organised its popular Medinova Diagnostic Centres as a separate company called Medinova Diagnostic Services. In 1987, the company acquired Agipi Chemicals as a wholly-owned subsidiary to manufacture cephalexin, an antibiotic. Agipi Chemicals was merged with the company in 1988. The company manufactures bulk drugs ampicillin and amoxycillin.