Morepen Laboratories rose 3.48% to Rs 50.81 after the company announced that its subsidiary, Morepen Medipath, has signed a joint venture agreement with UAE-based Bimedical FZE.
The proposed joint venture company, to be incorporated in India, will focus on manufacturing, trading and selling medical devices. Both partners will contribute equally in the share capital of the new entity, with Morepen Laboratories holding an indirect 30% stake through its subsidiary.The company clarified that the joint venture will be treated as a related party but its promoters have no direct interest apart from their shareholding in Morepen Medipath.
Morepen Laboratories is a vertically integrated pharmaceutical and healthcare company delivering APIs, branded generics, medical devices, and consumer wellness products worldwide.
On a consolidated basis, net profit of Morepen Laboratories declined 70.28% to Rs 10.75 crore while net sales declined 6.59% to Rs 425.24 crore in Q1 June 2025 over Q1 June 2024.
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