Morpen Labs incorporates subsidiary in Dubai
Morepen Laboratories said that it has incorporated a wholly owned subsidiary, Morepen Labs - FZCO in free zone, Dubai, United Arab Emirates.
The newly formed wholly owned subsidiary namely Morepen Labs FZCO, will trade in pharmaceuticals/ medicines (outside UAE).The company has subscribed 5000 ordinary shares of AED 10 each, aggregating to AED 50,000. The incorporated entity being a wholly owned subsidiary, is a related party of the company.
Morepen Laboratories is a vertically integrated, innovation-led pharmaceutical and healthcare company delivering highquality APIs, branded generics, medical devices, and consumer wellness products to over 80 countries worldwide.
The companys consolidated net profit declined 28.18% to Rs 20.31 crore despite a 10.11% jump in revenue from operations to Rs 465.85 crore in Q4 FY25 over Q4 FY24.
The counter declined 2.29% to settle at Rs 62.23 on the BSE.
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