MedPlus

Domestic brokerage firm Nuvama analysts forecast a modest sequential slowdown but a healthy ~17 per cent year-on-year (Y-o-Y) Ebitda growth, led by hospitals and diagnostics.

MedPlus continued to benefit from strong sales of products under its private label brands in both the pharmaceuticals and consumer wellness categories

Drugmakers Mankind Pharma's and Cipla's domestic revenues were boosted by strong demand for OTC medications, the companies said in their second-quarter earnings statements

In Europe, markets closed higher in the previous session after the Bank of England maintained its interest rates at a 16-year high of 5.25 per cent, as widely anticipated

Stocks to watch on May 29: Wockhardt reported its Q4 earnings, disclosing a net loss of Rs 177 crore compared to a loss of Rs 237 crore YoY

MedPlus Health Services, a retail pharmacy and diagnostics chain in India, is set to elevate its "store generics" (in-house brand) to 50-60 per cent contribution to the firm's revenues in the next two to three years, drawing inspiration from the successful practices of US pharma retail giants like Walgreens and CVS. The concept of "store generics" involves a retail chain exclusively selling its own branded medications alongside innovator drugs. MedPlus currently witnesses around 12 per cent of its revenues from store generics. This strategic move follows the triumphant adoption of the "store generics" model in Telangana and subsequent expansions into Andhra Pradesh, Tamil Nadu, Karnataka, Maharashtra, West Bengal, and Odisha, Gangadi Madhukar Reddy, MD CEO of MedPlus said. Over the past six months, MedPlus has witnessed over 26.2 lakh customers saving a substantial Rs. 139.7 crores by opting for MedPlus brands, he said. To ensure the quality and efficacy of their medications, MedPl

MedPlus Health Services Ltd, which runs a chain of pharmacies, on Wednesday said it will be selling 500 off-patent therapeutic and chronic medicines under its own brand with a massive discount of 50-80 per cent. G Madhukar Reddy, managing director and chief executive officer, MedPlus, in a press conference here said the company tied up with multiple reputed pharmaceutical manufacturing companies to produce high quality off-patent medicines that enables the firm to pass on the benefit to the consumer. "MedPlus will initially offer discounts on over 500 therapeutic and chronic medicines and will eventually extend discounts on more than 800 products in the next three months," Reddy said. These medicines will include over-the-counter (OTC) and prescription drugs used in treating various diseases such as hypertension, diabetes and kidney ailments, he further said. The 500 products currently being offered through this discount channel constitute 53 per cent of the therapeutic segments an

Adani Group stocks may be in limelight after both Adani Enterprises and Adani Wilmar reported earnings for the December quarter.

Premji Invest's PI Opportunities Fund and Natco Pharma were among the selling shareholders

The stock listed at Rs 1,015, a gain of 27.51 per cent against the issue price on BSE.

MedPlus Health sees bumper debut, lists at 31% premium; Infosys hits new all-time high, stock ends higher for third session, analysts bullish on IndiGo and SpiceJet despite travel curbs

The broader markets also finished with significant gains with the BSE Midcap & Smallcap indices up 1 per cent and 0.7 per cent, respectively. IT, financials and energy shares were the top gainers.

The stock listed at Rs 1,040, a 31 per cent premium to its issue price of Rs 796 per share on the National Stock Exchange.

The Grey Market Premium (GMP) indicates a likely listing gain of 15-20 per cent for Medplus Health Services

Through the IPO, Medplus raised Rs 600 crore in fresh capital. The remaining Rs 798 crore was an OFS

Medplus Health IPO subscribed 1.5x on penultimate day; Data Patterns subscribed 3.3x on opening

Pharmacy retail chain MedPlus Health Services' initial public offer was subscribed 1.46 times on the second day of subscription on Tuesday.

The Rs 1,398.3-crore IPO received bids for 8,762,598 shares against 12,575,154 shares on offer

The BSE Midcap index was down 0.5 per cent, while the Smallcap index was up 0.2 per cent

The price band for Medplus' Rs 1,398-crore IPO is Rs 780-796 per share.