PNN
Mumbai (Maharashtra) (India), January 4: Medicamen Organics Limited (MOL) (NSE-MEDIORG), one of the leading manufacturers of pharmaceutical and health products, announces the establishment of a new subsidiary, Grande Etoile Pharmaceuticals Limited (GEPL). announced. ).
GEPL is incorporated as a public limited company in India with an initial authorized capital of INR 100 million and a paid-up capital of INR 50 million. The share ownership structure is 50.92% owned by Medicamen Organics Limited and 49.08% owned by other shareholders. The company also acquired 2,54,600 equity shares at face value of Rs 10 per share.
GEPL's main objective is to strengthen the company's footprint in the pharmaceutical, healthcare and cosmetics industries. This acquisition aligns seamlessly with the company's strategic objectives. The subsidiary will focus on the distribution and export of pharmaceutical products, including pharmaceuticals, antibiotics, vaccines and nutritional supplements, as well as cosmetics and personal care products. This initiative is part of the company's broader strategy to diversify its portfolio, strengthen its distribution network and explore new market opportunities in the evolving healthcare and wellness industry.
Medicamen Organics Limited is committed to strengthening its presence internationally through strategic acquisitions aimed at building a strong footprint in the pharmaceutical sector. This initiative is expected to act as a catalyst for sustainable business growth in the coming years.
Commenting on the subsidiary, President Bal Kishan Gupta said, “This is a pivotal step in elevating the company's position as a leader in the healthcare and pharmaceutical industry.The creation of Grand Etoile Pharmaceuticals Ltd. We will strengthen our efforts to In addition, we are expanding our portfolio and expanding our scope of business to meet the rapidly increasing demand for quality healthcare products across diverse markets, creating new growth opportunities, brand promotion, and enable faster penetration into major markets.
We believe this move will not only contribute to our financial performance, but also allow us to play a more meaningful role in improving access to affordable and reliable healthcare solutions around the world. ”
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