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PNN
New Delhi [India], December 31: Medicamen Organics Limited (MOL) (NSE- MEDIORG) a leading manufacturer of pharmaceutical and health products, has announced a strategic partnership with Medi Hub Organic Ltd. (MHOL), a newly incorporated company in Nepal. This collaboration aims to establish a state-of-the-art pharmaceutical manufacturing facility in Nepal that will produce a broad range of pharmaceutical products. Under the terms of the Memorandum of Understanding (MOU), MOL will invest Rs 9 Cr (NPR 14.4 Cr) in MHOL to support the construction of the manufacturing facility and meet working capital requirements. As part of the agreement, MOL will hold a 30% stake in MHOL, further reinforcing its commitment to expanding its presence and operations in the region and increase its manufacturing capacities. The new facility will be constructed to meet CGMP (Current Good Manufacturing Practices) norms and is expected to achieve European quality standards in the near future. This partnership will allow MHOL to leverage MOL's expertise in production and technology, ensuring the supply of high-quality products internationally, while fostering greater self-sufficiency in Nepal's pharmaceutical market. Moreover, the strategic alliance will promote technology transfer and collaborative procurement efforts, enabling both companies to enhance product offerings and contribute to the growth of the pharmaceutical sector across Nepal, South Asian region and EU. This partnership marks an important step in the growth trajectory of both MOL and MHOL as they look to address the increasing demand for high-quality healthcare products in strategic markets. Commenting on the collaboration, Mr. Bal Kishan Gupta, Managing Director said, " This collaboration with Medi Hub Organic Ltd. marks a significant step in our growth strategy. It reflects our commitment to expanding into key markets while building synergies that drive innovation and long-term value. Together, we are poised to meet the evolving needs of the healthcare sector and strengthen our presence across strategic regions." (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
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