Morepen Laboratories has received an approval for the hiving off the Medical Devices Business, being an undertaking, to Morepen Medtech, a subsidiary of the company, on a 'slump sale' basis as a going concern. This hiving off is subject to the receipt of requisite regulatory approvals, including approval of the members of the company. The Board of Directors of the Company at their meeting held on January 14, 2025 has considered and approved the same.
The completion of the slump sale of the Medical Devices Business is expected to be completed on or before September 30, 2025, subject to receipt of requisite regulatory and other approvals and fulfilment of customary conditions precedent and in accordance with the provisions of the Business Transfer Agreement (BTA). The BTA will be executed in due course.
Morepen Laboratories is engaged in the manufacturing and sale of APis/ Bulk Drugs, Home Diagnostics, Formulations and OTC products.
| Company Name | CMP |
|---|---|
| Sun Pharma Inds. | 1675.20 |
| Dr. Reddys Lab | 1235.40 |
| Cipla | 1238.30 |
| Zydus Lifesciences | 942.55 |
| Lupin | 2324.25 |
| View more.. | |
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