Morepen Laboratories Limited — Important, 19-02-2025: General Updates

The Board of Directors of Dr. Morepen Limited, a wholly owned subsidiary of Morepen Laboratories Limited, has approved the formation of a new step-down subsidiary named QUICK MED PRIVATE LIMITED, focused on the online retail pharmacy sector. Dr. Morepen Limited will contribute ₹80,000 (Cr 0.08) in cash for an 80% equity shareholding in the new entity, acquiring 8,000 shares at ₹10 each. This initiative aligns with the company's inorganic growth strategy to meet the increasing demand in online pharmacy services. The incorporation of QUICK MED is anticipated to bolster Morepen's market presence and enhance its operational capabilities in a rapidly growing sector. Investors should monitor this development as it could signify potential growth opportunities for the company.