Aarti Drugs incorporates subsidiary in the UAE

Aarti Drugs announced that it has incorporated a wholly owned subsidiary (WOS) company named as Pinnacle Life Science LLC in the United Arab Emirates (UAE).

The new subsidiary is registered with International Free Zone Authority, Fujairah at the UAE as of January 5, 2020. The nominal capital of the new subsidiary is AED 1,50,000, which has been divided into 1,000 shares of AED 150. The 100 per cent wholly-owned subsidiary of Aarti Drugs is yet to commence its business operations. Pinnacle Life Science LLC is expected to assist the parent company for expanding and exploring business opportunities in the Middle East and North Africa.

Aarti Drugs Limited is a pharmaceutical company, offering active pharmaceutical ingredients (APIs) in a range of therapeutic categories, such as anti-inflammatory, cardioprotectant, antifungals, antibiotic, antidiabetic, sedative, and vitamins. Its products under APIs include Aceclofenac, Diclofenac Potassium, Diclofenac Diethylamine, etc.

On Monday, the stock of the company closed at Rs 562.30, down by 1.06 per cent or Rs 6.05 per share. The 52-week high is Rs 705 and 52-week low is Rs 419.30 on the BSE.