This small-cap pharma company has forayed into domestic markets; do you own it?
Over the last six, the stock of Medicamen Biotech rallied 40.43 per cent while it has skyrocketed 83.58 per cent in the last one year
The pharmaceuticals major Medicamen Biotech has announced that it is foraying into the domestic business with its subsidiary - Medicamen Life Sciences Private Limited.
In a press release, Medicamen Group Chairman Rahul Bishnoi stated, “The vision of the company is to become the most-admired pharmaceutical organisation by offering research & data backed, affordable & quality medicines for Indian population and to start with, the company has entered cardio-vascular & diabetes (CVD) business, which contributes annual revenue of more than Rs 50,000 crore to IPM with a CAGR of 11 per cent.”
Kamal Pahwa, a pharma veteran with 32 years of experience in the CVD business, and Pramod Sharma of Neelkanth Drugs Pvt Ltd, a leading distribution network in India have joined hands with Medicamen to launch this venture.
Medicamen Biotech Ltd develops & markets a wide range of branded and generic formulations in the pharmaceutical industry.
The company is engaged in the manufacturing & marketing of branded and generic pharmaceutical formulations in the overseas as well as domestic markets. It is a manufacturer & supplier of a range of products such as tablets, capsules, ointment, liquid syrup, and dry syrup.
It has recently commenced its state-of-the-art oncology plant at Haridwar, which is meant for regulated markets like US and Europe. Earlier this year, the company launched its high-quality oncology products in the domestic market.
Over the last six, the stock of Medicamen Biotech rallied 40.43 per cent while it has skyrocketed 83.58 per cent in the last one year.
On Monday, the shares of Medicamen Biotech opened at Rs 1,029 per share on NSE and rallied during the early market hours to record an intraday high of Rs 1,045.20.
Watch out for this trending biotech stock in the forthcoming trading sessions!