Penny Stock Under Rs 2: Board of the Pharmaceutical Company Approves Rs 182.7 crore Export Deal and Rights Issue for R&D Expansion
This pharmaceutical company involved in the trading and distribution of raw materials for the pharmaceutical industry.
Remedium Lifecare Limited has announced the strategic objectives of its upcoming rights issue, which has been approved by the Bombay Stock Exchange (BSE). The company, founded in 1988, is a BSE-listed pharmaceutical company involved in the trading and distribution of raw materials for the pharmaceutical industry.
A key highlight is Remedium Lifecare's 182.7 crore multi-year export deal with a UK-based pharmaceutical partner. The company will use proceeds from the rights issue to invest in research and development, specifically to enhance its capabilities in complex and high-value pharmaceutical intermediates. This includes establishing dedicated labs focused on the CNS, metabolic, and oncology therapeutic areas.
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Additionally, Remedium Lifecare will invest in a new quality control facility in Telangana. This investment aims to improve the research and development capabilities and quality maintenance of pharmaceutical products, ensuring compliance with domestic and international standards. The company also aims to strengthen its business relations with domestic and international organisations. A portion of the proceeds from the rights issue will be used to prepay debt, improve financial resilience, and for general corporate purposes, including talent acquisition, IT infrastructure upgrades, and international marketing.
About Remedium Lifecare Ltd
Founded in 1988, Remedium Lifecare Ltd. is a BSE-listed pharmaceutical company engaged in the trading and distribution of raw materials as a supply chain management for the pharmaceutical industry. With an emphasis on quality, compliance, and global reach, the company continues to expand its presence while playing a pivotal role in India’s pharmaceutical ecosystem.
Disclaimer: The article is for informational purposes only and not investment advice.