Medico Remedies Limited to foray into ointment manufacturing segment

Medico Remedies Ltd. has completed its trial production rounds at the newly established state of the art ointment manufacturing plant at Palghar. The new manufacturing facility measuring 15,000 sq ft. has been constructed adjacent to the existing plant which manufactures tablets and other medicines. The facility will have a capacity to manufacture upto 3 million tubes monthly.

Medico Remedies is known to be a trusted manufacturer, supplier and exporter of wide range of pharmaceuticals products in both General and B-Lactam categories. The company is empowered with the latest WHO-GMP and ISO 9001-2015 certifications. The state of the art manufacturing unit has also been approved by the National Drug Authority of Uganda, Kenya, Ghana, Nigeria and Malawi to name a few.

Commenting on the development, Mr Haresh Mehta, Chairman and Whole Time Director 'Medico Remedies' said: "We are glad to announce that we have completed trial production rounds at the newly established state of the art ointment manufacturing plant at Palghar.

We are of the view that, this new facility would be able to cater to the fast growing ointment industry which is growing at 17 % year on year basis. This new facility is revised schedule M Compliant and plans to apply for WHO GMP certification soon. The facility will have a capacity to manufacture upto 3 million tubes monthly. We are in advanced talks with multiple global players for manufacturing these products. We intend to apply for UK MHRA, US FDA and PIC/S certifications in future for this plant. This will allow the company to enter regulated markets like USA, EUROPE etc.

In line with our strategy, we continue to build on our portfolio to bring cutting-edge technologies and solutions to more and more consumers. I thank the entire team of Medico Remedies Limited and all our partners for their efforts, hard work and dedication in taking the company's business to new heights."

Source : Equity Bulls

Keywords

MedicoRemedies TrialProduction Ointment ManufacturingPlant Palghar