Medico Remedies Limited to foray into ointment manufacturing segment

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”.

Disclaimer

Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Medico Remedies Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

If you have any objection to this press release content, kindly contact pr.error.rectification[at]gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.