Morepen Laboratories has announced the incorporation of a wholly owned subsidiary named Morepen Labs – FZCO in the free zone of Dubai, United Arab Emirates. This new entity will engage in trading pharmaceuticals and medicines outside of the UAE.

Credit: Business Standard

The company has subscribed to 5 000 ordinary shares at AED 10 each, totaling AED 50 000. As a wholly owned subsidiary, Morepen Labs – FZCO is classified as a related party of Morepen Laboratories.

Morepen Laboratories is known for being a vertically integrated, innovation-driven pharmaceutical and healthcare company. It supplies high-quality active pharmaceutical ingredients (APIs), branded generics, medical devices, and consumer wellness products to over 80 countries globally.

In its latest financial results, the company reported a consolidated net profit decline of 28.18%, amounting to Rs 20.31 crore. This decrease occurred despite a 10.11% increase in revenue from operations, which rose to Rs 465.85 crore in Q4 FY25 compared to Q4 FY24.

Following the announcement, shares of Morepen Laboratories fell by 2.29% to close at Rs 62.23 on the Bombay Stock Exchange.