Morepen Laboratories , a prominent player in the Indian pharmaceutical sector, has announced a significant strategic move through its subsidiary, Morepen Medipath Limited (MML). The company has entered into a 50:50 joint venture agreement with UAE-based Bimedical FZE, marking a notable expansion into the medical devices industry.

Joint Venture Details

The joint venture agreement, executed between MML (formerly known as Morepen Medtech Limited) and Bimedical FZE, will lead to the formation of a new joint venture company (JVC). This partnership aims to leverage the strengths of both entities in the medical devices sector.

Ownership Structure

According to the disclosure made by Morepen Laboratories to the stock exchanges:

• MML will acquire a 50% shareholding in the proposed JVC.
• Morepen Laboratories will indirectly hold 30% shares in the proposed JVC through MML.
• The authorized and paid-up capital of the new entity are yet to be decided.

Business Focus

The newly formed JVC will focus on:

• Manufacturing medical devices
• Trading in medical device products
• Selling medical device-related products

This move signifies Morepen's strategic expansion into the growing medical devices market, potentially diversifying its product portfolio and revenue streams.

Regulatory Compliance

The company has stated that the proposed JVC will be incorporated in India. As per the disclosure, no governmental or regulatory approvals are required for this incorporation. The joint venture falls under the related party transactions for Morepen Laboratories, given MML's status as its subsidiary.

Financial Considerations

Both MML and Bimedical FZE will contribute to the share capital of the proposed JVC in a 50:50 ratio. The consideration for this joint venture will be in cash, although the specific amount has not been disclosed.

Market Impact

This strategic partnership could potentially strengthen Morepen's position in the healthcare sector, particularly in the medical devices segment. By combining Morepen's domestic market presence with Bimedical FZE's international expertise, the joint venture may be well-positioned to capitalize on growth opportunities in the medical devices industry.

Investors and industry observers will be keenly watching the developments of this joint venture, as it represents a significant step in Morepen's business strategy and could influence its future growth trajectory in the medical devices market.

Morepen Laboratories Limited , a prominent pharmaceutical company, conducted its 40th Annual General Meeting (AGM) on September 6, 2025, via video conferencing. The meeting, chaired by Sushil Suri, Chairman and Managing Director, addressed several crucial agenda items and passed important resolutions.

Key Highlights

• Dividend Declaration: The company approved a final dividend of ₹0.20 per equity share with a face value of ₹2 each for the financial year ended March 31, 2025.

• Financial Statements: Shareholders adopted the audited financial statements, including consolidated financial statements, for the year ended March 31, 2025.

• Director Reappointment: Sanjay Suri was reappointed as a director, retiring by rotation and offering himself for reappointment.

Special Business Items

Independent Director Reappointment

Dr. Savita was reappointed as an Independent Director.

Whole-Time Director Reappointment

Sanjay Suri was reappointed as a Whole-Time Director.

Medical Devices Business Transfer

The meeting approved an extension of time for transferring the Medical Devices Business to the subsidiary, Morepen Medipath Limited, as a going concern on a slump sale basis.

Auditor Appointments

• M/s. Vijender Sharma & Co. were ratified as Cost Auditors.
• M/s. PD and Associates were appointed as Secretarial Auditors for a term of five years.

Related Party Transactions

The AGM approved salary arrangements for relatives of key management personnel:

• Ms. Aanandi Suri, relative of Whole-Time Director Sanjay Suri
• Mr. Arjun Suri, relative of Chairman & Managing Director Sushil Suri

Financial Flexibility

A special resolution was passed allowing for the conversion of loans into shares or convertible instruments of the company.

Meeting Proceedings

The AGM, which began at 1:00 p.m. IST, was conducted in compliance with circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India. Shareholders were provided with remote e-voting facilities from September 3 to September 5, 2025, and additional e-voting during the meeting.

Mr. Praveen Dua of M/s. PD and Associates was appointed as the scrutinizer to oversee the voting process. The meeting concluded at 2:19 p.m. IST, with the company set to announce the voting results separately.

This AGM marked a significant event for Morepen Laboratories, addressing key governance issues and setting the stage for the company's future strategic direction in the pharmaceutical sector.