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Medicamen Biotech announces debut in domestic pharma sector

Till now the company was focused on international markets

October 04, 2022 12:06 IST | India Infoline News Service
Medicamen Biotech Limited, a pharmaceutical company, is expanding into the domestic market through its subsidiary Medicamen Life Sciences Pvt Ltd.

Medicamen group chairman Rahul Bishnoi stated in a press release, "The Company's Vision is to become a most admired Pharmaceutical organisation by offering research & data backed, affordable & quality medicines for the Indian population. To begin with, the company has entered the cardio-vascular & Diabetes (CVD) Business, which contributes annual revenue of more than Rs50,000 crore to IPM with a CAGR of 11%."

Kamal Pahwa, a Pharma Veteran with 32 Years of Experience in the CVD Business, and Pramod Sharma of Neelkanth Drugs Pvt Ltd, India's top distribution network, have joined forces with Medicamen to establish this extremely ambitious initiative, stated Bishnoi.

Medicamen Biotech was founded in 1996 and has since focused on worldwide commerce. It has just started its state-of-the-art oncology factory in Haridwar, which is intended for regulated markets like the United States and Europe. Medicamen released its high-quality cancer drugs in the home market early this year.

At around 12.10 PM, Medicamen Biotech was trading at Rs1,002.60 per piece, up by 0.98% from its previous closing of Rs992.90 on the BSE. The scrip touched intraday high and low of Rs1,024.15 and Rs1,000.90 respectively. 

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