Eiko Lifesciences signs MoU with Delicare Lifesciences; Stock trades lower

30 Aug 2022 , 10:54 AM

Eiko Lifesciences Limited has signed a Memorandum of Understanding (“MOU”) with Delicare Lifesciences Private Limited.

According to the filing, this MOU provides for use of existing and future manufacturing facilities of Delicare Lifesciences Private Limited and Eiko Lifesciences in mutual interest of both the Companies. 

Further, this MOU provides for assistance in the form of efficient working Capital Management, development and commercialization of new products, logistic supply chain management support etc. This will also benefit the Company in the smooth management of its day-to-day operation including manufacturing facilities at Badlupur, DistThane, Maharashtra and operational cost reduction of the company.

“Company expects to be benefitted from this arrangement from the third quarter of this financial year onwards”, said Eiko Lifesciences in a filing on Monday.

On Tuesday, at around 10:55 AM, Eiko Lifesciences was trading at Rs37.55 per share lower by 0.66% on the BSE.

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