Medico Remedies Secures International Government Order Worth USD 1.4 Million from Dominican Republic Program
Medico Remedies Limited has secured a significant government supply order valued at approximately USD 1,406,450 from PROMESE/CAL, the essential medicines program of the Dominican Republic. The contract involves supplying tablets, capsules, and dry syrups to the international entity responsible for centralized procurement and distribution within the country’s National Public Health System.The acquisition of this order represents a substantial business win for Medico Remedies Limited in the pharmaceutical sector. The company has agreed to supply the full consignment within a three-month period following the contract award.
PROMESE/CAL is tasked with managing the centralized purchase and distribution of medicines, health supplies, and laboratory reagents necessary to meet the demand of the Dominican Republic’s public health system.
Details regarding the awarded contract are summarized below:
| Aspect | Details |
|---|---|
| Client Entity | PROMESE/CAL (Programa de Medicamentos Esenciales y Central de Logística), Dominican Republic |
| Nature of Order | Government supply order for tablets, capsules and dry syrups |
| Order Value | Approximately USD 1,406,450 (equivalent to INR 13.38 Crores) |
| Timeline | Full supply completion within 3 months |
| Transaction Type | International Entity order |
The transaction is not linked to any interest held by the promoter group or its affiliated companies, and it has been confirmed as a non-related party transaction.
MEDICO Stock Price Movement
Shares of Medico Remedies Limited slipped by 2.98% today, closing at ₹48.53 in post-market trading. The stock traded a total of 671,646 shares after dipping from the previous close of ₹49.06.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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