Gurugram:Morepen Laboratories Limitedhas announced that its subsidiary, Morepen Medipath Limited (formerly Morepen Medtech Limited), has entered into a joint venture (JV) agreement with UAE-based Bimedical FZE to form a new joint venture company in India. The proposed joint venture company will carry on the business of manufacturing, trading and selling of medical devices related products. Both companies will hold equal ownership, with Morepen Medipath and Bimedical FZE contributing to the share capital in a 50:50 ratio. Through this arrangement, Morepen Laboratories will indirectly hold 30% shares of the proposed joint venture company through Morepen Medtech. The agreement specifies that the consideration will be in cash, and the authorized and paid-up capital of the new company will be decided in due course. The company clarified that no regulatory approvals are required for the incorporation of the JV, which will be established in India. Details such as the name and date of incorporation of the new entity will be disclosed later by the company. In July, reported the incorporation of Morepen Medical Equipment Trading L.L.C, a new step-down subsidiary of Morepen Laboratories, in mainland Dubai, United Arab Emirates (UAE). Read also:Morepen Labs incorporates new step-down subsidiary in mainland Dubai In June, Morepen Labs incorporated a wholly owned subsidiary, MOREPEN LABS - FZCO, in Dubai, United Arab Emirates. Read also:Morepen Labs incorporates wholly owned subsidiary in Dubai In April, the company also announced an expansion of its salesforce, with plans to onboard over 1,000 professionals over the next three years. Of these, 200 new team members are expected to join in FY26. The recruitment drive is part of Morepen’s strategy to strengthen engagement with doctors, pharmacies, patients, and healthcare professionals across India. Morepen Laboratories Ltd. is an Indian pharmaceutical company with a global footprint across 82 countries. All APIs are manufactured in-house at USFDA-approved facilities. Read also:Morepen Labs plans to employ over 1000 professionals