Shares of Medico Remedies Ltd jumped 4.91% to ₹51.50 in early Tuesday trade after the company announced securing a significant government supply order worth USD 1.78 million (approximately ₹14.8 crore) from the Ministry of Health and Medical Industry of Turkmenistan.
According to the company’s filing, the order has been placed by The Main Pharmacy Association of the Ministry, which oversees centralized procurement and distribution of essential medicines across Turkmenistan’s public healthcare sector.
Under this contract, Medico Remedies will supply tablets, capsules, and dry syrups to the ministry and aims to complete delivery within the shortest possible timeframe. The company clarified that the order was awarded by an international entity, and there is no related-party involvement.
This development marks a notable achievement for the Mumbai-based pharmaceutical manufacturer, strengthening its international footprint and export portfolio.
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