MIDHANI and HAL partner to develop bio implants
Mishra Dhatu Nigam Limited (MIDHANI) signs an MoU with Hindustan Antibiotics Limited (HAL). This MoU will provide synergy for quality manufacturing of MIDHANI’s Bio-medical Implants and get access to the pan-India distribution of HAL. This partnership is aimed to gain advantage from the strengths of both the companies and benefit users of Bio-medical products in India.
HAL is a Government of India company manufacturing antibiotics. The company first started manufacturing activity with the production of bulk Penicillin antibiotic and then added production of Streptomycin, Gentamycin, Ampicillin, etc. to its wide range of products. Besides it also manufactures Dry Powder injectables and intravenous fluids (IVF). As a company of the Government Organisation, it helps create a balance of price of medicines in the Indian market. Through its association with various hospitals and government organisation, the company can provide MIDHANI access to a large distribution channels.
MIDHANI being a Government of India Enterprise is a miniratna under the administrative control of the Ministry of Defence. In the bio-medical technology sector, the company works to develop and manufacture Titanium Bio-Implants. MIDHANI is compliant with the international standards used for indigenizing pure titanium, titanium alloys and stainless steels. Its bio-implants are well received by various hospitals and orthopaedic surgeons thus creating a wide consumer base.
On Tuesday, the stock of MIDHANI closed at Rs. 124.70 per share, a decrease of 1.97 per cent or Rs. 2.50 compared to its previous closing price. The 52-week high is Rs.160.40 and 52-low is Rs.100.