Shalby Ltd's subsidiary receives import license from CDSCO

Shalby Ltd's Wholly-Owned subsidiary Company M/s. Mars Medical Devices Limited, has received Import License from Central Drugs Standard Control Organization, Ministry of Health and Family Welfare, Govt. of India, for import of Medical Devices for the Complete range of Joint replacement products i.e. Total Knee System, Total Hip System etc. from M/s Shalby Advanced Technologies Inc. USA (Step-down subsidiary of the Company) today.

This development is fully in line with our stated strategy to grow our orthopedic implant business and establish our footprint in the Medical device market in India. This is a big milestone achieved by the Sha I by group in its journey to serve many more patients in India. The synergies between the businesses are compelling and will bring in immediate benefits of sourcing US FDA approved quality implants into India across our hospital group including franchise networks as well as build a brand of repute amongst orthopaedic surgeons in India through our distribution channels.

Shalby Ltd has performed more than 1,30,000 joint replacement surgeries so far and continues to be the leader in India and globally in terms of the volume of surgeries performed annually.

Shares of Shalby Limited was last trading in BSE at Rs. 138.50 as compared to the previous close of Rs. 140.00. The total number of shares traded during the day was 14240 in over 460 trades.

The stock hit an intraday high of Rs. 141.75 and intraday low of 138.00. The net turnover during the day was Rs. 1978767.00.

Source : Equity Bulls

Keywords

Shalby INE597J01018 MarsMedicalDevices CDSCO ImportLicense JointReplacementProducts