Morepen Laboratories

Company eyes Rs 30 crore revenue in first year, Rs 200 crore by 2030

Expanding capacities, backward integrating production and eyeing US market for exports

Earlier this month, the company had incorporated a wholly-owned subsidiary, Morepen RX.

Drug firm Morepen Laboratories on Thursday said its consolidated net profit declined by 55 per cent to Rs 12 crore for the fourth quarter ended March 2022.

Morepen's product is the generic version of Sanofi Aventis' anti- allergy drug.

Morepen Laboratories on Wednesday said its shareholders have approved to shift its medical devices business into a newly incorporated wholly-owned subsidiary

The approval of samples, licensing, and final production will take around two months and the vaccine would be available in India for sale also in two months, says CMD Sushil Suri

Drug firm Morepen Laboratories on Tuesday reported an over two-fold rise in its consolidated net profit at Rs 26.76 crore for the quarter ended March 31, 2021, on account of higher revenue

On April 28, Morepen Group sealed $100 million (Rs 750 crore approx.) investment from Corinth Group of Switzerland

Morepen Laboratories said its board has approved raising over Rs 433 crore through issue of shares to Switzerland's private venture capital firm Corinth Investment Holdings and Liquid Holdings

Morepen Laboratories was locked in upper circuit for the third straight trading day, up 10% at Rs 19.43 on the BSE.

In a clarification issued today, the company said that the matter was pertaining to the year 2003 which has been finally settled by the Sebi.

The stock surged 14% to Rs 36.20 on the NSE after the company received USFDA approval for both its bulk drugs manufacturing facilities situated in Himachal Pradesh.

The stock surged 18% to Rs 29.60, also its 52-week high on NSE, after the pharmaceutical company announced that the USFDA has cleared anti-asthmatic drug, Montelukast Sodium.

The stock hit a high of Rs 27.25 and a low of Rs 26.10 so far during the day

To expand its services in the diagnostics and therapy segment in the coming years

Dr Morepen Now is also entering into a strategic partnership with Singapore-based Renew group to expand its centres few years from now