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Morepen Lab’s anti-asthma bulk drug
Press Release
Thursday, February 01 | 03:02 PM
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Sushil Suri, CMD Morpen Laboratories Ltd.Mumbai : Morepen Labs achieved a major breakthrough as the United States Food and Drug Administration (USFDA) cleared its anti-asthma bulk drug Montelukast Sodium for sale in the US market. This development has provided Morepenan entry into the Rs. 2000 crore (Approx. $ 300 million) US market for Montelukast Sodium.
 
Morepen Laboratories Ltd. has entered into a tie-up with Vésale Pharma International of Belgium to strengthen its position in the Rs. 1000 crore Probiotics market in India. An agreement to this effect between the two pharma biggies was officially signed in the august presence of the King and the Queen of Belgium who were recently on their State visit to the Republic of India.
 
Morepen Laboratories Ltd. has reported yet another growth-filled quarter by registering 107 per cent rise in its net profit in Q3 of FY 2017-18 at Rs. 9.67 crore despite a marginal rise in its net sales revenue at Rs. 139.87 crore, vis-a-vis corresponding quarter of the previous fiscal. The Q3 FY 2017-18 financial results were taken on record at a meeting of the company’s board of directors here on Monday.
 
Mr. Sushil Suri, Chairman and Managing Director, Morepen Laboratories Ltd. said, “During the quarter, the focus was on high value drugs, cost reduction and improving margins, The growth in Montelukast and Atorvastatin business in Q3 FY 2017-18 has helped the API business to make up for fall in sales revenues recorded by other products in this category. We are working on consolidation of our product portfolio so as to remain focused on high value APIs and also expand Self Health brand Dr. Morepen which is consistently registering phenomenal growth across all the product segments.”

 
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