Morepen Labs Share Price

Morepen Laboratories Limited is a leading pharmaceutical and healthcare company. It manufactures diverse products, including pharmaceuticals, over-the-counter drugs, diagnostic kits and healthcare devices. Morepen has gained recognition for quality and innovation in the healthcare sector.

Morepen began operations in 1985. The founder of the company was Late KB Suri. The company began as a player in the Active Pharma Ingredients (API) market. Later, it advanced the value chain to complicated multi-stage synthesis from basic semi-synthetic goods.

In 1993, Morepen tied-up with Swiss company, Techquim Establishment to produce Loratadine and Cisapride.

The company began working on high-value compounds in 1999 and used robust research and development to create unique technology and forms.

The same year, the company received approval for its facilities based on USFDA (United States Food and Drug Administration) guidelines. Additionally, the company launched its diagnostic division- Medipath, for the first time.

In 2000, the company launched Dr. Morepen’s brand and established a brand-new market category known as Fast Moving Health Goods (FMHG). Furthermore, Morepen partnered with DiaMed AG, another Swiss company, to produce malaria kits and blood grouping products.

In 2001, Morepen acquired the well-acclaimed brand Burnol and the cough and cold brand Lemolate. In 2003, the company joined hands with Analyticon to sell urinalysis reagent strips. Also, it got 180-day marketing rights for the drug in the United States.

Morepen's R&D centre at Baddi, Himachal Pradesh, was recognised by the Government of India in 2019. In the same year, the company launched APIs for many anti-diabetic molecules. During the Covid era, the company launched over 20 products for Covid-19. It collaborated with RDIF to produce Sputnik Vaccines in India.

Morepen Laboratories Limited is a Public limited company incorporated in India. Morepen has been listed on the BSE and NSE since 1992.

Morepen Laboratories Limited’s market capitalisation stood at over ₹2,300 crore as of January 17, 2024. Morepen Lab share price has gained more than 53% in the last three years.

Morepen Laboratories business operations

The company's operations include the development, production, manufacturing, and marketing of a broad spectrum of home health products, branded and generic formulations and active pharmaceutical ingredients (APIs).

Its registered office is located in the Solan District of Himachal Pradesh. The company's manufacturing facilities are located in Himachal Pradesh. And Morepen’s trading, ancillary and associated operations serve both local and international markets.

Morepen has a significant worldwide footprint and exports to more than 82 nations across the globe. It is certified by all-important regulatory bodies, including the USFDA, WHO, and EU health authorities.

Over 100 million customers use Morepen's domestic products, which are sold under the brands Dr. Morepen and Gubb World. These products offer a wide range of OTC, healthcare, and grooming solutions.

The company is also trying to penetrate the anti-cancer segment by exploring development of key drugs, including Ibrutinib, Enzalutamide, Abemaciclib, Palbociclib, Olaparib & Axitinib.

Financial Highlights

• The company’s consolidated revenue in FY23 stood at ₹1423.66 crore, down 8.6% year-on-year compared to ₹1,557.13 crore in FY22.
• Profit after tax (PAT) declined 62.37% year-on-year to ₹38.67 crore in FY23, as against ₹101.68 crore in FY22.
• Its earnings per share (EPS) stood at ₹0.77 in FY23 as against ₹2.26 in FY22.