Morepen Laboratories

December 3, 2021

Reliance Industries, Vodafone Idea and more: Key stocks that moved most on Dec 3

Reliance Industries, Reliance Industries share price, RIL share price, stock market — **Reliance Industries |** The stock ended 2.81 percent lower. It was the worst hit on Nifty50.

Larsen and Toubro, L&T, L&T share price, stock market — **L&T |** Larsen and Toubro and Kemroc have entered into a distribution agreement that will facilitate Kemroc products to be distributed and promoted in the Indian market by L&T. This strategic partnership will enable L&T to expand its product offerings and provide comprehensive solutions to customers in the construction industry in India. This drove the scrip to close 0.60 percent higher.

Morepen Laboratories, Morepen Laboratories share price, stock market — **Morepen Laboratories |** The company’s shares ended 3 percent higher after Morepen Laboratories received the US drug regulator’s nod for Fexofinadine (Allegra), used to relieve allergy symptoms.

KEC International, KEC International share price, stock market, order win — **KEC International |** The company secured orders for transmission and distribution projects in India, the Middle East, Africa and the Americas, and an order for the construction of railway siding in the conventional segment in India. It also secured an order for infrastructure work in the water pipeline segment in India. The stock ended 0.28 percent lower.

vodafone idea share price, telecom, Vodafone Idea, stock market — **Vodafone Idea |** The stock ended 12.50 percent higher.

December 3, 2021

Morepen Labs to strengthen anti-allergy portfolio, supply Allegra generic to US market

Morepen Laboratories is in focus. The stock has performed quite well on a year-to-date basis and is up around 70 odd percent. Sushil Suri, MD of Morepen Labs said the company would be -strengthening its anti-allergy portfolio.

The company will supply Allegra generic to the US market and since it is a generic drug, they can start exporting it, said Suri, adding that they have got approval as a second source. Currently, they are waiting for validation approval. This will be the fifth approval for the US market, four of which are anti-allergy drugs, he said.

“Whatever little capacities we have now those will be doubled up and the US market exports would start,” he specified in an interview with CNBC-TV18. He said the company has seen a 36 percent growth in medical devices in Q2 due to people undertaking home testing. On the lookout for a private equity investor in medical devices, said Suri.

Watch the video for the full management interview

July 27, 2021July 27, 2021

Plan is to make key intermediates for production and reduce dependence on China, says Morepen Lab

Morepen Lab posted a good set of first-quarter earnings. Revenue and profits both jumped over 50 percent and year-on-year margins were also higher. Profit was up 57.2 percent at Rs 30.5 crore versus Rs 19.4 crore YoY and margins came in at 11.3 percent versus 10.3 percent YoY.

Throwing further light on the quarterly earnings and business outlook, going forward, Sushil Suri, Chairman & MD of the company, said they have plans to make all the key intermediates for production and be less dependent on China.
He said India is becoming an alternative to China. So, more and more customers are logging in every quarter and India is now naturally dependent less and less on China.

“We want to focus on setting up our own facilities for intermediates, which presently we are importing from China. It is a long haul and may take three to four years for us to become fully reliant or self-reliant but that’s the whole game plan that we would like to make all the key intermediates on our own, particularly for our key raw materials.”

On API segment, he said, “Basically, API has been our core and we have been growing consistently for the past few years. Last year in spite of the COVID, the China disturbance, and logistic disturbance, we grew 44 percent now even on an increased base current year, current quarter we have grown at 17 percent. And this is despite the lockdown during half of April and almost full of May, 17 percent growth is very good.”

Furthermore, “If we go to the product file –particularly our loratadine, which is our core product, we have worked better in the loratadine that has grown 16 percent and montelukast, which is basically anti-asthmatic drug and during COVID time, it is one product, which has been respected very well and was in was in long demand. Even today it is in short supply rather because some of the raw materials for that are also in short supply and the prices have gone up. So montelukast is giving us good business,” said Suri.

Suri said in the new molecules the company has grown by 110 percent. He added that during COVID times as there was a lot of comorbidity issues, anybody who was diabetic, so the one was forced to take extra care and extra medicine, therefore, diabetic drugs are doing very well. Similarly, the allergy drug is also doing very well. “These are all related to I would say to COVID, post-COVID, pre-COVID because comorbidity, diabetic, cardiac, these are all related things. So that’s where the main growth is coming,” he said.

For the entire interview, watch the video

Morepen Laboratories Q1FY22: Profit jumps 57% to Rs 30.47 cr

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Summary

Drug firm Morepen Laboratories on Tuesday reported a 57 percent increase in its consolidated net profit at Rs 30.47 crore for the quarter ended June 30, 2021, helped by higher revenue. The company had posted a net profit of Rs 19.37 crore for the corresponding period in the previous financial year.

Its net revenue stood at Rs 388.31 crore in the quarter under consideration, up 50 percent against Rs 258.97 crore a year ago, Morepen Laboratories said in a regulatory filing. The company has tied up with The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, for the expansion of production of Sputnik V vaccine in an exclusive facility in Himachal Pradesh.

“The first six batches are being shipped to the Gamaleya Center, Moscow, for quality approval. We are all set to start the commercial production within 4-6 weeks subject to product approvals and regulatory permissions,” the company said.

Shares of Morepen Laboratories were trading 4.80 percent higher at Rs 69.90 apiece on BSE.

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index	Price	Change
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sensex	₹1,882.60	+28.30
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index	Price	Change
nifty 50	₹16,986.00	-7.15
sensex	₹1,882.60	+8.30
nifty IT	₹2,206.80	+3.85
nifty bank	₹1,318.95	-1.95

index	Price	Change
nifty 50	₹16,986.00	-7.15
sensex	₹1,882.60	+8.30
nifty IT	₹2,206.80	+3.85
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