Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
19 April, 2021 01:51 IST
Morepen Lab gets USFDA approval for 2 bulk drug units
Source: IRIS | 30 Jul, 2018, 09.42AM
Rating: NAN / 5 stars.
Comments  |  Post Comment

Morepen Laboratories has received US FDA (United States Food and Drug Administration) approvals for both its bulk drugs manufacturing facilities situated in Himachal Pradesh. While the Baddi facility has got US FDA approval for the manufacture of bulk drug "Atorvastatin Calcium", a Cholesterol reducing drug, the Masulkhana facility has recently got the nod for manufacturing an anti-asthma bulk drug "Montelukast Sodium" for export to the US market.

It is significant to note here that the US market size for these two bulk drugs viz. Atorvastatin Calcium and Montelukast Sodium is approximately Rs 50 billion and Rs 20 billion respectively. The two APIs collectively contributes around Rs 1.50 billion annual revenue to the company's topline and constitutes 44 per cent of the company's total API business.

The main API facility situated at Baddi (Himachal Pradesh) houses multiple plants for manufacture of different drugs, including Atorvastatin, and is spread across an area of around 50 acres. The Masulkhana facility of Morepen Labs got its first USFDA approval for the manufacture of ,Lor at adine' in the year 1999, followed by a other USFDA approval for 'Desloratadine' in the year 2011. Montelukast" is the third API approved out of this plant.

Sushil Suri, chairman and managing director, Morepen Laboratories, said, "History has repeated itself with the company once again securing twin USFDA approvals, without any adverse remarks from the US regulator. With this development in place, the company is set to expand its foothold in the combined Rs. 7,000 crore US market for Atorvastatin and Montelukast. The two APIs will also strengthen company's existing APIs portfolio comprising Loratadine and Desloratadine in the US market."

Shares of the company gained Rs 1.55, or 4.87%, to trade at Rs 33.40. The total volume of shares traded was 158,052 at the BSE (9.27 a.m., Monday).

 Post Comment
Name Email
Comment
Security Code type    into this box
Related Articles
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer