Morepen Laboratories Limited is a diversified pharmaceutical company engaged in the manufacturing, production, development, and marketing of Active Pharmaceutical Ingredients (APIs), branded and generic formulations, and Home Health products. Incorporated in 1984 and based in Gurugram, India, Morepen Laboratories is a leading global pharmaceutical entity with a presence in over 75 countries.
The company operates through a multi-segment business model encompassing Active Pharmaceutical Ingredients (API), Domestic Formulations, Diagnostics, and Over-the-Counter (OTC) products. This integrated approach enables Morepen to cater to both domestic and international markets, maintaining a strong position across various therapeutic areas.
Morepen Laboratories boasts significant manufacturing capabilities with three state-of-the-art production facilities located in Himachal Pradesh, India. These plants adhere to high-quality standards and enable scalable production to meet global demand.
The company's extensive Active Pharmaceutical Ingredients (API) portfolio covers a wide range of therapeutic areas, including anti-histaminic, anti-asthmatic, anti-lipemic, anti-hypertensive, anti-diabetic, anti-coagulant, anti-gout, anti-depressant, and anti-malarial drugs. Key APIs include Apixaban, Edoxaban, Sitagliptin, Linagliptin, Empagliflozin, Atorvastatin, Loratadine, Desloratadine, Montelukast Sodium, Atorvastatin Calcium, Fexofenadine, Sitagliptin Phosphate, Vildagliptin, and Rivaroxaban, among others.
In the formulations segment, Morepen markets products across various therapeutic categories such as antibiotics, gastrointestinal, respiratory, analgesic, antiallergic, and neuropsychiatry, with popular brands including Saltum, Saltumax, Cefpopen, Cefpen-S, Dom-DT, Acifix, Rabipen- DSR, and Montelast. Additionally, they offer consumer health products like fever X (fever), Pain X (pain), Fiber-X (isabgol), Acidity X (acidity), and Burnol (minor burn cream), along with formulations for nutrition, probiotics, gastroenterology, gynecology, anti-allergic, central nervous system, cardiology, diabetology, and nutraceuticals.
Morepen Laboratories has strategically diversified into the home health products segment, recognizing a growing market opportunity. The company offers a range of home diagnostic products, including air purifiers, sphygmomanometers, blood glucose test strips, blood pressure monitors, breathe-free vaporizers, stethoscopes, digital thermometers, blood glucose monitors, nebulizers, heat belts, and pulse oximeters. Their Over-the-Counter (OTC) products are marketed under the well-recognized 'Dr. Morepen' brand.
This diversification into home health products has proven to be a smart move, particularly in the post-pandemic era where health monitoring devices have seen a surge in demand. The 'Dr. Morepen' brand has become synonymous with quality healthcare products for home use, contributing significantly to the company's revenue diversification strategy.
Morepen Laboratories Ltd. holds a market capitalization of ₹ 3,592 Cr as of June 3, 2025. The company's market cap is ₹ 3,435 Crore, with revenue of ₹ 1,812 Cr and a profit of ₹ 118 Cr. Promoter holding stood at 35.6% as of March 2025.
The company's recent financial performance indicates a positive growth trajectory. For the full year ended March 2025, net profit increased by 22.73% to ₹ 118.02 crore, compared to ₹ 96.16 crore in the previous fiscal year ended March 2024. Sales saw a rise of 7.17% to ₹ 1811.58 crore in the year ended March 2025, from ₹ 1690.43 crore in the previous year.
For the quarter ended March 2025, the company reported revenue of ₹ 465.85 Cr and a net profit of ₹ 20.31 Cr. However, net profit declined by 28.15% to ₹ 20.32 crore in the quarter ended March 2025, compared to ₹ 28.28 crore in the corresponding quarter of the previous year ended March 2024.
Morepen Laboratories has cultivated a strong international presence, which serves as a primary growth driver. In Q4 FY 2025, the company demonstrated resilience amidst market challenges, reporting a 7.4% revenue increase. This growth was fueled by a strategic emphasis on higher-margin formulations and a robust export strategy, which now accounts for 72% of its total revenue.
The company has been actively broadening its global footprint through strategic alliances and market expansion. Marketing collaborations with global leaders such as Immucor, USA (for immunohematology systems & consumables), Teco Medical Instruments, Germany (for coagulation systems & consumables), InTec INC. (for ELISA Kits), and Access Bio, USA (for Rapid Malaria Kits), have enabled the diagnostics division to penetrate deeper into both the consumer market and the blood bank and laboratory segments.
Morepen Laboratories is actively pursuing several strategic initiatives to drive its growth. In June 2025, the company established a wholly-owned subsidiary, MOREPEN LABS-FZCO, in Dubai for pharmaceutical trading, with an initial capital of AED 50,000. This expansion into the Middle East market signifies the company's commitment to global expansion.
The Board of Directors at Morepen Laboratories approved a loan facility of ₹ 50 crore from Qatar National Bank. This arrangement enhances liquidity for operational needs without impacting equity. This financing provides the company with additional working capital to support its expansion plans.
The company is also investing in new product development and securing regulatory approvals. Morepen Laboratories has received clearance from the Subject Expert Committee (SEC) of the Central Drugs Standard Control Organization (CDSCO) to conduct Bioequivalence (BE) studies for Resmetirom 60 mg, 80 mg, and 100 mg tablets. Resmetirom is a highly promising therapy currently under development for non-alcoholic steatohepatitis (NASH), a severe form of non-alcoholic fatty liver disease (NAFLD).
Despite facing pricing pressures in the API sector, management remains optimistic about future growth. Projections indicate a 10% to 15% increase for FY 2026 and FY 2027, driven by capacity expansions and new product launches in the diabetic and cardiac segments. The company's focus on higher-margin formulations and export markets positions it favorably for sustained growth.
Morepen Laboratories has announced ambitious growth plans, targeting ₹1,000 crore in its formulation business and the launch of four new products. The company aims to enhance market penetration and expand its product portfolio, reinforcing its commitment to innovation and quality in the pharmaceutical sector.
The company's diversified business model, strong international presence, and continuous investment in research and development provide a solid foundation for future growth. With its established manufacturing capabilities and expanding global footprint, Morepen Laboratories is well-positioned to capitalize on the growing pharmaceutical market, both domestically and internationally.
