Stocks In News - Morepen Lab(Must Grab)

1. Morepen Laboratories  has got approval from  US health regulator  to Montelukast Sodium, used in managing asthma symptoms and seasonal allergies, for sale in the US market.
2. The US Food and Drug Administration (USFDA) has cleared Montelukast Sodium, a bulk drug/API manufactured by Morepen Laboratories, for sale in the US market.
3. This will give Morepen an entry into the Rs 2,000 cr (approximately USD 300 million) US market for Montelukast.
4.  The first commercial orders for the bulk drug are expected in the second quarter of the next financial year.
5.  The patent for Montelukast has expired in all markets worldwide.
6. Company  is the market leader for Montelukast in India with over 50% market share, supplying to almost all major finished dosage manufacturers in India.
7. The company is among the largest producers on Montelukast globally with an annual capacity of more than 30 tonns.
8. The company is going to get business of around Rs 500 cr from this API in next 3-4 years.
9. Q2FY18 Net Profit  jumped 24% to Rs.10.37 cr due to lower interest cost.
10. Export is Rs.34.52 Cr.
11. Interest burden is drop 38% Rs.1.29 Cr.
12. In the Next 3 Quarters Company may become the Debt Free.
13. Compay already Tied up with Vesale Pharam of Belgium targeting Rs1000 cr probiotics market in india.
14. The Company is have 3 Manufacturing Facilities (Parwanoo,Baddi) Masulkhana(HP) is approved by USFDA for manufacturing of Loratadine.
15. Refernce :- http://www.morepen.com/pdf/Press_Release_dt._10.11.2017.pdf