Morepen surges 18% on USFDA clearance for anti-asthmatic drug Montelukast

The stock surged 18% to Rs 29.60, also its 52-week high on NSE, after the pharmaceutical company announced that the USFDA has cleared anti-asthmatic drug, Montelukast Sodium.

Morepen Laboratories has surged 18% to Rs 29.60, also its 52-week high on the National Stock Exchange (NSE), after the pharmaceutical company announced that the United States Food and Drug Administration (USFDA) has cleared anti-asthmatic drug, Montelukast Sodium.

This gives Morepen an entry into the Rs 2,000 crore (approx. $ 300 million) US market for Montelukast. The first commercial orders for the bulk drug are expected in Q2 of FY2018-19, it added.

Montelukast (Singulair of Merck) is the largest selling anti-asthmatic drug in the world and is a major contributor to Morepen’s API business.

Montelukast’s global market