Morepen Laboratories surged 8.90% to Rs 46.61 after the company launched Empamore, an affordable treatment for type 2 diabetes, heart failure, and chronic kidney disease in India.
The launch is significant, given India's large diabetic population. Empamore, containing the globally recognized SGLT2 inhibitor "Empagliflozin", offers a cost-effective alternative to leading brands. The product range of Empamore includes Empagliflozin in various dosages, addressing the growing diabetes market in India.Morepen manufactures Empagliflozin (API) in its USFDA-approved facilities and already has European Drug Master File (DMF). The market price of Empagliflozin tablets has historically been high, making it inaccessible for many. With Morepens launch of Empamore at a fraction of the cost, the company aims to capture a significant share of the rapidly growing diabetes market in India.
Morepen Laboratories operates within the pharmaceutical and healthcare industry. The company has operations in APIs, medical devices, and finished formulations. Morepen exports six key API products, including Loratadine, Montelukast, Desloratadine, Atorvastatin, and Fexofenadine. In the medical devices segment, Morepen has a presence in Point of Care (POC) diagnostics, with installations of over 12.33 million glucometers and sales of nearly 1.65 billion blood glucose strips, contributing to expansion in tier-2 and tier-3 cities.
The company's consolidated net profit fell 16.6% to Rs 26.69 while revenue from operations rose 1.9% to Rs 452.78 crore in Q3 December 2024 over Q3 December 2023.
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