Pharma Penny Stock Under Rs 60: Company Set For Bold Expansion; To Add 1000 Medical Representatives
The company has a market cap of over Rs 2,750 crore and the stock is up over 20 per cent from its 52-week low of Rs 41.66 per share
Morepen Laboratories Ltd., a prominent Indian pharmaceutical company, has unveiled an ambitious expansion strategy focused on strengthening its connections with over 1,000 doctors, patients, pharmacies, and healthcare professionals nationwide. This strategic initiative will involve the addition of more than 1,000 professionals to its salesforce over the next three years, with an anticipated intake of over 200 team members in FY26 alone. This significant move follows consistently encouraging growth in the formulations segment and underscores Morepen’s commitment to building a stronger domestic footprint, aligning with India’s vision of affordable and accessible healthcare for all.
Currently, Morepen's formulation business stands at approximately Rs 325 crore, and the company is targeting a Rs 1,000 crore finished dosages business within the next five years. This ambitious goal will be supported by an aggressive expansion of its medical representative network and deeper market penetration across both urban and rural regions of India. The company anticipates major growth stemming from new products that are already being produced at highly competitive costs. Furthermore, Morepen highlights its position as India’s number one API exporter for six leading products, including Loratadine, Montelukast, Desloratadine, Atorvastatin, Rosuvastatin, and Fexofenadine.
The Indian pharmaceutical market is projected to reach USD 130 billion in 2030, exhibiting an expected annual growth rate of 8.2 per cent. Morepen believes its strong presence and proven product portfolio position it favourably to capitalize on this substantial opportunity and further solidify its presence within the domestic healthcare ecosystem. Coupled with its robust manufacturing capabilities, this India-centric strategy enables Morepen to better serve the evolving needs of Indian healthcare while continuing its trajectory of double-digit growth, reinforcing investor confidence through consistent financial performance, global quality standards, and a forward-looking approach.
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About the Company
Established in 1984, Morepen Laboratories stands as a prominent entity within the pharmaceutical and healthcare sector, showcasing consistent innovation and market leadership across its diverse portfolio encompassing Active Pharmaceutical Ingredients (APIs), medical devices, and finished formulations. The company holds a global leadership position in the export of six key APIs, namely Loratadine, Montelukast, Desloratadine, Atorvastatin, and Fexofenadine. Furthermore, Morepen has achieved significant progress in the medical devices arena, particularly in Point of Care (POC) diagnostics, evidenced by an extensive installation base exceeding 12.33 million glucometers and the sale of nearly 1.65 billion blood glucose strips, facilitating its expansion into tier-2 and tier-3 cities.
The company has a market cap of over Rs 2,750 crore and the stock is up over 20 per cent from its 52-week low of Rs 41.66 per share. Investors should keep an eye on this pharma penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.