History of Morepen Laboratories Ltd.
1984
- Morepen Laboratories Limite Limited Comp. on December 1st, and subsequently converted into a Public Limited Comp. on March 16, 1992. The Comp. manufacture CIMC chloride, 7-ADCA acid cephalexin Monohydrate, formulation etc. The bulk drug manufacturing unit manufacture life saving drugs such as Ampicillia trihydrate & cloxacillin sodium.
- The Comp. undertook to set up a project for manufacture of cephalein monohydrate [CPHs], CIMC chloride & 7-ADCA with capacities, 72 tpa, 54 tpa & 54 tpa respectively & cephalexin monohydrate.
1993
- The Comp. adapted the M/s. Techquin Elabeissment, Switzerland & Technology for launching Laratadine & cisapride. Formulations division was set up.
- The Comp. undertook to establish facilities for herbal research and development at Gurgaon with financial assistance from ICICI under its technology support services programme.
- 18,00,000 shares issued, subscribed and paid up. 34,00,000 No. of equity shares of Rs 10 each were issued at a prem. of Rs 15 per share in November 1992 of which the following were reserved for allotment on a preferential basis: [1s] 1,40,000 shares to employees [24,900 shares taken ups]; [2s] 6,00,000 shares to UTI [all were taken ups]; [3s] 6,00,000 shares to LIC [all were taken ups]; [4s] 1,00,000 shares to TDICI [all were taken ups]. Balance 14,60,000 shares along with 1,15,100 shares not taken up by employees issued to the public.
1995
- The Comp. launched high value high technology products namely Cisapride & Loratadine.
- 26,00,000 shares allotted on conversion of `O' interest debentures.
1996
- 78,00,000 shares allotted on Rights basis [prop. 1:1; Prem. Rs 90s].
1997
- The Delhi-based Morepen Laboratories is close to entering into a tie-up with the US-based $870 million Stryker Corporation for marketing the US company medical equipment in the country.
- The Comp. will launch its OTC healthcare product range in January. It will introduce garlic-based tablets, ginger-based tablets, antacids, sweeteners & memory tonics, etc.
1998
- Meanwhile, many of major European generic companies have signed agreements with Morepen to import bulk drugs. During the year, the company has further expanded its marketing network for exports which would help the Comp. to further expand its sales by tapping new markets.
- The Comp. also earned the distinction of introducing for first time in India two new molecules - Loratadine & Cisapride - in bulk and formulation forms owing to its in house R&D facilities.
- During the year the Comp. made its entry into the US market following the filing of drug master file of loratadine with USFDA which was acknowledge & assigned a DMF number.
1999
- MOREPEN Laboratories Ltd has signed an agreement with PARI GmbH of Germany for marketing its inhalation systems for respiratory diseases in the country. The Comp. has thus become the youngest Indian company to obtain this approval from USFDA authorities.
- The Comp. currently has a installed capacity of 6 tonnes per annum, and in the years to come, around 50 per cent of company turnover is expected to be contributed by this product.
- The company manufacturing facilities for Loratadine at Parwanoo in Himachal Pradesh was recently awarded the United States Food & Drug Authority [USFDAs] approval, which would enable it to explore new markets.
- Loratadine, manufactured by Comp. at its bulk drug plant at Parwanoo [Himachal Pradeshs], is the fifth largest selling drug in the world with over 50 per cent market share among all anti-hystamines.
- The consumer care division of Comp. has launched DAB, an antacid with fruit flavours. The other products in the pipeline are Sugar Care [a low calorie sweeteners], Garlitone, [Garlic tabletss], Mintina-Peppermint tablets & Slimwell [weight reducing agents].
- It has set up a most modern state-of-the-art plant at Baddi in Himachal Pradesh as per the US FDA guidelines & international standards.
- Dab, an ayurvedic antacid granule in sachet packaging -- was introduced in the market recently. Morepen is now also planning to introduce the same in bottles.
- In the consumer-care product category, the Comp. is all set to introduce vitamin products for pregnant women. Zimvit-P to be launched in next four months would be for providing the necessary vitamin support to the `would-be mothers' & Zimvit-L for supporting the post-pregnancy vitamin requirements of young mothers.
- The Comp. is entering into the segment of generic manufacturing and has identified at least 20 non-patent high-volume generic products and the process could begin within the next few months.
- Amongst new bulk drugs to be launched by Comp. in the near future are `Atorvastatin' & `Fluvastatin' [both cholesterol reducerss], `Paroxetin' [anti-depressants], `Losartan' [anti-hypertensives], `Zafirlukast' & `Montelukast' [both anti-asthmatics].
- The new products lined up in the OTC segment include hospital foods, health water, Cold-N-Fever tablets, Vitamin-C tablets & three variants of DAB [a fruit-flavoured antacids].
- The Comp. is also planning to launch `Sugar care' [a low calorie sweeteners], Garlitone [garlic tabletss], Mintina [peppermint tabletss] and slimwell [weight reducing agentss]. These products will be launched within a year time.
2000
- The Comp. has informed that on February 8th, it would allott 25,00,000 equity shares of Rs. 10 each at a premium of Rs. 640 per share aggregating Rs. 1,625,000,000 on preferential allotment basis to FI/FIIs/MFs/OCBs & others in accordance with the SEBI Guidelines.
- The Comp. has decided to split the equity shares of Rs.10 each into 5 shares of Rs.2 each & also formed a compensation committee to draft a scheme for offering equity shares to employees under ESOS.
- The Comp. is in the process of entering into a joint venture agreement with a US-based Comp. for carrying out research and development [R&Ds] in the area of medicinal biotechnology..
- The Delhi-based Morepen Laboratories has tied up with five leading generic companies -- Apotex, Novex Pharma, Genpharm, Novopharm and Technilab -- in Canada, among others, for supplying its non-sedative anti-histamine, loratadine.
- Shri. K. B. Suri, Chairman cum Managing Director expired on 28th October, & Shri Sushil Suri Director has been appointed as Chairman cum Managing Director.
2001
- The $2000-million, DiaMed AG has formed a technology-cum-marketing joint venture with the Delhi-based, Morepen Laboratories.
- Morepan Labs has launched Optimal Rapid Malaria Test Kit -- a product from DiaMed AG, leading in blood group serology.
- The Comp. has reissued 17000 No of equity shares of Rs. 2/- each from the for feiture Account to its Employees. -The Comp. has entered into a strategic manufacturing joint venture with the US-based Ameritek Inc, a global player in rapid diagnostic test kits.
-Morepen Labs has entered into a marketing alliance with Beurer GmbH & Co to sell a range of diagnostic & therapeutic monitoring systems to monitor health at home.
2002
-Apollo Hospitals Group & Morepen laboratories Ltd enters into a joint venture for crisis of emergency services.
-Decides not to buy Coldact, the cold & cough pill from Sun Pharmaceuticals.
-Launches 'Dab' a new product in the gastro category.
-Invests Rs.100cr as part of its plan to achieve sales of Rs.200cr in five years.
-Creates four SBU via global generics, medicus,diagnostics & fast moving health goods.
-Appoints Mr Vasanth Sivaraman as its Vice-president, corporate finance for its Mumbai Office.
-Acquires Lifespring, a chain of health & beauty stores at a consideration of Rs.120 million from Total Care Pvt Ltd.
-Acquires Lemolate, a premium brand of Yash Pharma Laboratories Ltd in the cough & cold category.
-Hikes its expenditure from more than Rs.30cr for its R and D initiatives.
-Increases its production capacity by two times for loratidine to around 24 tonne in anticipation of expected demand from US market.
-Appoints Mr Sanjay Suri as the Director on the Board of company.
-Signs Marketing Joint Venture with Italian Diagnostic company, A Menarini, to market the latter glucometer range under the company umbrella in India.
-Members of USFDA approves Loratadine as the Over-the counter Allergy Drug.
-Invests Rs.12 cr in Lifespring.
-Mr Karthik Raina quits the Morepen Laboratories.
2003
-Ties up with Analyticon to market urine analysis reagent strips.
-Gets 180-day marketing rights for drug in the US market.
-Files an international patent under the Patent Cooperation Treaty for manufacturing process of Desloratadine
-Mr Sanjay Suri & Ms Kanta Suri resign from their directorship of company.
-BOD of Comp. approve for GDR issue.
-Signs an agreement of collaborative research program with National Institute of Pharmaceutical Education & Research.
-Receives clearance from Luxembourg Stock Exchange in respect of company GDR offering.
-Allots 5,000,000 GDR representing 50,000,000equtiy shares of Rs.2 each at a price of USD 3.05 per GDR.
-Debt Recovery Tribunal puts hold on the proceedings of lab $15.25 million GDR issue.
-Extends the financial year by 6 months because of declining sales scenario & difficult debt restructuring phase.
-Applies for international process & product patents for drug Fluvastatin Sodium.
-CL B approves Fixed deposits repayment plan of company.
-Accomplishes the export order of Loratadine for an amount of $15 million.
-Bags 15 year supply contract cum licensing agreement from Generix.
-Receives US Food & Drug Administrator approval for active pharmaceutical ingredient [APIs] manufacturing facilities at Masulkhana, Himachal Pradesh.
2004
- Morepen Labs gets approval for international patent of new crystalline form [VIs] of Atorvastatin, a cholesterol-lowering drug
