Morepen Laboratories Share price

Morepen Laboratories Limited (MLL) was incorporated as a Private Limited Company on December 1 1984 and subsequently converted into a Public Limited Company on March 16 1992. MLL initially setup a bulk drug unit for the manufacture of 6 T.P.A. of Ampicillin Trihydrate (ATH) at a total project cost of Rs. 14.70 lacs. The manufacturing unit was set up at Village : Masulkhana Parwanoo District : Solan in the state of Himachal Pradesh. Thereafter the Company has successfully undertaken a number of expansions and backward/forward integration projects.In November 1992 the Company made the maiden public issue of 2900000 equity shares of Rs. 10/- each for cash at a premium of Rs. 15/- per share to part finance an expansion cum backward integration project. The expansion was completed in October 1993.The Company undertook another expansion cum modernisation scheme in April 1994 for setting up facilities for manufacture of Loratadine (anti-allergic) and Cisapride (gastrointestinal disorders) in technical collaboration with Techquim Establishment Switzerland; modernisation/ expansion of existing antibiotics plant engaged in the manufacture of Ampicillin Trihydrate (ATH) Amoxycillin Trihydrate (AMX) Cloxacillin Sodium (CLX) and drug intermediate 6 Amino Pencillanic Acid (6APA) and for manufacture of new molecules namely Ketorolac (analgesic) and Omeprozole (anti-ulcer). The Project was completed in October 1994 as per the schedule of implementation mentioned in the Letter of Offer dated 7th February 1994.The technical collaboration agreement with Techquim Etablissement Switzerland was for sale of process know-how and production expertise for manufacture of Cisapride and Loratadine. The process know-how for manufacture of Cisapride and Loratadine has been fully absorbed and adopted by the Company.In August 1995 the Company undertook another expansion project for increasing its existing manufacturing facilities of bulk drugs.Present BusinessThe Company mainly manufactures bulk drugs which include Ampicillin Trihydrate (ATH) Amoxycillin Trihydrate (AMX) Cloxacillin Sodium (CLX) and 6 Amino Pencillanic Acid (6APA]. ATH AMX and CLX are semi synthetic pencillins used as Antibiotics. 6APA is a penicillin based intermediate used in the manufacture of Antibiotics. The bulk drugs are sold in both domestic as well as international markets.As a part of its forward integration plans the Company has entered the formulation industry. Generic formulations have been launched presently covering a range of 17 products like Ampicillin Trihydrate Amoxycillin Trihydrate Cephalexin Cipro Chloram Cotri Doxycycline Erythromycin Griseofulvin Ibuprofen Ibuprofen + Paracetamol Metronidazole Norfloxacin Omeprazole Ranitidine Rifampicin and Paracetamol. The ethical formulations have also been launched with a balanced product portfolio of 11 formulations of established molecules like Gastropen (for Gastro-oesophageal reflux disorders and Gastric Statis) Lanzopen (anti-ulcer) Claridin (anti-histamine) Loxipen (anti-bacterial) Studidom (for nausea & vomitting associated with vertigo) DOM-DT (Dispersible Domperidone for nausea & vomitting) Mormox (anti-biotic). Resporal (for respiratory tract infections) Normide (anti-bacterial & anti-protozoal) Imopen (for diarrhoea) and Eradiclox (anti-biotic).The Company''s present installed capacity for various products is as follows : (in mtpa)Drug Intermediate6 Amino Pencillanic Acid (6APA) 288Bulk DrugsAmpicillin Trihydrate (ATH) 180Amoxycillin Trihydrate (AMX) 240Cloxacillin Sodium (CLX) 60Ketorolac Omeprozole Loratadine and Cisapride 12Subsidiary CompanyAt present the Company does not have any subsidiary.