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Home Morepen Laboratories Scores No. 1 Position Globally for its Bulk Drug Montelukast

Morepen Laboratories Scores No. 1 Position Globally for its Bulk


Drug Montelukast
Posted on: 11 May
2016

By: Gayatri Mahajan

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Morepen Laboratories Ltd. has established a leadership position for its anti-asthmatic bulk drug Montelukast in the global market. As per the
latest report published by a global research rm - QYR Research, Morepen is the No.1 supplier globally in terms of total quantity sold, followed
by Mylan and TAPI (Teva) who appear on the second and third position respectively.
Morepens global sales for Montelukast Sodium stood at 16240 kgs in the calender year 2015, resulting in a market share of 23 per cent
(approx.) compared to Mylans and Tevas 12 per cent each, the report claims.
This was disclosed by Mr. Sushil Suri, Chairman and Managing Director, Morepen Laboratories Ltd. after the companys board meeting, which
discussed and took on record the fourth quarter and annual results of the company for the nancial year 2015-16. After attaining leadership in
Loratadine, by being worlds largest generic supplier of the bulk drug, Morepen Laboratories Ltd. has attained a leadership in its second
molecule -Montelukast, he pointed out.
Morepen Laboratories Ltd. has reported an over 25-fold increase in its net prot for the nancial year ended March 31, 2016. The net prot
increased from Rs. 58 lakhs in FY 2014 -15 to Rs. 15.78 crore in FY 2015-16. The total operating revenue in FY 2015-16 stood at Rs. 452.46
crore as against Rs. 370.26 crore in the previous fiscal, registering a growth of 22.20 per cent.
For the fourth quarter ended March 31, 2016, net prot rose to Rs. 2.77 crore on a total operating revenue of Rs. 123.59 crore as compared to a
loss of Rs. 3.72 crore on a total operating revenue of Rs. 85.36 crore in the corresponding quarter of the previous fiscal.
Morepens EBIDTA increased by 36.30 per cent in scal 2015-16 at Rs. 65.38 crore and the cash surplus (i.e. EBDTA) rose by 40 per cent at Rs.
54.96 crore compared to Rs. 47.95 crore and Rs. 39.31 crore respectively, in the previous fiscal.
Enhanced focus on cost reduction and adoption of innovative processes resulted in this remarkable turnaround, putting the company back on
the profit trajectory, Mr. Suri said.
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Q4 marked excellent performance in all business segments particularly bulk drugs (API) which has grown by more than 50%, while Home
Diagnostics and Finished Dosages segments also outperformed and registered a
remarkable growth of 35% and 40% respectively adding to the outstanding quarterly
performance.
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Total revenues from the bulk drug Montelukast in Q4 grew by more than 90% at Rs.
25.71 crore. Thus, Montelukast registered the highest growth amongst bulk drugs
followed by Loratadine and Atorvastatin, which grew by 20% and 37% respectively,
over Q4 last year. In the FY 2015-16, total revenue from Montelukast crossed Rs. 74
crores and is likely to cross Rs. 100 crore mark in fiscal 2016-17.
Exports: With strategic international positioning, the companys export turnover has
crossed Rs. 200 crores in FY 2015-16, registering a growth of 32 per cent. The exports
turnover is expected to grow by 25% Year-on-Year and is likely to cross Rs. 250 crore
in fiscal 2016-17.
In the home health category, Morepens Diagnostics division grew by 23% Year-onyear. The company cemented its leadership in Blood Glucose Monitors market by
registering 41% growth in scal 2015-16 with a top line of Rs.33.38 crores. It sold
more than 30 million test strips in scal 2015-16. Looking at increasing incidence of
diabetic cases in India, this segment oers great opportunity for growth in the coming
years.

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