Morepen Laboratories gets license to manufacture HCQ in Baddi plant; stock up 10%

The company has launched a wide range of essential products being required to combat the growing menace of COVID’19 and to prevent further spread of this disease in the country.

Apr 21, 2020 09:04 IST India Infoline News Service

Morepen Laboratories
Morepen Laboratories on Monday has received a license to manufacture Hydroxychloroquine (HCQ) from State Drug Controller, (HP) last week for its Baddi plant in Himachal Pradesh and is working to commercialize the production of HCQ in both API as well as tablets form.

The stock is currently trading at Rs16.07, up by Rs1.46 or 9.99% from its previous closing of Rs14.61 on the BSE.

HCQ is a prescription based drug commonly being recommended to Corona patients under treatment for the disease. India is taking a lead in supplying HCQ to the rest of the world including the USA.

India is the largest producer of HCQ and will continue to retain its leadership position in this time of crisis.

Sushil Suri, Chairman and Managing Director, Morepen Laboratories Ltd., said, “the Contagion is spreading fast in every nook and corner of our country. As a result, we are working round the clock to maintain regular supply of all essential items and medical supplies required in the process even during these difficult times. We stand firmly with the Govt. of India and customers with all the vigor and commitment to help fight COVID-19.”

The pharma company is all set to be a frontrunner in India’s fight against Novel Corona Virus Disease (popularly referred to as COVID’19). The company has launched a wide range of essential products being required to combat the growing menace of COVID’19 and to prevent further spread of this disease in the country. These include non-contact Infrared Thermometers, alcohol-based Hand Sanitizers, Hand Wash, Hand Rubs and Face Masks, all under its umbrella brand — Dr. Morepen.

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