September 5, 2024: Morepen Laboratories Ltd. has marked a momentous achievement as its market capitalization exceeds Rs. 5000 crore. This impressive milestone highlights the company’s strong business fundamentals, strategic growth initiatives, and stellar performance, especially in the medical device segment, which has been a significant contributor to this success.
Since March 2000, when the market cap was Rs. 216 crore, Morepen’s valuation has surged 23-fold to Rs. 5019 crore as of September 4, 2024. Over the past three months alone, from June 4 to September 4, 2024, Morepen’s share price has soared approximately 110.5%. Their share price touched INR 93.88 highest in two decades. This rapid ascent has been driven by the recent Qualified Institutional Placement (QIP), which drew substantial interest from leading global institutions.
Mr. Sushil Suri, Chairman and Managing Director of Morepen Laboratories, said that "Our journey is built on a steadfast commitment to delivering quality products and nurturing lasting relationships with our customers. This milestone, coupled with the success of our QIP, is a testament to our team's dedication and the strong confidence in our future growth. As we look ahead, we remain focused on generating value for all stakeholders. We are grateful for the trust placed in us and are excited about the future, committed to innovation, expansion and maintaining Morepen’s reputation as a trusted leader in healthcare sector.”
Morepen’s strong fundamentals are supported by highly valuable intellectual property and an impressive product pipeline, encompassing both medical devices and APIs. The company’s leadership in medical devices and select APIs has been pivotal to its ongoing success.
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