Shares of Morepen Laboratories Ltd surged 4.81% to ₹44.90 on March 18, following the launch of Empamore, a new drug aimed at treating Type 2 diabetes, heart failure, and chronic kidney disease. The pharmaceutical company announced that Empamore contains Empagliflozin and is available in 10mg and 25mg doses, along with combination variants containing metformin (500mg/1000mg). The drug is manufactured at Morepen’s USFDA-approved facilities and holds a European Drug Master File (DMF), ensuring high-quality global standards.
The launch comes at a crucial time when prediabetes cases in India have risen to nearly 136 million, and the diabetes market is expected to grow at a compounded annual growth rate (CAGR) of 10.9%. Empamore is priced 90% lower than existing brands, making it a highly affordable treatment option. Ashutosh Sharma, Vice President of Sales & Marketing at Morepen Laboratories, emphasized that the new offering will help millions of patients manage their condition without financial burden.
On the stock market, Morepen Laboratories saw strong movement following the announcement. The stock hit an intraday high of ₹45.11, with a 52-week range between ₹40.20 and ₹100.90. The company’s market capitalization stands at ₹24.76 billion, with a P/E ratio of 18.78 and an average trading volume of 3.58 million. Investors reacted positively to the development, with market experts citing the company’s efforts to strengthen its product portfolio in a high-growth sector as a key factor behind the stock’s rally.
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