Pharma Giant Morepen Labs Sets Sights on ₹10 Billion Milestone with Massive Hiring Drive

Morepen Laboratories Limited has announced a growth plan of an aggressive nature with the goal of taking its finished dosages business to ₹10 billion in five years. In line with this vision, the company will onboard 1,000 new medical representatives (MRs) to enhance its sales force and further its market penetration in India and overseas markets.

 

Key Highlights

 

Recruitment Spree: Morepen Laboratories is hiring 1,000 medical representatives, vastly increasing its ground presence. The decision is likely to increase the company's reach among healthcare providers and drive sales of its drugs.

 

₹10 Billion Revenue Target: The company has established a challenging target of reaching ₹10 billion in revenue from its finished dosages business by FY2030. This expansion will be fueled by strategic investments in R&D, product innovation, and market growth.

 

Focus on Finished Dosages: The finished dosages category, encompassing tablets, capsules, and injectables, will be the driving force behind Morepen's growth strategy. Morepen plans to utilize its robust manufacturing capabilities and regulatory clearances to gain a bigger market share.

 

Global Expansion: Morepen, with a strong export network covering more than 80 countries, is looking to further penetrate regulated markets such as the US and Europe while reinforcing its presence in emerging markets.

 

Leadership Vision: Sushil Suri, Chairman & MD of Morepen Laboratories, stated that all these efforts were aligned with the company's long-term vision to become a global pharmaceutical and healthcare solution leader.

 

This strategy roadmap reflects Morepen Laboratories' dedication to innovation, expansion, and providing world-class healthcare solutions worldwide.

 

Source: Business Standard, MoneyControl, Economic Times