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Morepen Laboratories Ltd. Company History and Annual Growth Details

1984

- Morepen Laboratories Limite Limited Company on December 1st, and
subsequently converted into a Public Limited Company on March 16, 1992.
The Company manufacture CIMC chloride, 7-ADCA acid cephalexin
Monohydrate, formulation etc. The bulk drug manufacturing unit
manufacture life saving drugs such as Ampicillia trihydrate &
cloxacillin sodium.

- The company undertook to set up a project for manufacture of
cephalein monohydrate (CPH), CIMC chloride and 7-ADCA with capacities,
72 tpa, 54 tpa and 54 tpa respectively and cephalexin monohydrate.

1993

- The company adapted the M/s. Techquin Elabeissment, Switzerland &
Technology for launching Laratadine and cisapride. Formulations
division was set up.

- The Company undertook to establish facilities for herbal research and
development at Gurgaon with financial assistance from ICICI under its
technology support services programme.

- 18,00,000 shares issued, subscribed & paid up. 34,00,000 No. of
equity shares of Rs 10 each were issued at a prem. of Rs 15 per share
in November 1992 of which the following were reserved for allotment on
a preferential basis: (1) 1,40,000 shares to employees (24,900 shares
taken up); (2) 6,00,000 shares to UTI (all were taken up); (3) 6,00,000
shares to LIC (all were taken up); (4) 1,00,000 shares to TDICI (all
were taken up). Balance 14,60,000 shares along with 1,15,100 shares
not taken up by employees issued to the public.

1995

- The Company launched high value high technology products namely
Cisapride and Loratadine.

- 26,00,000 shares allotted on conversion of `O' interest debentures.

1996

- 78,00,000 shares allotted on Rights basis (prop. 1:1; Prem. Rs 90).

1997

- The Delhi-based Morepen Laboratories is close to entering into a
tie-up with the US-based $870 million Stryker Corporation for marketing
the US company's medical equipment in the country.

- The company will launch its OTC healthcare product range in January.
It will introduce garlic-based tablets, ginger-based tablets, antacids,
sweeteners and memory tonics, etc.

1998

- Meanwhile, many of the major European generic companies have signed
agreements with Morepen to import bulk drugs. During the year, the
company has further expanded its marketing network for exports which
would help the company to further expand its sales by tapping new
markets.

- The company also earned the distinction of introducing for the first
time in India two new molecules - Loratadine and Cisapride - in bulk
and formulation forms owing to its in house R&D facilities.

- During the year the company made its entry into the US market
following the filing of drug master file of loratadine with USFDA which
was acknowledge and assigned a DMF number.

1999

- MOREPEN Laboratories Ltd has signed an agreement with PARI GmbH of
Germany for marketing its inhalation systems for respiratory diseases
in the country. The company has thus become the youngest Indian
company to obtain this approval from USFDA authorities.

- The company currently has a installed capacity of 6 tonnes per annum,
and in the years to come, around 50 per cent of the company's turnover
is expected to be contributed by this product.

- The company's manufacturing facilities for Loratadine at Parwanoo in
Himachal Pradesh was recently awarded the United States Food and Drug
Authority (USFDA) approval, which would enable it to explore new
markets.

- Loratadine, manufactured by the company at its bulk drug plant at
Parwanoo (Himachal Pradesh), is the fifth largest selling drug in the
world with over 50 per cent market share among all anti-hystamines.

- The consumer care division of the company has launched DAB, an
antacid with fruit flavours. The other products in the pipeline are
Sugar Care (a low calorie sweetener), Garlitone, (Garlic tablets),
Mintina-Peppermint tablets and Slimwell (weight reducing agent).

- It has set up a most modern state-of-the-art plant at Baddi in
Himachal Pradesh as per the US FDA guidelines and international
standards.

- Dab, an ayurvedic antacid granule in sachet packaging -- was
introduced in the market recently. Morepen is now also planning to
introduce the same in bottles.

- In the consumer-care product category, the company is all set to
introduce vitamin products for pregnant women. Zimvit-P to be launched
in next four months would be for providing the necessary vitamin
support to the `would-be mothers' and Zimvit-L for supporting the
post-pregnancy vitamin requirements of the young mothers.

- The company is entering into the segment of generic manufacturing and
has identified at least 20 non-patent high-volume generic products and
the process could begin within the next few months.

- Amongst new bulk drugs to be launched by the company in the near
future are `Atorvastatin' and `Fluvastatin' (both cholesterol
reducers), `Paroxetin' (anti-depressant), `Losartan'
(anti-hypertensive), `Zafirlukast' and `Montelukast' (both
anti-asthmatic).

- The new products lined up in the OTC segment include hospital foods,
health water, Cold-N-Fever tablets, Vitamin-C tablets and three
variants of DAB (a fruit-flavoured antacid).

- The company is also planning to launch `Sugar care' (a low calorie
sweetener), Garlitone (garlic tablets), Mintina (peppermint tablets)
and slimwell (weight reducing agents). These products will be launched
within a year's time.

2000

- The company has informed that on February 8th, it would allott
25,00,000 equity shares of Rs. 10 each at a premium of Rs. 640 per
share aggregating Rs. 1,625,000,000 on preferential allotment basis to
FI/FIIs/MFs/OCBs and others in accordance with the SEBI Guidelines.

- The Company has decided to split the equity shares of Rs.10 each into
5 shares of Rs.2 each and also formed a compensation committee to draft
a scheme for offering equity shares to employees under ESOS.

- The Company is in the process of entering into a joint venture
agreement with a US-based company for carrying out research and
development (R&D) in the area of medicinal biotechnology..

- The Delhi-based Morepen Laboratories has tied up with five leading
generic companies -- Apotex, Novex Pharma, Genpharm, Novopharm and
Technilab -- in Canada, among others, for supplying its non-sedative
anti-histamine, loratadine.

- Shri. K. B. Suri, Chairman cum Managing Director expired on 28th
October, and Shri Sushil Suri Director has been appointed as Chairman
cum Managing Director.

2001

- The $2000-million, DiaMed AG has formed a technology-cum-marketing
joint venture with the Delhi-based, Morepen Laboratories.

- Morepan Labs has launched Optimal Rapid Malaria Test Kit -- a product
from DiaMed AG, leading in blood group serology.

- The Company has reissued 17000 No of equity shares of Rs. 2/- each
from the for feiture Account to its Employees.

-The Company has entered into a strategic manufacturing joint venture
with the US-based Ameritek Inc, a global player in rapid diagnostic
test kits.

-Morepen Labs has entered into a marketing alliance with Beurer GmbH &
Co to sell a range of diagnostic and therapeutic monitoring systems to
monitor health at home.

2002

-Apollo Hospitals Group and Morepen laboratories Ltd enters into a joint venture for the crisis of the emergency services.

-Decides not to buy Coldact, the cold and cough pill from Sun Pharmaceuticals.

-Launches 'Dab' a new product in the gastro category.

-Invests Rs.100cr as part of its plan to achieve sales of Rs.200cr in five years.

-Creates four SBU's via global generics, medicus,diagnostics and fast moving health goods.

-Appoints Mr Vasanth Sivaraman as its Vice-president, corporate finance for its Mumbai Office.

-Acquires Lifespring, a chain of health and beauty stores at a consideration of Rs.120 million from Total Care Pvt Ltd.

-Acquires Lemolate, a premium brand of Yash Pharma Laboratories Ltd in the cough and cold category.

-Hikes its expenditure from more than Rs.30cr for its R & D initiatives.

-Increases its production capacity by two times for loratidine to around 24 tonne in anticipation of the expected demand from US market.

-Appoints Mr Sanjay Suri as the Director on the Board of the company.

-Signs Marketing Joint Venture with Italian Diagnostic company, A Menarini, to market the latter's glucometer range under the company's umbrella in India.

-Members of USFDA approves Loratadine as the Over-the counter Allergy Drug.

-Invests Rs.12 cr in Lifespring.

-Mr Karthik Raina quits the Morepen Laboratories.

2003

-Ties up with Analyticon to market urine analysis reagent strips.

-Gets 180-day marketing rights for the drug in the US market.

-Files an international patent under the Patent Cooperation Treaty for manufacturing process of Desloratadine

-Mr Sanjay Suri and Ms Kanta Suri resign from their directorship of the company.

-BOD of the company approve for the GDR issue.

-Signs an agreement of collaborative research program with National Institute of Pharmaceutical Education and Research.

-Receives clearance from Luxembourg Stock Exchange in respect of company's GDR offering.

-Allots 5,000,000 GDR's representing 50,000,000equtiy shares of Rs.2 each at a price of USD 3.05 per GDR.

-Debt Recovery Tribunal puts hold on the proceedings of the lab's $15.25 million GDR issue.

-Extends the financial year by 6 months because of declining sales scenario and difficult debt restructuring phase.

-Applies for the international process and product patents for the drug Fluvastatin Sodium.

-CL B approves Fixed deposits repayment plan of the company.

-Accomplishes the export order of Loratadine for an amount of $15 million.

-Bags 15 year supply contract cum licensing agreement from Generix.

-Receives US Food and Drug Administrator approval for active pharmaceutical ingredient (API) manufacturing facilities at Masulkhana, Himachal Pradesh.

2004

- Morepen Labs gets approval for international patent of a new crystalline form (VI) of Atorvastatin, a cholesterol-lowering drug.

-The Company received a fresh US Food and Drug Administrator approval for its active pharmaceutical ingredient (API) manufacturing facilities at Masulkhana, Himachal Pradesh.

-The company has entered the anti-diabetics market of US with its insulin sensitizer-Pioglitazone Hydrochloride (Actos).

-Morepen Labs bags international patent for cholesterol drug.

2005

-Morepen Laboratories second to join the Lipitor Club in USA.

-Morepen Laboratories announces 52 DMF filings for 6 products in EU.

-Morepen registers 52 DMF across 10 European countries.

-The Company announced an increase in its holding in Doctors Morepen Ltd (DML), which was earlier, hived off as an Independent Company.

2006

-Re-appointment of Mr Manoj Joshi & Mr B R Wadhwa as Directors of the Company.

2007

-Morepen Lab signs deal with Avenue Capital Group.

2011
-"Morepen gets USFDA approval for Desloratadine".

2013

-Mr. Thomas P. Joshua has joined as the Companys Company Secretary and He would also be the new Compliance Officer of the Company.

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