India's Morepen Labs jumps on new drug launches

Morepen Laboratories

24/04/2025 09:56

** Shares of Morepen Laboratories MORL.NS jump as much as 17% to 64 rupees, their highest level since February 6

** Pharma co announces launch of four new products - Ticapen, UdoFix, LycoMore and Acifix used for cardiovascular health, liver health, nutrition and heartburn, respectively

** MORL targets to grow formulation business to 10 billion rupees ($117.2 million) in five years from 3.25 billion rupees currently

   ** More than 30 mln shares traded, trading vols at 5x their 30-day avg

** Stock is down 20% so far in 2025

($1 = 85.3280 Indian rupees)

 (Reporitng by Nishit Navin)

 ((nishit.navin@thomsonreuters.com;))