Morepen Labs plans to employ over 1000 professionals
Gurugram: Morepen Laboratories Ltd. has announced the addition of more than 1,000 professionals to its salesforce over the next three years, with over 200 team members expected to join in FY26 alone.
This is part of the Company's expansion plan that aims at deepening its connect with doctors, patients, pharmacies, and healthcare professionals across the country.
"Following consistently encouraging growth in the segment, this move marks a significant step in strengthening Morepen’s formulations business in the market reinforcing its commitment to building a stronger domestic footprint and aligning with India’s vision of affordable, accessible healthcare for all," the Company stated.
"This expansion represents a pivotal moment in Morepen’s journey as we sharpen our focus on the expanding domestic finished dosage market," said Mr. Sushil Suri, Chairman and Managing Director of Morepen Laboratories. "With the leadership in our high value APIs, this significant increase in our salesforce and enhanced reach to doctors, pharmacies, and patents, we are setting the stage for getting a bigger pie in the Indian pharmaceutcal market valued at ₹2.38 lakh crore, yielding higher gross margins and better returns for stakeholders in the long run.”
Currently, Morepen’s formulation business stands at approximately Rs 325 crore, and the company is targeting a Rs 1,000 crore finished dosages business within the next five years.
"This goal will be supported by an aggressive expansion of its medical representative network and deeper market penetration across urban and rural India, with major growth expected from new products that the company is already producing at highly competitive costs," Morepen empasizes.
The Indian pharmaceutical market is projected to reach $130 billion in 2030, with an expected annual growth rate of 8.2%.
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