Morepen Labs shares surge on drugmaker bagging ₹825 cr. deal

Morepen Laboratories shares surged more than 15% on Monday after the drugmaker said it has secured a multi-year contract development and manufacturing organisation (CDMO) mandate valued around ₹825 crore ($91 million) from a leading global pharma major.

Supplies, under the mandate, are expected to commence within next 4–5 months, with execution scheduled through Q1 of the following financial year, subject to customary operational and regulatory processes. The shares closed ₹45.37 each on the BSE.

“We view CDMO as a natural extension of our established API strengths, creating additional avenues of scale, stability and long-term value creation while continuing to reinforce our core businesses.” CMD Sushil Suri said.

The company said it continues to evaluate capacity enhancement and technology investments aligned with its expanding CDMO opportunity pipeline in the backdrop of global pharmaceutical companies increasingly consolidating supplier networks.