Morepen Labs shares surge 8% on license to manufacture Hydroxychloroquine

Share price of Morepen Laboratories surged over 8 percent intraday on April 21 after the company received license to manufacture Hydroxychloroquine (HCQ) from State Drug Controller, (HP) last week for its Baddi plant in Himachal Pradesh.

Morepen Laboratories has launched a wide range of essential products being required to combat the growing menace of COVID-19 and to prevent further spread of this disease in the country. These include non-contact Infrared thermometers, alcohol-based hand sanitizers, hand wash, hand rubs and face masks, the company said in a filing to the exchanges.

The Company has also received license to manufacture Hydroxychloroquine (HCQ) from State Drug Controller, (HP) last week for its Baddi plant in Himachal Pradesh and is working to commercialize the production of HCQ in both API as well as tablets form, it added.

"The contagion is spreading fast in every nook and corner of our country. As a result, we are working round the clock to maintain regular supply of all essential items and medical supplies required in the process even during these difficult times. We stand firmly with the Govt. of India and customers with all the vigor and commitment to help fight COVID-19,” said Sushil Suri, Chairman and Managing Director of Morepen Laboratories.