Morepen Labs Secures ₹825 Crore Global CDMO Deal
Morepen Laboratories has secured an international CDMO contract worth approximately ₹825 crore (USD 91 million) from a leading global pharma major. The contract involves development and manufacturing services, with supplies expected to begin in 4-5 months and execution over 12-15 months. This marks an expansion into the CDMO segment.
A contract of ₹825 crore is a material development for Morepen Laboratories, significantly impacting its revenue and market position, especially with its entry into the CDMO segment.
The announcement of a large international contract signifies a positive development for the company, indicating business growth and expansion into a new segment.
Morepen Laboratories Limited has announced the bagging of a significant international commercial supply contract under a Contract Development and Manufacturing Organization (CDMO) arrangement. The order, valued at approximately ₹825 crore (USD 91 million), has been awarded by a leading global pharma major.
Under the terms of this CDMO arrangement, Morepen Laboratories will provide development and/or manufacturing services. Supplies are anticipated to commence within the next 4 to 5 months, with the execution of the contract scheduled to take place through the first quarter of the following fiscal year. The entire order is expected to be executed within a period of approximately 12 to 15 months from the date of the award, contingent upon customary operational and regulatory approvals.
This contract represents a strategic expansion for Morepen into the high-growth CDMO segment and involves an international entity. The company has confirmed that neither the promoter, promoter group, nor any group companies have any interest in the entity that awarded this order, and it does not fall under related party transactions.
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Morepen Laboratories Limited filed this with the NSE as a statutory disclosure, categorised under new orders. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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