Morepen Labs jumps 5% on US finished-dosage entry
In short
Morepen Labs shares rose 5% after the company entered the US finished-dosage medicines and distribution market. CNBC TV18 said Morepen has supplied Desloratadine API to the US for several years.
The move matters because it expands the company’s US business beyond API supply and helped end an eight-day losing streak for the stock.
What the reporting says
Morepen Labs shares jumped 5% as the company moved into finished-dosage medicines and distribution in the US market. CNBC TV18 said Morepen has supplied Desloratadine active pharmaceutical ingredient to the US for several years, and the latest launch expands its presence beyond APIs.
Why it matters
Morepen Labs shares gained after a publisher-supplied market brief said the company has entered finished-dosage medicines and distribution in the US. The same brief said Morepen has long supplied Desloratadine API to the US market, indicating a broader step in its American business. The stock also ended an eight-day losing streak.