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Morepen Laboratories, one of the largest manufacturers of anti-asthmatic drug Montelukast Sodium, is likely to start supplying the drug to European and North American markets soon, the company said on Tuesday.
The drug has contributed ₹48 crore to the company’s total income in the first nine months of the current fiscal.
The company estimates that the formulation will contribute ₹70 crore to its top line by the fiscal end.
“The company expects to notch a global turnover of ₹100 crore from this single bulk drug alone in the financial year 2016-17. Subsequently, with increased capacities, global sales from Montelukast are likely to touch ₹250-300 crore in the coming few years,” a company statement said.
The tie-ups are likely to result in inspections of their manufacturing facilities at Parwanoo, Himachal Pradesh, by the US Food and Drug Administrator, Sushil Suri, Chairman and Managing Director, Morepen Laboratories, said.
The company also announced a 146 per cent increase in net profit at ₹7.28 crore for the third quarter ended December 31, 2015. For the same period, Morepen has recorded a total income of ₹112 crore.
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