Chennai: Morepen Laboratories Ltd has announced a net profit of Rs 23.8 crore in the third quarter ended on 31 December, which was 120 per cent more than that in the corresponding quarter in the previous financial year.
The net revenues of the company in Q3 were Rs 310.26 crore, 32 per cent more than Rs 234.66 crore reported in the same quarter in 2019-20.
The firm said it is eyeing an a multi-billion dollar global API (Active Pharmaceutical Ingredients) market with the addition of new molecules in its bulk drugs portfolio.
The focus areas of these new molecules include chronic and lifestyle diseases like anti-diabetic, anti-hypertensive, cholesterol reducers and neuro-psychiatric.
Global patent expiry for these new molecules is slated in the next 5-6 years, the company said.