Morepen Laboratories Limited today announced an increase in its holding in Doctor Morepen Limited (DML), which was earlier, hived off as an independent company. The company has converted its outstanding Preference Capital of Rs.65.74 Crores in DML into Equity capital and its holding has jumped up from 13.95% to 83.44%. With this majority shift, DML has become the subsidiary of Morepen Lab and the popular brand Dr. Morepen comes back under the fold of Morepen Lab.

“Dr. Morepen brand coming back to our kitty gives immense presence in the domestic market in terms of brand and the distribution network. In addition, Dr. Morepen’s OTC range gives us a ready product basket for export of OTC products” said Sushil Suri, CMD, Morepen Laboratories Limited.

DML was hived off earlier for growth in the FMCG segment but looking at emerging opportunities in the pharma sector, Dr. Morepen brand will now focus exclusively on health and of pharma products under the banner of Morepen.

DML, which was incurring heavy loss when it was hived off in March 2003, is presently generating cash profits and the value of brands has multiplied many times. The present value of the brand is estimated to be around Rs.100 crores.

Dr. Morepen’s basket has known and reputed products like Burnol, Lemolate, Isabgol, C-Sip, C-Candy, 2Kool etc and also a chain of stores under the banner of “Lifespring”. All the brands of Dr. Morepen are doing extremely well and have wider reach. Morepen Lab will be able to ride on the success of its fast moving and popular brands, which would enhance the presence of its pharmaceutical and diagnostic products in domestic as well as International field.