Morepen Laboratories today announced 52 DMF filings across ten European countries for six products. The filings are for Cholesterol reducing Drug Atorvastatin (Lipitor) for both the amorphous and the crystalline forms, Antiasthmatic Drug Desloratadine (Clarinex), Antidiabetic Drug Pioglitazone (Actos) and Antibacterial Drugs Sultamicillin Tosylate and Sultamicillin Base (Unasyn).

Morepen has aggressive plans to tap the European market and is in the process making 75 more filings for these products in other European countries. The company has good presence both in Eastern and Western European markets

Explaining the strategy Mr. Sushil Suri, CMD Morepen Labs said “Looking at the emerging growth opportunities in the European Generics market this is a move to increase our play in select high growth therapeutic categories. With these DMF filings we expect our European market share to go over twenty percent over the next three years”

The company which has already emerged cash positive last quarter has shown a forty percent growth in quarter to quarter numbers. Morepen expects to close the current financial year at around 140 Crores up from 130 Crores for the preceding 18 months.

Commenting on the European opportunity Dr Chandrasekhar N K, VP – Business Development said “Eastern Europe would serve as a launch pad for our new molecules which are yet to go off patent. Morepen is the largest exporter of Sultamicillin to Europe. The company is expanding its base in the European market for this product and has developed a proprietary new polymorph which has a better dissolution profile.”