In a conversation with ET Edge Insights, the Chairman and Managing Director of Morepen Laboratories Ltd, Sushil Suri, discusses India’s Global Impact, Pharma, Diagnostics and Make in India. India is perhaps better known as the ‘pharmacy of the world’ because of leading organisations like Morepen Laboratories. Due to its involvement in Active Pharmaceutical Ingredients (APIs) as well as OTC products like Burnol, Morepen has become a leader in the space globally.
“Before, India was perhaps a dumpyard for other companies and their B-quality products. It is now that we are being recognised as a key global player and I think that’s a great starting point,” begins Suri. From being a ‘generic’ country, India is now on its way to becoming an R&D country – an interesting phase we are going through.
The name Morepen comes from their penicillin production, helmed by Dr. Morepen who synthesised penicillin and prepared the drug. Gaining experience by treating diseases like diabetes, cardiac conditions, and neurological issues, they evolved from antibiotics to a new molecular phase. They started by selling to India and later progressed to neighbouring countries. Now Morepen exports to over 85 countries. Moving from being semi-regulated to FDA-approved, Morepen has successfully weathered the challenge of meeting the guidelines of the various countries.
Morepen is now focused on riding the growth wave that India is riding, slowly taking on the challenge of making her an economic leader of the world. They have been risk-takers since 1998 when they decided to shut their antibiotics division and focus on new molecules, against the wishes of investors and bankers. Now they boast of over 140 products in this segment. The second radical decision was to get out of doctor’s chambers – where competition is intense and ROI is inadequate – and directly reach out to consumers. The third decision was to foray into medical devices that are manufactured in India. At a time when India’s manufacturing sector was in its nascent stages, they set up manufacturing hubs in India. These decisions paid off and helped the laboratory reach where it is now, propelled by forward-thinking ideas. Going forward, biotechnology is one space that Morepen wants to focus on. Similarly, formulating the next steps for medical devices and entering the diagnostics market is on their agenda. “Most companies want to replicate processes, but we are trying to break stereotypes and take some bold steps instead,” says Suri.
