Morepen to Hire 1,000 Medical Reps to Boost Formulations Business

New Delhi, Apr 11 (PTI) Morepen Laboratories on Friday said it will add more than 1,000 medical representatives over the next three years, with over 200 team members expected to join in FY26 alone.

The company aims to strengthen its formulations business in the market through new hirings.

"This expansion represents a pivotal moment in Morepen's journey as we sharpen our focus on the expanding domestic finished dosage market," Morepen Laboratories Chairman and MD Sushil Suri said in a statement.

With significant increase in the sales force and enhanced reach to doctors, pharmacies, and patients, the drugmaker is setting the stage for getting a bigger pie in the Indian pharmaceutical market valued at Rs 2.38 lakh crore, yielding higher gross margins and better returns for stakeholders in the long run, he added.

Currently, Morepen's formulation business stands around Rs 325 crore, and the company is targeting to touch Rs 1,000 crore in the next five years.

This goal will be supported by an aggressive expansion of the medical representative network and deeper market penetration across urban and rural India, with major growth expected from new products that the company is already producing at highly competitive costs, the company said.

The Indian pharmaceutical market is projected to reach USD 130 billion in 2030, with an expected annual growth rate of 8.2 per cent.

Morepen shares were trading 3.84 per cent up at Rs 49.97 apiece on the BSE.