Morepen Laboratories Expands Sales Force to Capture Pharmaceutical Market Growth

Morepen Laboratories plans to hire over 1,000 medical representatives in the next three years to strengthen its formulations business. With this expansion, the company aims to increase its market share in the Indian pharmaceutical sector by enhancing its reach to doctors, pharmacies, and patients.

Morepen Laboratories announced on Friday that it intends to hire more than 1,000 medical representatives over the coming three years, with significant additions expected by FY26. The initiative is part of the company's strategy to bolster its formulations business in the competitive market.

This strategic expansion marks a crucial phase in Morepen's efforts to penetrate the growing domestic finished dosage market, according to Chairman and MD Sushil Suri. By increasing its sales force, Morepen aims to extend its reach, thereby capturing a larger share of India's pharmaceutical market, estimated at Rs 2.38 lakh crore.

Currently, Morepen's formulation business is valued at approximately Rs 325 crore, with plans to escalate to Rs 1,000 crore within five years. This growth will be driven by an aggressive expansion of the medical representative network and deeper market penetration nationally, targeting new products with competitive pricing.

(With inputs from agencies.)