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Morepen Labs shares jump 5%, snap eight-day losing streak on US generic drug market foray

Reported by: CNBC TV18 ·

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Morepen Laboratories

Summary

CNBC TV18 reported that Morepen Labs shares rose 5%, ending a run of eight straight losing sessions, after the company entered the US market for finished generic medicines. Morepen has supplied Desloratadine, an active pharmaceutical ingredient (API), to the US for several years. An API is the main chemical ingredient that gives a medicine its effect; the latest launch moves the company into finished-dosage medicines and distribution in the US. A losing streak means the stock closed lower on each of the previous eight trading days. The report gives no revenue, profit or launch date for the US foray.

AI summary of what CNBC TV18 reported. AI can make mistakes. Read the full story on CNBC TV18

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CNBC TV18  · · Tone 0

Morepen Labs shares jump 5%, snap eight-day losing streak on US generic drug market foray

Morepen has supplied Desloratadine Active Pharmaceutical Ingredient (API) to the US market for several years. The latest launch marks its entry into finished-dosage medicines and distribution in the US.

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