Skip to main content

Global investor Corinth Group invests $100m in leading Indian Pharmaceutical business, Morepen Laboratories

Corinth Group’s investment to be used to expand Morepen’s operations and presence in Diagnostic Devices

Chur/London, 21 st May 2021: Global investment group Corinth Group ( is pleased to announce its $100m USD investment in Morepen Group, Delhi (India) (, a leading 36 year old fast growing listed Indian pharmaceutical company with two USFDA approved facilities. At an Extraordinary General Meeting (EGM) held yesterday through video conferencing, the shareholders approved the direct investment of US$ 32.50m in Morepen’s equity.

Following yesterday’s approval, Corinth would be allotted 58.50 million equity shares in Morepen Laboratories Limited on preferential basis, equating to a 9.31% equity stake in the Company on a fully expanded capital base. US$32.5m of the total investment will go to the parent company while the remaining US$67.5m will go to the group companies of the promoter’s families. 

The investment will be used to:

  1. a) Scale up Morepen’s R&D facilities to meet the significantly enhanced Active Pharmaceutical Ingredient (API) demand, a market size of US$40 billion, that Morepen has in the pipeline for the next three years
  2. b) Establish up new USFDA standard API facilities to meet the significant ramp up in scale and pipeline
  3. c) Build a world class facility for Finished Dosages as per USFDA standards at Morepen’s headquarters in Baddi, Himachal Pradesh, to cater to highly regulated markets such as the US and Japan
  4. d) Investment into world class diagnostics facilities including the manufacture of critical inputs, components, and enzymes to meet regulated market standards. India is seeing an exponential jump in household spend on Home Diagnostics, with demand currently far outstripping supply
  5. e) Investment into new products and brands under the Dr Morepen umbrella, an existing household brand across India, to leverage its pan India supply chain and benefit from the growth in online sales

Sir Christopher Pissarides, Chairman of Corinth Group’s Advisory Board, said “The investment into Morepen follows from our increased focus on emerging markets, and in particular the health and pharmaceutical industry. India is a key global market with significant growth opportunity, and we look forward to working with management to help the business develop while catering to a rapidly growing sector.” Corinth Group of Companies

Mr. Andreas Matsas, CEO of Corinth Capital Fund, said “We are excited to partner with one of India’s leading pharmaceutical companies and have already started the process of setting up a dedicated full-service office in Delhi, India. We are actively working towards setting up an AIF, in line with Indian regulatory requirements, to cater to the Indian market. Our Investment into Morepen Group establishes Corinth’s commitment to the Indian market, which we believe is a region with long-term growth potential, with ongoing investments of another USD 200 million in the Agri and Logistics sector undergoing due diligence.”

About Corinth Group (

Corinth Group, headquartered Switzerland, is the 70% owner of the Corinth Capital RAIF V.C.I.C, a regulated alternative investment Fund ( registered in Cyprus and passporting in the EU region. The investment strategy of the fund is aligned to ESG compliant investment themes focusing on green energy, Agri-tech, healthcare, pharma, foods and alike. Corinth Capital Fund is dedicated fund for emerging market with committed hard AUM over Two Billion Euros and is amongst the very few global Funds providing a fixed annual return with full downside protection through comprehensive insurance coverage from tier-1 insurance providers on the underlying asset.