Lasa Supergenerics Ltd gains by nearly 5 per cent

Lasa Supergenerics has received an approval from Food & Drug Administration authorities to manufacture Progesterone. Soon after this development, the stock of the company gained by 4.86 per cent.

With this approval from FDA, the company has been able to successfully foray into the hormone and steroid API segment for human application. In the press release, Lasa Supergenerics stated that the steroid hormone-Progesterone will be manufactured at its WHO GMP-certified facility located at Mahad Industrial Area. Progesterone being a female sex hormone is used in the treatment of Amenorrhea or say, in the absence of menstrual periods. Also, it can be used with estrogen in the hormone replacement therapy (HRT) as well as for infertility treatment for women.

Previously, the company had announced about its collaboration with ICT to work on the Favipiravir molecule, considering it as a promising antiviral for treating COVID-19 virus due to its RNA capabilities, against many viruses, such as influenza and Ebola. With the efforts currently being taken, it now seeks necessary permissions from DCGI for conducting bioequivalence clinical trials in India in order to showcase its effectiveness and also, to get into full-scale production with the support of the government or strategic investments or tie-ups.

Lasa Supergenerics Ltd is amongst the leading players in the manufacturing of veterinary APIs, with a well-established brand known for its high-quality products amongst various customers.

On Monday, the stock of the company closed at Rs 36.65, up by 4.86 per share or Rs 1.70. The intraday high was Rs 36.65 and the intraday low was Rs 35.75. The 52-week high is Rs 49.70 while, the 52-week low is Rs 9.48 on BSE.