Lasa Supergenerics gets Maharashtra FDA nod for progesterone API

Lasa Supergenerics on Monday said it has made a foray into the hormone and steroid active pharmaceutical ingredient (API) segment for human application, with nod from the Maharashtra Food and Drug Administration for manufacturing progesterone.

The company has received approval from the Maharashtra Food and Drug Administration to manufacture progesterone, at its facility at Mahad industrial area in Maharashtra, Lasa Supergenerics said in a filing to the BSE.

"The trial batches have already been carried out and we are in good stead to start manufacturing from the current month itself," Lasa Supergenerics Chairman Omkar Herlekar said.

This foray may lead the company to expand the existing facilities to add capacities and capabilities to manufacture other hormonal drugs also, he added.

"The market for this drug has been anticipated to grow at a 14 per cent CAGR (compound annual growth rate) and is dominated by the North American markets followed by Asia-Pacific and Europe," Herlekar said.

Shares of Lasa Supergenerics were trading at Rs 36.65 per scrip on the BSE, up 4.86 per cent from the previous close.