CORONA Remedies picks up stake in La Chandra Pharmalab

Ahmedabad-based, CORONA Remedies has picked up a minority stake in Gujarat-based hormone API manufacturer La Chandra Pharmalab.

La Chandra Pharmalab is an API manufacturer with a production facility in Palanpur in north Gujarat. It is a manufacturer and supplier of pregnancy care drug progesterone in India and also has international regulatory approvals for a range of hormone APIs.

CORONA Remedies makes a range of products for gastrointestinal therapy, pain therapy, cardiovascular therapy, gynaecological therapy, among others.

Commenting on the development, Priyvrat Gadhvi, MD, La Chandra Pharmalab, said, “This collaboration heralds a new phase of exponential growth for us. Our technical capabilities and expertise in sunrise technologies in API manufacturing shall be greatly augmented with CORONA’s market strength. This alliance will also help us leverage our strong pipeline.”

Nirav K Mehta, Promoter & Executive Director, CORONA Remedies, said “The deal signals backward integration and thrust on hormone therapeutics for CORONA. With its dynamic growth, focus on niche APIs and strong technical expertise, La Chandra Pharmalab is the ideal collaborator for us. We are excited about the prospect of developing a range of high-potential products with this tie-up.”