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COVID 19: ICT, Lasa realise success in Favipiravir drug synthesis, to commence production

Mumbai, June 17, 2020: Veterinary API Major, Lasa Supergenerics and Institute of Chemical Technology had come together in the month of March 2020 in effort to bring the antiviral to the market as a promising therapy to fight the ongoing Covid-19 pandemic. 

Commenting on the development, Dr Omkar Herlekar, Chairman– Lasa Supergenerics Limited, said Efforts over the last few months has brought success and we are looking to manufacture close to 10,000 doses to begin with and in the meanwhile also apply for the drug licence with competent authorities and continue to seek strategic private investments or Government aid. Our move into human steroid API is in line with the organisations inherent strengths and objectives to diversify. 

Commenting on the antivirals successful synthesis, Prof. Vikas N Telvekar, ICT, Mumbai, said we are happy to share with you that the Favipiravir molecule has been successfully synthesized in the ICT laboratory on a lab scale and further pilot plan scale up is required.” 

Recently in its Q4 results, the company reported a healthy increase in its PAT to Rs 3.63 cr for FY20, as compared to a loss of Rs 12.04 cr in the corresponding period last fiscal 

The stock ended at xxx high and xx low on June 17.

About ICT, Institute of Chemical Technology (ICT) Formerly the University Department of Chemical Technology (UDCT) is a Public deemed University specialized in Chemical Technology located in Mumbai, India. It is focused in training and research in various branches of chemical engineering, chemical technology and pharmacy.

About Favipiravir, Favipiravir is an antiviral drug and is a promising antidote for the treatment of Coronavirus disease (COVID-2019). It possesses activity against many RNA viruses. It is a guanine analogue approved for influenza treatment. It can effectively inhibit the RNA-dependent RNA polymerase of RNA viruses such as influenza, Ebola, yellow fever, chikungunya, norovirus and enterovirus, and a recent study reported its activity against 2019-nCoV.

About Lasa Supergenerics Ltd (BSE: 540702; NSE: LASA)

Incorporated in 2011, Lasa is a globally well trusted brand with high quality products, accepted by large companies across the globe. Our Company is the pioneer and amongst the leading players in the manufacturing of Veterinary APIs, with a well-established brand known for its high-quality products amongst various customers. The Company has its unit with state of art manufacturing facilities located at Mahad & Chiplun, Maharashtra with a total installed capacity of 4,300 MT. The Company has over 25% of APIs exported to counties like Australia, Bangladesh, Middle East, China, Turkey, Egypt, Jordan, Korea etc.

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