LASA launches new product - Oxyclozanide

Lasa Supergenerics Limited (BSE: 540702, NSE: LASA), pioneer and amongst the leading players in the manufacturing of Veterinary and Human APIs in India through its catalyst chemistry expertise and fully backward integrated unit, has added another product - Oxyclozanide to its portfolio of products.

Oxyclozanide is an anthelmintic. It is used in the treatment and control of fascioliasis a topical worm infection in ruminants mainly domestic animals such as cattle (especially buffalos in farm), sheep, and goats. For this, the Company is setting up capacity in a brown field expansion at its Chiplun unit. The total capacity would be 250 MT and The Company is committed to funding the required Capex through internal accruals. The production would start from August 2021.

The product is in huge demand and the management is confident of having a strong order book from the time production commences. The Company already has export approvals for several regions. Oxyclozanide would also be exported to these regions.

Commenting on the recent development, Dr. Omkar Herlekar, Chairman & Managing Director, Lasa Supergenerics Limited said: "We are very pleased to inform that the Company has added another interesting product to its portfolio. Oxyclozanide is an anthelmintic. It has a huge opportunity both in domestic as well export markets. The additional capacity is being put within the existing facility at Chiplun, Maharashtra. This, like other products, is also a difficult product to manufacture and hence there are not many players manufacturing it. Also, it is a product of regular consumption within the veterinary space. Since we already possess various certificates to export to different regions, we would be targeting both domestic and export markets. We are very excited about the launch of Oxyclozanide as it fit our product selection criteria and we are confident of grabbing a significant market share. Besides this we have plan to come up with one more product details of which shall be shared shortly. The Company is in a phase of evolution and growth and we will strive hard and deliver on the expected lines.

I would like to thank the entire team of 'LASA' for their untiring efforts, hard work, sincerity and high dedication. Also, I would like to thank our valued Shareholders, whose support and faith in our Company has given us the determination and ambition to go from strength to strength."

Shares of Lasa Supergenerics Ltd was last trading in BSE at Rs.75.95 as compared to the previous close of Rs. 76.15. The total number of shares traded during the day was 41062 in over 542 trades.

The stock hit an intraday high of Rs. 77 and intraday low of 75.3. The net turnover during the day was Rs. 3125074.

Source : Equity Bulls

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