Corona Remedies has lined up commercial agreements with partners across Europe, the UK, and other international markets and expects to begin supplying them from its new ₹130-crore EU-GMP-approved hormone manufacturing facility by FY29, with regulatory dossier filings scheduled for November-December this year.
The Ahmedabad-based pharmaceutical company said it has completed bioequivalence studies and is in the final stages of preparing regulatory dossiers, which will be submitted to overseas partners for filing by the end of 2026. The approval process is expected to take 12-18 months, paving the way for commercial supplies to regulated international markets from FY29.
“The hormonal plant has just started on June 30. We are in the final stage of developing the dossiers. By November-December 2026 we will be ready with the dossiers after completion of bioequivalence studies. We have already done a lot of promising agreements with partners. We will send these dossiers to the concerned countries for registration, and it will take another 12-18 months. We are projecting FY28-FY29 to kick off this plant at an international level, and we have high hopes from the international market,” Founder and Managing Director Nirav Mehta said during the company’s earnings call on Monday. The company said the new facility follows a “one world, one quality” manufacturing philosophy and will cater to both domestic and international markets. Management said Corona has already invested around Rs 130 crore in the EU-GMP-approved hormone manufacturing plant.
Hormonal therapies remain a key pillar of Corona Remedies’ business. Management said women’s healthcare contributes around 30% of the company’s domestic revenues, while hormone therapies account for nearly 30 per cent of the women’s healthcare portfolio, making the segment one of the company’s most important growth drivers. Hormonal products were earlier manufactured at the company’s Solan facility, but production is now being shifted to the new EU-GMP-approved plant, which will supply both the Indian and overseas markets.
The company expects the new facility to make a gradual financial contribution. Revenue from the plant is projected to account for less than one per cent of turnover in FY27, increasing to around 2-3 per cent over the following three years as export approvals are secured and international supplies commence. While exports are expected to accelerate over the medium term, India will remain Corona Remedies’ primary market. Mehta said international business currently contributes about three per cent of the company’s revenue and is expected to grow to high single digits over the next three to four years, while domestic operations will continue to account for more than 90 per cent of overall revenue.
Supporting the export strategy is Corona’s backward integration through La Chandra Pharma Labs, in which the company holds a 31 per cent stake. The associate manufactures hormone active pharmaceutical ingredients (APIs), including progesterone, testosterone, norethisterone and mifepristone, and supplies around 60-65 per cent of Corona’s hormone API requirements. “Today, about 65 per cent of progesterone API manufactured in India comes from La Chandra. Around 60-65 per cent of our API requirement is sourced from La Chandra, while the balance comes from other manufacturers. We are taking those APIs, developing the dossiers and using them at our formulation facility,” Mehta said.
The new hormone manufacturing unit, inaugurated earlier this year near Ahmedabad, is designed to meet European Good Manufacturing Practice (EU-GMP) standards, enabling Corona Remedies to pursue registrations in regulated overseas markets while strengthening its position in India’s fast-growing women’s healthcare segment.
Published on August 3, 2026
