Corona Remedies plans to start international exports from its ₹130-crore EU-GMP-approved hormone facility by FY29. The company has already signed agreements for European and UK markets, with regulatory filings scheduled for late 2026. This expansion aims to leverage its domestic strength in women's healthcare for global growth.
Corona Remedies is moving to expand its global footprint with a new hormone manufacturing facility in Ahmedabad. Built at a cost of ₹130 crore, the plant has received EU-GMP approval, a standard required for exporting pharmaceutical products to the European Union. The company intends to begin shipping products to Europe and the United Kingdom by the 2029 fiscal year.
Regulatory and Export Strategy
The path to international markets involves a lengthy regulatory process. Corona Remedies expects to file necessary dossiers by the end of 2026, once ongoing bioequivalence studies are complete. The management estimates an 18-month timeline for these approvals. While the plant is now operational, its immediate impact on the company's total revenue will be small, estimated at less than 1% in fiscal year 2027. The contribution is projected to grow to 2-3% of turnover over the subsequent three years as new export markets open up.
Integration and Domestic Base
Women’s healthcare currently forms a major part of the company's domestic business, contributing nearly 30% of its total revenue. To support its hormone product line, Corona Remedies maintains a 31% stake in La Chandra Pharma Labs. This investment provides a level of backward integration, with La Chandra supplying roughly 60-65% of the active pharmaceutical ingredients (APIs)—the raw components used to make medicines—needed for key products like progesterone and testosterone. By producing these ingredients in-house, the company aims to reduce reliance on external suppliers and manage production costs as it scales.
Understanding the Expansion
This move represents a shift in production capacity, as the company plans to transition some of its manufacturing from its existing Solan facility to the new Ahmedabad site. For investors, the primary monitorables will be the speed of regulatory approvals in Europe and the UK, and the company's ability to maintain profit margins while entering competitive global markets. While the company is looking to grow its international presence, India remains the core market for the business. The company expects its international business to reach a high single-digit percentage of total revenue within the next four years.