Concord Biotech
 | |
| Company type | Public |
|---|---|
| Industry | Biotechnology |
| Founded | 2000 |
| Founder | Sudhir Vaid |
| Headquarters | , India |
Area served | Worldwide |
Key people |
|
| Products | Biologics Small molecules Active ingredient |
| Revenue |  ₹1,016 crore (US$120 million) (FY24)[1] |
| ₹466 crore (US$56 million) (FY24)[1] | |
| ₹308 crore (US$37 million) (FY24)[1] | |
Number of employees | 1,180 (2022)[2] |
| Website | www |
Concord Biotech Limited (CBL) is an Indian biotechnology company headquartered in Ahmedabad. The company manufactures fermentation-based biopharmaceutical active pharmaceutical ingredients (APIs) sold worldwide.[3]
It manufactures biopharmaceutical products across therapy segments such as immunosuppressant, oncology, antifungal, antibacterial and anthelmintic.[4] It has two manufacturing facilities–at Dholka near Ahmedabad, which is approved by USFDA,[5] and at Limbasi in Kheda district.[6]
History
[edit]Concord Biotech was founded in 2000 by Sudhir Vaid, a former director at Ranbaxy Laboratories.[4] It was the first company in India and the second in the world to develop an anti-immuno suppressant tacrolimus.[7]
In 2004, Rakesh Jhunjhunwala acquired around 14% stake in the company. In 2005, Hyderabad-based Matrix Laboratories acquired 55% stake in the company, by buying partial shareholding of Vaid and Jhunjhunwala.[8] After Matrix Laboratories was acquired by Mylan, the latter sold back its stake in Concord Biotech to Vaid and Jhunjhunwala in 2009.[9][4]
Quadria Capital acquired a 20% stake in Concord Biotech in 2016.[10][11] Jhunjhunwala's Rare Enterprises holds 24% stake in the company.[12][13] Quadria Capital sold its entire stake in Concord Biotech's 2023 initial public offering.[3]
See also
[edit]References
[edit]- ^ a b c "Concord Biotech consolidated net profit rises 3.86% in the March 2024 quarter". Business Standard. Retrieved 24 May 2024.
- ^ "Annual Report : FY21-22" (PDF). Concord Biotech. Retrieved 17 December 2022.
- ^ a b "Jhunjhunwala backed Concord Biotech sets IPO price band at Rs 705-741". Moneycontrol. 31 July 2023. Retrieved 31 July 2023.
- ^ a b c Balakrishnan, Reghu (23 September 2015). "Actis in talks to buy minority stake in Concord Biotech". mint. Retrieved 24 May 2024.
- ^ "Concord Biotech mulling new unit". Business Standard. Retrieved 5 February 2013.
- ^ Somvanshi, Kiran Kabtta (4 August 2023). "Concord Biotech's niche API play holds promise for growth". The Economic Times. Retrieved 24 May 2024.
- ^ "Concord Biotech eyes 5-fold growth by '06". Business Standard. Retrieved 28 February 2013.
- ^ "Matrix takes 55% stake in Concord Bio". Business Standard. Retrieved 24 May 2024.
- ^ Dutta, Vishal (8 December 2009). "Mylan sells stake in Concord Biotech". The Economic Times. Retrieved 24 May 2024.
- ^ "Quadria Cap concludes Rs 475.31 crore investment in Concord". The Economic Times. 5 July 2016. Retrieved 5 July 2016.
- ^ "Quadria to invest in Concord Biotech". Mint. Retrieved 18 January 2016.
- ^ Poddar, Nisha (16 March 2015). "Rakesh Jhunjhunwala to give up Concord Biotech stake, eyes Rs 500 cr". The Economic Times. Retrieved 16 March 2015.
- ^ Balakrishnan, Reghu (30 August 2018). "Domestic pharmaceutical players eye Bharat Serums acquisition". The Economic Times. Retrieved 30 August 2018.
- Pharmaceutical companies of India
- Biotechnology companies of India
- Manufacturing companies based in Ahmedabad
- 2000 establishments in Gujarat
- Indian companies established in 2000
- Pharmaceutical companies established in 2000
- Companies listed on the National Stock Exchange of India
- Companies listed on the Bombay Stock Exchange
- 2023 initial public offerings