Globally, Concord Biotech has over 200 customers in more than 70 countries for both their APIs and formulations. | Image Credit: Concord Biotech website
The initial public offering of biopharma company Concord Biotech Limited will be open from today, August 4 to August 8. The research and development driven Indian biopharma company is one of the leading global developers and manufacturers of select fermentation-based APIs across immunosuppressants and oncology in terms of market share, based on volume in 2022.
Globally, Concord Biotech has over 200 customers in more than 70 countries for both their APIs and formulations. It's website says, "With our diverse range of product offerings, consistent product quality and global network, we have satisfied customers across the globe. Concord is working with leading pharmaceutical companies worldwide with state-of-the-art distribution network & business infrastructure in markets."
In India, Concord Biotech's formulations are provided under a B2B model through number of government and corporate hospitals. In the US, Africa, Latin America and other Asian countries Concord Biotech distributes its formulations primarily through arrangements with distributors, who license its dossiers for registration with their respective regulatory authorities and distribute under its names.
Following are the objectives of the issue as per the company filing:
Helix Investment Holdings Pvt Ltd holds a 20 per cent stake in the company. Helix Investment Holdings is backed by Quadria Capital Fund LP, an Asian private equity fund with a focus on healthcare.
Late veteran investor Rakesh Jhunjhunwala owned 24.09 per cent of the company through his asset management company RARE Enterprises (via RARE Trusts), which is now in the name of his wife, Rekha Jhunjhunwala.