Concord Biotech

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]

Concord Biotech
Company typePublic
IndustryBiotechnology
Founded2000
FounderSudhir Vaid
Headquarters
Ahmedabad, Gujarat
,
India
Area served
Worldwide
Key people
  • Sudhir Vaid (Chairman & MD)
  • Ankur Vaid (CEO)
ProductsBiologics
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]
Websitewww.concordbiotech.com

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

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

References
  1. "Concord Biotech consolidated net profit rises 3.86% in the March 2024 quarter". Business Standard. Retrieved 24 May 2024.
  2. "Annual Report : FY21-22" (PDF). Concord Biotech. Retrieved 17 December 2022.
  3. "Jhunjhunwala backed Concord Biotech sets IPO price band at Rs 705-741". Moneycontrol. 31 July 2023. Retrieved 31 July 2023.
  4. Balakrishnan, Reghu (23 September 2015). "Actis in talks to buy minority stake in Concord Biotech". mint. Retrieved 24 May 2024.
  5. "Concord Biotech mulling new unit". Business Standard. Retrieved 5 February 2013.
  6. Somvanshi, Kiran Kabtta (4 August 2023). "Concord Biotech's niche API play holds promise for growth". The Economic Times. Retrieved 24 May 2024.
  7. "Concord Biotech eyes 5-fold growth by '06". Business Standard. Retrieved 28 February 2013.
  8. "Matrix takes 55% stake in Concord Bio". Business Standard. Retrieved 24 May 2024.
  9. Dutta, Vishal (8 December 2009). "Mylan sells stake in Concord Biotech". The Economic Times. Retrieved 24 May 2024.
  10. "Quadria Cap concludes Rs 475.31 crore investment in Concord". The Economic Times. Retrieved 5 July 2016.
  11. "Quadria to invest in Concord Biotech". Mint. Retrieved 18 January 2016.
  12. "Rakesh Jhunjhunwala to give up Concord Biotech stake, eyes Rs 500 cr". The Economic Times. Retrieved 16 March 2015.
  13. "Domestic pharmaceutical players eye Bharat Serums acquisition". The Economic Times. Retrieved 30 August 2018.
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