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Concord Biotech IPO Promoters
SUDHIR VAID AND ANKUR VAID

Concord Biotech IPO Company Details to watch

Concord Biotech is an India-based biopharma company and 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 2021, supplying to over 70 countries including regulated markets, such as the United States, Europe and Japan, and India. The company commanded a market share of over 20% by volume in 2021 across identified fermentation-based API products, including dactinomycin, sirolimus, tacrolimus, mycophenolate sodium and cyclosporine. As of March 31, 2022, it had a total installed fermentation capacity of 1,250 m3.
In 2016, it launched its formulation business in India as well as emerging markets, including Nepal,
Mexico, Indonesia, Thailand, Ecuador, Kenya, Singapore and Paraguay, and have further expanded to the United States.
Growth Potential: Concord Biotech is amongst the few companies globally that have successfully and sustainably established and scaled up fermentation-based API manufacturing capabilities. The global small-molecule fermentation-based API market was valued at US$11 billion (Rs. 817 billion) in 2021. The market is expected to reach approximately US$13 billion (Rs 966 billion) in 2026, representing a CAGR of 3.6% from 2021 to 2026. Growth of the fermentation-based API market is expected to be driven primarily by the therapeutic areas of immunology, oncology and anti-infectives.

It has an established presence in these therapeutic areas and are well-poised to benefit from the industry growth tailwinds. As of March 31, 2022, it had six fermentation-based immunosuppressant APIs, including tacrolimus, mycophenolate mofetil, mycophenolate sodium, cyclosporine, sirolimus and pimecrolimus. It aims to continue to grow its immunosuppressant API portfolio, which will remain one of the key contributors to our API business in the near future. In addition to its immunosuppressant API portfolio, we aim to increase the sales of its APIs across other therapeutic areas. The company has invested significantly in capacity expansion in recent years. With its increased capacities, it is in the process of scaling up its API production to serve more customers.
As of March 31, 2022, it had 22 API products. It had filed more than 120 Drug Master Files (“DMFs”) across several countries for its APIs, including 20, 63 and four, respectively, in the United States, Europe and Japan.
In addition, it had obtained Certification of Suitability to the Monographs of the European Pharmacopoeia (“CEPs”) for 13 APIs as of March 31, 2022.
To capitalize on the benefits of backward integration that its presence in APIs provides, it entered into the formulations segment in 2016. In India, it markets a portfolio of 27 brands across immunosuppressants, nephrology drugs and anti-infective drugs for critical care.

For more information about the company, click www.concordbiotech.com 

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