About Company

• Concord Biotech Limited (“Concord”) was incorporated on November 23, 1984. Concord 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 2022, supplying to over 70 countries including regulated markets, such as the United States, Europe and Japan, and India. Concord is amongst the few companies globally that have successfully and sustainably established and scaled up fermentation-based API manufacturing capabilities. 
• The company commanded a market share of over 20% by volume in 2022 across identified fermentation-based API products, including mupirocin, sirolimus, tacrolimus, mycophenolate sodium and cyclosporine. 
• As of March 31, 2023, they had a total installed fermentation capacity of 1,250 m³. In 2016, they launched their formulation business in India as well as emerging markets, including Nepal, Mexico, Indonesia, Thailand, Ecuador, Kenya, Singapore, Paraguay, and have further expanded to the United States. 
• Concord has an established presence in these therapeutic areas and is well-poised to benefit from the industry growth tailwinds. As of March 31, 2023, they had 6 fermentation-based immunosuppressant APIs, including tacrolimus, mycophenolate mofetil, mycophenolate sodium, cyclosporine, sirolimus and pimecrolimus. 
• As of June 30, 2023, Concord had a portfolio of 57 brands and 77 products manufactured by them, including 23 APIs and 53 formulations. In addition, as of March 31, 2023, they had 80 out-licensed formulation which they distributed in India under their brands. 
• In India, they market a portfolio of 27 brands across immunosuppressants, nephrology drugs and anti-infective drugs for critical care. They have a presence across 20 states and 5 union territories in India, through their sales team. They also have a B2B contract development manufacturing organization (“CDMO”) business where they supply immunosuppressants to the Indian market. 
• Concord had over 200 customers in over 70 countries as of March 31, 2023, for both their APIs and formulations. They have entered into long-term supply agreements with some of their customers. Their API customers include Intas Pharmaceuticals Ltd and Glenmark Pharmaceuticals Ltd. 
• In India, their formulations are provided primarily under a B2B model through 1,500 government and corporate hospitals.

Strengths

• Established presence across the complex fermentation value chain;
• Global leadership in immunosuppressant APIs along with a wide spectrum of complex fermentation-based APIs across multiple therapeutic areas;
• Scaled manufacturing facilities with a consistent regulatory compliance track record and supported by strong R&D capabilities;
• Diversified global customer base with long-standing relationships with key customers;
• Experienced Promoters, management team supported by marquee investors;
• Financial track record of rapid growth, consistent profitability with healthy cash flows and strong shareholder returns.
• Continue to increase the API market share and further develop the portfolio of complex and niche APIs with high growth potential;
• Increase the presence of the existing formulations and expand into new formulations;
• Improve cost management and operational efficiencies;
• Grow the CDMO Business.

Company Promoters

Company Financials

Amount in ? Crore

Objects of the Issue

1. Achieve the benefits of listing the Equity Shares on the Stock Exchanges and
2. Carry out the Offer for Sale of up to 20,925,652 Equity Shares by the Selling Shareholder.