Concord Biotech

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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
RevenueIncrease ₹853 crore (US$110 million) (FY23)[1]
Increase ₹343 crore (US$43 million) (FY23)[1]
Increase ₹240 crore (US$30 million) (FY23)[1]
Number of employees
1,180 (2022)[2]
Websitewww.concordbiotech.com

Concord Biotech Limited (CBL) is an Indian biotechnology company headquartered in Ahmedabad. The company manufactures fermentation based biopharmaceutical active pharmaceutical ingredients (APIs) sold worldwide.

Concord was founded in 2000 by Sudhir Vaid. It manufactures over 30 products across therapy segments such as immunosuppressant, oncology, antifungal, and antibacterial.[3] It was the first company in India and the second in the world to develop an anti-immuno suppressant tacrolimus.[4] Its manufacturing facility in Ahmedabad is approved by global regulatory bodies including Food and Drug Administration (US) and Good manufacturing practice (EU).[5]

Quadria Capital acquired a 20% stake in Concord Biotech in 2016.[6][7][8] Rakesh Jhunjhunwala's Rare Enterprises holds 24% stake in Concord.[9][10][11]

See also[edit]

References[edit]

  1. ^ a b c "Jhunjhunwala backed Concord Biotech sets IPO price band at Rs 705-741". Moneycontrol. 31 July 2023. Retrieved 31 July 2023.
  2. ^ "Annual Report : FY21-22" (PDF). Concord Biotech. Retrieved 17 December 2022.
  3. ^ "Quadria Capital consortium acquires stake in 'Concord Biotech'". Business Standard. Retrieved 5 July 2016.
  4. ^ "Concord Biotech eyes 5-fold growth by '06". Business Standard. Retrieved 28 February 2013.
  5. ^ "Concord Biotech mulling new unit". Business Standard. Retrieved 5 February 2013.
  6. ^ "Quadria Cap concludes Rs 475.31 crore investment in Concord". The Economic Times. Retrieved 5 July 2016.
  7. ^ "Healthcare-focussed PE firm Quadria lines up $9.8-million fund for India". Business Line. Retrieved 13 October 2016.
  8. ^ "Healthcare sector sees 88 funding deals worth $397 million in 2016". The Economic Times. Retrieved 19 September 2016.
  9. ^ "Rakesh Jhunjhunwala to give up Concord Biotech stake, eyes Rs 500 cr". The Economic Times. Retrieved 16 March 2015.
  10. ^ "Domestic pharmaceutical players eye Bharat Serums acquisition". The Economic Times. Retrieved 30 August 2018.
  11. ^ "Quadria to invest in Concord Biotech". Mint. Retrieved 18 January 2016.
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