Concord Biotech
Indian biotechnology company
From Wikipedia, the free encyclopedia
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]
 | |
| Company type | Public |
|---|---|
| Industry | Biotechnology |
| Founded | 2000 |
| Founder | Sudhir Vaid |
| Headquarters | , India |
Area served | Worldwide |
Key people |
|
| Products | Biologics Small molecules Active ingredient |
| Revenue |  ₹1,016 crore (US$120 million) (FY24)[1] |
| ₹466 crore (US$55 million) (FY24)[1] | |
| ₹308 crore (US$36 million) (FY24)[1] | |
Number of employees | 1,180 (2022)[2] |
| Website | www |
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]