IGI Logo

Company Overview

Concord Biotech Limited (“Concord”) is 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 with close to 130 DMF filings has a 20% market share globally in its top selling APIs 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.

India-based biopharma company is amongst the few companies globally that have successfully and sustainably established and scaled up fermentation-based API manufacturing capabilities. Fermentation is a challenging process as it involves working with microbial strains and culture, controlling multiple process parameters, and performing various purification steps. Small modifications to the process may lead to relatively large variances in the outputs. Complex technical capabilities, difficulties in scaling up operations and the substantial capital investment required have resulted in significant barriers to entry in the fermentation-based API space. The global small-molecule fermentation-based API market was valued at ? 925 billion in 2022. The market is expected to reach approximately ? 1,186 billion in 2026, representing a CAGR of 3.6% from 2022 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.

Concord has an established presence in its therapeutic areas and is well-poised to benefit from the industry tailwinds. As of March 31, 2023, they had 6 fermentation-based immunosuppressant APIs, including tacrolimus, mycophenolate mofetil, mycophenolate sodium, cyclosporine, sirolimus and pimecrolimus. They aim to continue to grow their immunosuppressant API portfolio, which will remain one of the key contributors to their API business in the near future.

In addition to their immunosuppressant API portfolio, they aim to increase the sales of their APIs across other therapeutic areas, especially the following

* Anti-Infective APIs

* Anti-Bacterial APIs

* Anti-Fungal APIs

* Oncology Drug APIs

Concord has invested significantly in capacity expansion in recent years. With their increased capacities, they are in the process of scaling up their API production to serve more customers.

Globally recognized facilities: As of March 31, 2023, Concord had three manufacturing facilities in the state of Gujarat, India, comprising API manufacturing facilities in Dholka and Limbasi and a formulation manufacturing facility in Valthera, which were commercialized in 2000, 2016 and 2021.

To Read Complete Report & Disclaimer Click Here

For More  LKP Securities Ltd Disclaimer  http://www.lkpsec.com/

SEBI Registration number is INM000002483

Above views are of the author and not of the website kindly read disclaimer