| Concord Biotech | |
| Type: | Public |
| Founder: | Sudhir Vaid |
| Industry: | Biotechnology |
| Products: | Biologics Small molecules Active ingredient |
| Revenue: | (FY24) |
| Operating Income: | (FY24) |
| Profit: | (FY24)[1] |
| Num Employees: | 1,180 (2022)[2] |
| Foundation: | 2000 |
| Location City: | Ahmedabad, Gujarat |
| Location Country: | India |
| Area Served: | Worldwide |
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]
It manufactures biopharmaceutical products across therapy segments such as immunosuppressant, oncology, antifungal, antibacterial and anthelmintic. It has two manufacturing facilities–at Dholka near Ahmedabad, which is approved by USFDA,[4] and at Limbasi in Kheda district.[5]
Concord Biotech was founded in 2000 by Sudhir Vaid, a former director at Ranbaxy Laboratories. It was the first company in India and the second in the world to develop an anti-immuno suppressant tacrolimus.[6]
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.[7] After Matrix Laboratories was acquired by Mylan, the latter sold back its stake in Concord Biotech to Vaid and Jhunjhunwala in 2009.[8] [9]
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]