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Company type | Public |
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Industry | Biotechnology |
Founded | 2000 |
Founder | Sudhir Vaid |
Headquarters | , India |
Area served | Worldwide |
Key people |
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Products | Biologics Small molecules Active ingredient |
Revenue | ![]() |
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Number of employees | 1,180 (2022)[2] |
Website | www |
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.[4] It has two manufacturing facilities–at Dholka near Ahmedabad, which is approved by USFDA,[5] and at Limbasi in Kheda district.[6]
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]