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Informist, Monday, Sept. 22, 2025

 

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--Concord Biotech: Aim to diversify exports to new geographies
--Concord Biotech: Looking to grow business in Russia, Japan, Europe
--Concord Biotech: Looking to grow business also in Latin America
--Source: Concord Biotech diversifying exports to mitigate US tariff threats
--Concord Biotech: Co's plants have approval from multiple regulatory bodies
--Concord Biotech: Currently have INR 3.5 billion in cash on books 
--Concord Biotech: Plan to distribute INR 1.11 bln as dividend by October
--Concord Biotech: Have cut prices of APIs, formulations by 5-7% on GST cut
 

 

By Sunil Raghu

 

AHMEDABAD – Ahmedabad-based biopharma company Concord Biotech Ltd. is gradually moderating its reliance on exports to the US and exploring newer markets to grow sales amid potential tariff risks, a senior company official said. While the pharmaceutical industry has remained relatively safe from the impact of tariffs imposed by the US on Indian goods, Concord Biotech is preparing itself to balance its global exposure and face any future disruptions due to tariff imposition, the official said on condition of anonymity.

 

The spread to newer geographies and in the domestic market aligns with their broader strategy to deepen their reach, the company management confirmed. "Our revenue was evenly split between exports and domestic sales last year. However, over the last two quarters, the needle has shifted towards domestic markets, with the local market now accounting for 55% of our revenue," its Joint Managing Director and Chief Executive Officer Ankur Vaid told Informist. The company is planning to expand markets across Latin America, Russia, Europe and Japan.

 

Concord Biotech reported a net profit of INR 3.72 billion in 2024-25 (Apr-Mar) on revenues of INR 12 billion. The net profit in the June quarter was INR 440.58 million on revenues of INR 2.04 billion. The company did not share sales figures across different geographies.

The confidence in its international strategy is reinforced by a series of regulatory approvals Concord Biotech got over the past year, Vaid said. Multiple international regulatory bodies have inspected and given a clean chit to its manufacturing plants and processes in 2024 and 2025. These include the US Food and Drug Administration issuing an establishment inspection report to the company's Dholka active pharmaceutical ingredient facility in June. The plant has also been inspected by the European Union Good Manufacturing Practice Authority and the Russian GMP Authority in July-August. Both the regulators found the manufacturing process at this plant to be compliant, with no critical observations.

 

The EU GMP Authority has also cleared the Limbasi API facility in August. The company has also seen inspections and clearances from the Medicines and Healthcare products Regulatory Agency of the UK, the Pharmaceuticals and Medical Devices Agency of Japan, the regulatory health agency of Brazil, and Health Canada in the past year.

 

These approvals will enable Concord Biotech to acquire new customers, renew existing contracts and negotiate better prices. With these inspections complete, the company does not anticipate further visits from regulators for at least the next two to three years, Vaid said.

 

The company has four units – API plants at Dholka and Limbasi, and formulation and injectables facilities at Valthera. Concord Biotech produces APIs, including immunosuppressants, anti-infectives, and oncology drugs, through fermentation or brewing processes that utilise microorganisms. With a total capacity of 1,250 cubic meters, Concord Biotech can run very large-scale microbial production batches at one go. This volume makes it one of the biggest players in India.

 

The company is also hopeful of generating higher revenue from its newly commissioned injectables plant at Valthera. "We commissioned the plant in Jan-Mar. The validation batches of drugs have commenced, and the revenue from this plant has begun trickling in," Vaid said. The company expects to earn up to INR 5 billion in revenue from the plant over the coming five to seven years.

 

Vaid said the company has nearly INR 3.5 billion in cash. With infrastructure ready and no need for capital expenditure, the company proposes to distribute nearly INR 1.11 billion as dividends to shareholders before October. The company had declared a dividend of INR 10.70 per share in FY25.

 

Vaid said the company has cut prices of its drugs by 5%-7% in the wake of the reduction in goods and services tax that came into effect from Monday.

 

On Monday, shares of Concord Biotech ended at INR 1,620.60 on the National Stock Exchange, down 4.4% from the previous close.  End

 

Edited by Saji George Titus

 

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