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IPO

LKP Research IPO report on Concord Biotech

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.

Valuation and Outlook

The IPO is fully Offer for Sale and the highest price band of Rs.741, Concord is commanding a PE of 32.3x. SUBSCRIBE.

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04082023 - Concord Biotech -IPO - lkp