Intas Pharmaceuticals

Last updated

Intas Pharmaceuticals
Company type Private
Industry Pharmaceuticals
Biopharmaceuticals
Founded1977;47 years ago (1977)
FounderHasmukh Chudgar
Headquarters Ahmedabad, Gujarat,
India
Area served
Worldwide
Key people
Binish Chudgar
(Vice Chairman and Joint MD)
Nimish Chudgar
(Joint MD and CEO)
Urmish Chudgar
(Joint MD)
Products Pharmaceutical drugs, generic drugs, antiviral drugs, over-the-counter drugs, vaccines,
RevenueIncrease2.svg₹22,379 crore (US$2.8 billion) (FY23) [1]
Decrease2.svg₹2,422 crore (US$300 million) (FY23) [1]
Number of employees
22093+ (2024)
Subsidiaries Accord Healthcare;
Website www.intaspharma.com

Intas Pharmaceuticals Limited is an Indian multinational pharmaceutical company headquartered in Ahmedabad. [2] It is a producer of generic therapeutic drugs and engaged in contract clinical research and manufacturing. [3] It has 22 manufacturing plants, 17 in India and the rest in Greece, United Kingdom and Mexico. [1] In the financial year 2019, 69% of the company's revenue came from international markets while 31% came from India. [4] It's market presence is more than 100+ countries.

Contents

History

Etizolam tablets manufactured by Intas. Etilaam 1mg Tablet by Intas Pharmaceuticals.JPG
Etizolam tablets manufactured by Intas.

The company was founded by a Jain pharmacist Hasmukh Chudgar in 1977 [5] and was incorporated in 1985. [6]

In 2013, ChrysCapital acquired 16.14% stake in the company, and in 2015, ChrysCapital subsequently sold 10.13% to Singapore-based Temasek Holdings [7] and in 2017, it further diluted 3.01% stake to Capital International. Though, by May 2020, ChrysCapital bought back Capital International's stake. [8] Currently, the Chudgar family, owns 83.85% stake in the company, with 10.13% being held by Temasek Holdings, and 6.02% by ChrysCapital. [6]

As of March 2021, the company is operating 19 manufacturing facilities globally - 13 in India, 5 in the UK, and 1 in Mexico. [6] The company has set up a new manufacturing facility in PHARMEZ (Bavla, near Ahmedabad) with capacity to manufacture and export more than 1 billion solid dosages and 5 million injectables. [9]

Divisions

Biologics Unit (formerly, Intas Biopharmaceuticals)

In 2006, an independent biotechnology division of Intas Pharmaceuticals was incorporated as Intas Biopharmaceuticals by Urmish Chudgar, a hematologist. Later in 2012-13, the subsidiary was merged with the parent company Intas Pharmaceuticals Limited. [10] This division is involved in development and manufacturing of biosimilar products based on recombinant DNA and monoclonal antibodies. [11]

The company faced an EU-GMP (Good Manufacturing Practice) audit in December 2006, to seek approval for a clinical trial of its biosimilar Filgrastim in Europe and was certified as EU-GMP compliant in April 2007, becoming the first company in India to receive such certification. [12] In 2015, the company launched its first biosimilar product, Filgrastim in Europe, to treat patients with advanced HIV infection and immune system disorders such as neutropenia. [13] [14]

Apart from EU-GMP certification, the company has approvals from MCC South Africa, Gulf Cooperation Council (GCC), Syria, Yemen, Belarus and several other national health authorities for its manufacturing facility and products. [15]

Subsidiaries

Accord Healthcare

London-headquartered Accord Healthcare is a fully-owned subsidiary of Intas Pharmaceuticals, which deals with large-scale generic pharmaceuticals across Europe and North America markets. It also manages an American R&D unit which is located at Research Triangle Park, Durham. As of 2018, the company has approval for 89 Abbreviated New Drug Applications and is selling 255 dosing presentations. [16]

Acquisitions

Teva Pharmaceuticals (UK & Ireland)

In 2016, Intas acquired the assets of Teva Pharmaceuticals in the UK and Ireland for US$764 million. [17] [2]

Actavis (UK & Ireland)

In 2017, the company's Accord Healthcare announced acquisition of Actavis UK Ltd. and Actavis Ireland Ltd from Teva Pharmaceutical Industries, for an enterprise value of £603 million. [18] [19] The deal included a portfolio of generic medicines and a manufacturing plant in Barnstaple. [20]

Sanofi's Fawdon Plant

In 2018, Intas' subsidiary Accord Healthcare reopened Sanofi 's Fawdon plant in the UK for manufacturing generic effervescent medicines. The plant was acquired in 2015 after Sanofi closed the facility. [21] This is the fifth manufacturing location for Accord in the country after Harrow, Barnstaple, Haverhill, and Didcot. [22]

Controversies

In December 2020, the company along with Mankind Pharma received show-cause notices for selling anti-diabetic medicine without seeking price approval from National Pharmaceutical Pricing Authority. [23]

Quality control issues

In December 2022, upon compliance inspection by the FDA, the plant was found to be in violation of most established laboratory practices and protocols, as revealed in the stunning report from January 2023. [24]

Testing conducted on behalf of the American military by the laboratory Valisure revealed that generic tacrolimus manufactured by Intas was not a functional substitute for the brand name drug. [25]

See also

Related Research Articles

<span class="mw-page-title-main">Biocon</span> Indian multinational biopharmaceutical company

Biocon Limited is an Indian biopharmaceutical company based in Bangalore. It was founded by Kiran Mazumdar-Shaw in 1978. The company manufactures generic active pharmaceutical ingredients (APIs) that are sold in approximately 120 countries, including the United States and Europe. It also manufactures novel biologics as well as biosimilar insulins and antibodies, which are sold in India as branded formulations. Biocon's biosimilar products are also sold in both bulk and formulation forms in several emerging markets.

<span class="mw-page-title-main">Cefpodoxime</span> Antibiotic

Cefpodoxime is an oral, third-generation cephalosporin antibiotic available in various generic preparations. It is active against both Gram-positive and Gram-negative organisms with notable exceptions including Pseudomonas aeruginosa, Enterococcus, and Bacteroides fragilis. It is typically used to treat acute otitis media, pharyngitis, sinusitis, and gonorrhea. It also finds use as oral continuation therapy when intravenous cephalosporins are no longer necessary for continued treatment.

The pharmaceutical industry in India was valued at an estimated US$42 billion in 2021 and is estimated to reach $130 billion by 2030. India is the world's largest provider of generic medicines by volume, with a 20% share of total global pharmaceutical exports. It is also the largest vaccine supplier in the world by volume, accounting for more than 60% of all vaccines manufactured in the world. Indian pharmaceutical products are exported to various regulated markets including the US, UK, European Union and Canada.

<span class="mw-page-title-main">Hospira</span> American pharmaceutical company

Hospira was an American global pharmaceutical and medical device company with headquarters in Lake Forest, Illinois. It had approximately 19,000 employees. Before its acquisition by Pfizer, Hospira was the world's largest producer of generic injectable pharmaceuticals, manufacturing generic acute-care and oncology injectables, as well as integrated infusion therapy and medication management systems. Hospira's products are used by hospitals and alternate site providers, such as clinics, home healthcare providers and long-term care facilities. It was formerly the hospital products division of Abbott Laboratories. On September 3, 2015, Hospira was acquired by Pfizer, who subsequently sold off the medical devices portion of Hospira to ICU Medical.

<span class="mw-page-title-main">Apotex</span> Canadian pharmaceutical company

Apotex Inc. is a Canadian pharmaceutical corporation. Founded in 1974 by Barry Sherman, the company is the largest producer of generic drugs in Canada, with annual sales exceeding CA$2.5 billion. By 2023, Apotex employed close to 8,000 people as Canada's largest drug manufacturer, with over 300 products selling in over 115 countries. Apotex manufactures and distributes generic medications for a range of diseases and health conditions that include cancer, diabetes, high cholesterol, glaucoma, infections and blood pressure.

<span class="mw-page-title-main">Teva Pharmaceuticals</span> Israeli pharmaceutical company

Teva Pharmaceutical Industries Ltd. is an Israeli multinational pharmaceutical company. Teva specializes primarily in generic drugs, but other business interests include branded-drugs, active pharmaceutical ingredients (API's) and, to a lesser extent, contract manufacturing services and an out-licensing platform.

<span class="mw-page-title-main">Actavis</span> Global pharmaceutical company

Actavis Generics is a global pharmaceutical company focused on acquiring, developing, manufacturing and marketing branded pharmaceuticals, generic and over-the-counter medicines, and biologic products. Actavis has a commercial presence across approximately 100 countries. The company has global headquarters in Dublin, Ireland and administrative headquarters in Parsippany-Troy Hills, New Jersey, United States.

<span class="mw-page-title-main">Zydus Lifesciences</span> Indian multinational pharmaceutical company

Zydus Lifesciences Limited, formerly known as Cadila Healthcare Limited, is an Indian multinational pharmaceutical company headquartered in Ahmedabad, which is primarily engaged in the manufacturing of generic drugs. The company ranked 100th in the Fortune India 500 list in 2020.

<span class="mw-page-title-main">Olainfarm</span> Company based in Latvia

Olainfarm AS is a Latvian leading manufacturer in the chemical and pharmaceutical sector of the Baltic States.

<span class="mw-page-title-main">Lupin Limited</span> Indian multinational pharmaceutical company

Lupin Limited is an Indian multinational pharmaceutical company based in Mumbai. It is one of the largest generic pharmaceutical companies by revenue globally. The company's key focus areas include paediatrics, cardiovascular, anti-infectives, diabetology, asthma and anti-tuberculosis.

<span class="mw-page-title-main">Aurobindo Pharma</span> Indian multinational pharmaceutical company

Aurobindo Pharma Limited is an Indian multinational pharmaceutical manufacturing company headquartered in HITEC City, Hyderabad, India. The company manufactures generic pharmaceuticals and active pharmaceutical ingredients. The company’s area of activity includes six major therapeutic and product areas: antibiotics, anti-retrovirals, cardiovascular products, central nervous system products, gastroenterologicals, and anti-allergics. The company markets these products in over 125 countries. Its marketing partners include AstraZeneca and Pfizer.

<span class="mw-page-title-main">Amneal Pharmaceuticals</span> American publicly traded generics and specialty pharmaceutical company

Amneal Pharmaceuticals, Inc. is an American publicly traded generics and specialty pharmaceutical company. The company is headquartered in Bridgewater, New Jersey.

Celltrion, Inc. is a biopharmaceutical company headquartered in Incheon, South Korea. Celltrion Healthcare conducts worldwide marketing, sales, and distribution of biological medicines developed by Celltrion. Celltrion's founder, Seo Jung-jin, is the richest person in South Korea.

Allergan plc is an American, Irish-domiciled pharmaceutical company that acquires, develops, manufactures and markets brand name drugs and medical devices in the areas of medical aesthetics, eye care, central nervous system, and gastroenterology. The company is the maker of Botox.

Biotechnology in India is a sunrise sector within the Indian economy. Agencies of the Government of India concerned with the biotechnology industry include the Department of Biotechnology and the proposed Biotechnology Regulatory Authority of India. As of 2022, the sector is valued at $80 billion. Biotechnology in India is in a growth phase and the sector is expected to be valued at $150 billion by 2025 and surpass $300 billion in value by 2030.

Alvogen is an Icelandic pharmaceutical company founded in 2009. In 2014, a controlling stake in the company was acquired by CVC Capital Partners and Temasek Holdings. Alvogen has about 350 different medical and non-medical products, and both produces its own products and markets the products of brand name pharmaceutical companies.

Wilhelm Róbert Wessman is an Icelandic business executive and founder of the pharmaceutical and biotechnology companies Alvotech and Alvogen.

<span class="mw-page-title-main">Pharmaceutical Advertising Advisory Board</span> Canadian not-for-profit organization

The Pharmaceutical Advertising Advisory Board (PAAB) is a Canadian not-for-profit organization based in Pickering, Ontario. Acting as a pseudo-regulatory body, PAAB offers review and pre-clearance services recognized by Health Canada to pharmaceutical companies and marketing agencies who wish to advertise directly to consumers and/or healthcare professionals. It is financed on a fee-for-service basis.

References

  1. 1 2 3 "Intas Pharmaceuticals Limited". ICRA. Retrieved 4 December 2023.
  2. 1 2 Dandekar, Vikas; Barman, Arijit (7 October 2016). "Chudgars of Intas: A family that dreams big together". The Economic Times.
  3. ↑ Shrivastava, Bhuma (29 September 2007). "Intas Pharma may offload 10% to raise Rs200 cr from market". mint. Retrieved 9 February 2023.
  4. ↑ "Financials – Intas Pharmaceuticals Ltd". Intas Pharmaceuticals Ltd. Retrieved 1 January 2022.
  5. ↑ "Hasmukh Chudgar & family". Forbes. Retrieved 3 October 2021.
  6. 1 2 3 Dewan, Shamsher; Shah, Kinjal; Jain, Gaurav; Gupta, Vanshika (19 July 2021). "Intas Pharmaceuticals Limited: Long-term rating upgraded to [ICRA]AA+ (Stable); shortterm rating reaffirmed". ICRA Limited . Retrieved 3 October 2021.
  7. ↑ Sarkar, Pooja (10 July 2015). "Temasek pumps more than Rs4,600 crore into India in Q1". mint. Retrieved 3 October 2021.
  8. ↑ Chanchani, Madhav (2 June 2020). "ChrysCapital backs Intas again, buys 3%, valuation hits $4.3 billion". The Times of India. Retrieved 3 October 2021.
  9. ↑ Modi, Krunal; Sharma, Ranjan (11 March 2021). "Analyst Report - Intas Pharmaceuticals Limited, March 11, 2021" (PDF). CARE Ratings. Retrieved 3 October 2021.
  10. ↑ Unnithan, Chitra (18 June 2012). "Intas Pharmaceuticals: Intas Pharma merges group companies, subsidiaries". The Times of India. Retrieved 3 October 2021.
  11. ↑ Shetty, Sujay; Vishwakarma, Nisha. "Global pharma looks to India: Prospects for growth" (PDF). PricewaterhouseCoopers. p. 19. Retrieved 3 October 2021.
  12. ↑ "Intas mfg unit gets EU-GMP certification". The Economic Times . 13 June 2007. Retrieved 3 October 2021.
  13. ↑ Subbu, Ramnath (23 February 2015). "Intas Pharma launches biosimilar in Europe". The Hindu. ISSN   0971-751X . Retrieved 3 October 2021.
  14. ↑ "Intas Pharmaceuticals launches biosimilar in Europe". The Financial Express. 6 March 2015. Retrieved 3 October 2021.
  15. ↑ "Intas's Growth Driver : Biopharmaceuticals". NCK Pharma. 23 January 2015. Retrieved 3 October 2021.
  16. ↑ "Accord Healthcare Inc August 9, 2018". Pharmacy Times. 9 August 2018. Retrieved 3 October 2021.
  17. ↑ Dandekar, Vikas; Barman, Arijit (6 October 2016). "Intas buys Teva's UK & Ireland assets for $764 million to break into global top 20 generic players club". The Economic Times. Retrieved 8 May 2020.
  18. ↑ "Intas Pharmaceuticals Completes Deal to Acquire Actavis". Moneycontrol. Retrieved 8 May 2020.
  19. ↑ "Intas to acquire UK & Ireland generics businesses from Teva for £603 million". @businessline. Retrieved 4 July 2021.
  20. ↑ Babla, Shraddha. "Intas Pharma In No Hurry To List, Says MD Binish Chudgar". BloombergQuint. Retrieved 3 October 2021.
  21. ↑ Flora Southey (31 January 2018). "Intas puts the fizz back into ex-Sanofi plant with generic effervescents". Outsourcing-Pharma.com.
  22. ↑ "500 jobs to be created by Accord Healthcare at its new Fawdon Pharmaceutical Factory". Invest North East England. 25 January 2018. Retrieved 3 October 2021.
  23. ↑ Chandna, Himani (31 December 2020). "Mankind Pharma, Intas found selling diabetes drug 'without nod', to get show cause notice". ThePrint . Retrieved 3 October 2021.
  24. ↑ "Compliance Record: Intas Pharmaceuticals". Food and Drug Administration .
  25. ↑ Edney, Anna; Griffin, Riley (5 December 2023). "The Pentagon Wants to Root Out Shoddy Drugs. The FDA Is In Its Way". Bloomberg.com. Retrieved 5 December 2023.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.