Emcure Pharmaceuticals

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Emcure Pharmaceuticals Limited
Company type Private
Industry Pharmaceutical
Founded1981;43 years ago (1981) [1]
FounderSatish Mehta
Headquarters Hinjawadi, Pune, India
Area served
Worldwide
Key people
RevenueIncrease2.svg₹5,812 crore (US$730 million) (FY22) [4]
Increase2.svg₹1,287 crore (US$160 million) (FY22) [4]
Increase2.svg₹702 crore (US$88 million) (FY22) [4]
Number of employees
11,000 (January 2022) [5]
Website emcure.com

Emcure Pharmaceuticals Limited is an Indian multinational pharmaceutical company headquartered in Pune. Emcure's product portfolio includes tablets, capsules (both softgel capsules and hard-gel capsules) and injectables. [6] [7] The company is a major producer of HIV antivirals, as well as gynaecology and blood therapeutic drugs. [5]

Contents

Operations

Indian plants

This is the list of manufacturing facilities based in India [8] -

US plant

USA - The company has a manufacturing facility and R&D center in East Brunswick, New Jersey, USA. [8]

Investors

In 2014, Blackstone sold its 13% stake in Emcure to Bain Capital. [9]

AIDS initiative

Emcure voices its concerns on HIV/AIDS through its "Let's fight AIDS together" initiative and supplies Antiretroviral drugs to Africa, Asia Pacific and CIS. As a part of its corporate social responsibility it supports 'Taal', a pharmacy for HIV/AIDS patients run by HIV/AIDS patients.

Emcure has license agreements with Bristol-Myers Squibb for Atazanavir [10] and Gilead Sciences for Tenofovir as part of their Global Access Programs.

Anticancer portfolio

Roche has signed a deal with Emcure for manufacturing its blockbuster anticancer drugs Herceptin and Mabthera in India. [11] Under this programme the cancer drugs shall be made available to the developing world at an affordable 'cut-price' version. [12]

Price fixing

Heritage Pharmaceuticals, a former division of Emcure, entered into a deferred prosecution agreement [13] with the United States Department of Justice, Antitrust Division ("DOJ") relating to a one-count Information for a conspiracy involving glyburide. In conjunction with the DPA, Heritage agreed to pay a $225,000 fine. The DPA expired on May 30, 2022, and the United States District Court for the Eastern District of Pennsylvania dismissed with prejudice the one-count Information filed by the DOJ against Heritage on June 30, 2022.

In addition, Heritage separately agreed to a settlement with the United States Department of Justice, Civil Division to resolve potential civil liability under the False Claims Act in connection with the antitrust conduct. Under the terms of the settlement, Heritage agreed to pay $7.1 million to the DOJ's Civil Division.

Controversies and recalls

There are allegations that Emcure (through its sister company Gennova) stole the technology of vaccine production by breaching contract with HDT Bio. [14] Earlier Emcure broke ties with Roche in similar way. [15]

The USFDA had given Warning Letter for data integrity manipulation problems at Emcure plants. [16]

In 2010, Pfizer had to recall three batches of an anti-bacterial product from the US market due to presence of Bacillus anthracis, Penicillium chrysogenum & E. coli in some samples. [11] Teva recalled several batches of two products due to white tablets showing presence of Yersinia pestis in 2011. [17]

Even in the domestic market, Maharashtra FDA issued a circular to recall all the injections (500 mg /10 ml) manufactured by Emcure Pharmaceuticals Ltd, from across the country. [18]

Two injected drugs manufactured by Emcure, with a history of sterility problems were recalled because of microbial contamination. The drugs were both manufactured by Emcure Pharmaceuticals but were distributed in the U.S. by Heritage Pharmaceuticals (now renamed Avet). [19]

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References

  1. ↑ "Emcure Pharmaceuticals Limited". CRISIL. Retrieved 3 January 2023.
  2. ↑ "Emcure Pharma inducts 4 independent directors". The Hindu. 27 July 2021. Retrieved 7 February 2023.
  3. ↑ "Shark Tank India Season 2: New shark joins the gang". Mint. 1 November 2022. Retrieved 2 November 2022.
  4. 1 2 3 "Emcure Pharmaceuticals Limited" (PDF). CARE Ratings. 6 January 2023. Retrieved 6 January 2023.
  5. 1 2 "Emcure Pharma's Rs 5,000-crore IPO to hit market early next month". Business Standard. 20 January 2022. Retrieved 3 January 2023.
  6. ↑ "Emcure Pharmaceuticals | Leading Global Pharmaceutical Company". Emcure. Retrieved 23 August 2021.
  7. ↑ "Emcure Pharmaceuticals". The Economic Times. Retrieved 23 August 2021.
  8. 1 2 "Manufacturing | Emcure Pharmaceuticals". Emcure. Retrieved 23 August 2021.
  9. ↑ "Blackstone to sell Emcure Pharmaceuticals stake to Bain Capital - Indian Express". archive.indianexpress.com.
  10. ↑ Bureau, Our Corporate (17 February 2006). "Bristol-Myers outsources AIDS drug to Emcure". Business Standard India– via Business Standard.
  11. 1 2 "Business News Today: Read Latest Business news, India Business News Live, Share Market & Economy News". The Economic Times.
  12. ↑ "Roche to Sell Cheaper Cancer Drugs in India | Businessworld". Archived from the original on 1 August 2012. Retrieved 12 April 2012.
  13. ↑ "Pharmaceutical Company Admits to Price Fixing in Violation of Antitrust Law, Resolves Related False Claims Act Violations". www.justice.gov. 31 May 2019.
  14. ↑ Brittain, Blake (22 March 2022). "Lawsuit says India's Emcure stole COVID-19 vaccine secrets for IPO". Reuters.
  15. ↑ "Roche, Emcure may end pact to make 2 blockbuster drugs". The Economic Times.
  16. ↑ Warning letter by USFDA - Data Integrity manipulation problem
  17. ↑ "March 2011". Archived from the original on 20 May 2011. Retrieved 25 April 2012.
  18. ↑ Orofer death
  19. ↑ FDA asks Emcure to recall contaminated injectable drugs
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