Emcure Pharmaceuticals

Last updated

Emcure Pharmaceuticals Limited
Company type Public
Industry Pharmaceutical
Founded1981;43 years ago (1981) [1]
FounderSatish Mehta
Headquarters Hinjawadi, Pune, India
Area served
Worldwide
Key people
RevenueIncrease2.svg₹6,658 crore (US$800 million) (FY24) [4]
Increase2.svg₹1,276 crore (US$150 million) (FY24) [4]
Decrease2.svg₹527 crore (US$63 million) (FY24) [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 produces gynaecology, cardiovascular, oncology and blood therapeutic drugs, HIV antivirals and other anti-infectives, and vitamins and minerals. [5] [8]

Contents

History

Emcure Pharmaceuticals was established in 1981 by Satish Mehta, who began the company with a bank loan of ₹3 lakh (about US$35,000 then) after graduating from IIM-A. [9] In the 1990s, the company transitioned from being a contract manufacturing organization to a producer of generic drugs. [10]

In 2006, Emcure signed license agreements with Bristol-Myers Squibb for Atazanavir [11] and Gilead Sciences for Tenofovir as part of their Global Access Programs. [12]

In 2012, Roche signed a deal with Emcure for manufacturing its blockbuster anticancer drugs Herceptin and Mabthera in India. [13] Under this programme the cancer drugs shall be made available to the developing world at an affordable 'cut-price' version. [14]

In 2013, Emcure established a health foods venture in partnership with cricketer MS Dhoni, and Dhoni was signed up as Emcure's brand ambassador. [15]

In 2014, Blackstone sold its 13% stake in Emcure to Bain Capital. [16]

In 2021, Emcure demerged its US-based business, including subsidiary Heritage Pharmaceuticals, into a new company called Avet Lifesciences. [1]

In 2024, Emcure launched its initial public offering, and listed on NSE and BSE. [17]

Operations

Indian plants

This is the list of manufacturing facilities based in India: [18]

US plant

USA - The company has a manufacturing facility and R&D center in East Brunswick, New Jersey, USA. [18]

AIDS initiative

Emcure runs the "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.

Controversies and recalls

In 2016, two former executives of Heritage Pharmaceuticals, an erstwhile division of Emcure, were among multiple entities charged by the United States Department of Justice (DOJ) with price fixing an antibiotic and an antidiabetic drug. [22] In 2019, the company entered into a deferred prosecution agreement with the DOJ. Under the terms of the settlement, Heritage agreed to pay over $7 million in penalty to the DOJ's Civil Division. [23]

In 2022, HDT Bio Corp alleged that Emcure (through its subsidiary Gennova) stole the trade secrets of COVID-19 vaccine production in breach of its contract. [24] The lawsuit was dismissed in 2024. [25]

In 2016, the USFDA gave a warning letter to Emcure for data integrity problems at Emcure plants. [26]

In 2010, Pfizer recalled three batches of an anti-bacterial product from the US market due to presence of Bacillus anthracis, Penicillium chrysogenum & E. coli in some samples. [13] Teva recalled several batches of two products due to white tablets showing presence of Yersinia pestis in 2011. [27]

In 2022, Maharashtra FDA issued a circular to recall all the injections (500 mg /10 ml) manufactured by Emcure Pharmaceuticals, from across the country. [28]

In 2019, two injected drugs manufactured by Emcure were recalled because of microbial contamination. The drugs were both manufactured by Emcure Pharmaceuticals but were distributed in the US by Heritage Pharmaceuticals (now renamed Avet). [29]

Related Research Articles

An epinephrine autoinjector is a medical device for injecting a measured dose or doses of epinephrine (adrenaline) by means of autoinjector technology. It is most often used for the treatment of anaphylaxis. The first epinephrine autoinjector was brought to market in 1983.

Ranbaxy Laboratories Limited was an Indian multinational pharmaceutical company that was incorporated in India in 1961 and remained an entity until 2014. The company went public in 1973. Ownership of Ranbaxy changed twice over the course of its history.

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

Gilead Sciences, Inc. is an American biopharmaceutical company headquartered in Foster City, California, that focuses on researching and developing antiviral drugs used in the treatment of HIV/AIDS, hepatitis B, hepatitis C, influenza, and COVID-19, including ledipasvir/sofosbuvir and sofosbuvir. Gilead is a member of the Nasdaq-100 and the S&P 100.

Dr. Reddy's Laboratories is an Indian multinational pharmaceutical company based in Hyderabad. The company was founded by Kallam Anji Reddy, who previously worked in the mentor institute Indian Drugs and Pharmaceuticals Limited. Dr. Reddy manufactures and markets a wide range of pharmaceuticals in India and overseas. The company produces over 190 medications, 60 active pharmaceutical ingredients (APIs) for drug manufacture, diagnostic kits, critical care, and biotechnology.

Mylan N.V. was a global generic and specialty pharmaceuticals company. In November 2020, Mylan merged with Upjohn, Pfizer's off-patent medicine division, to form Viatris. Previously, the company was domiciled in the Netherlands, with principal executive offices in Hatfield, Hertfordshire, UK and a "Global Center" in Canonsburg, Pennsylvania, US.

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">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.

Torrent Pharmaceuticals Ltd is an Indian multinational pharmaceutical company, part of the Torrent Group and headquartered in Ahmedabad. It was promoted by U. N. Mehta, initially as Trinity Laboratories Ltd, and was later renamed Torrent Pharmaceuticals Ltd.

<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">Beximco Pharma</span> Pharmaceutical company in Bangladesh

Beximco Pharmaceuticals Ltd, also known as Beximco Pharma is a Bangladeshi multinational pharmaceutical company. It is a part of Bangladesh Export Import Company Limited (BEXIMCO).

A contract manufacturing organization (CMO), more recently referred to as a contract development and manufacturing organization (CDMO) to avoid the acronym confusion of Chief Medical Officer or Clinical Monitoring Organization in the pharma industry, is a company that serves other companies in the pharmaceutical industry on a contract basis to provide comprehensive services from drug development through drug manufacturing. This allows major pharmaceutical companies to outsource those aspects of the business, which can help with scalability or can allow the major company to focus on drug discovery and drug marketing instead.

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

Glenmark Pharmaceuticals Limited is an Indian multinational pharmaceutical company headquartered in Mumbai, India.

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

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

<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. 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">Taro Pharmaceuticals</span> Generic pharmaceutical company

Taro Pharmaceutical Industries is an Israeli research-based pharmaceutical manufacturer that was publicly listed in the New York Stock Exchange before it was acquired by Sun Pharma. The company has more than 180 of its own drugs sold all over the world, reaching the markets of over 25 countries. The company's products are mainly sold in the United States, Canada and Israel.

<span class="mw-page-title-main">Cadila Pharmaceuticals</span> Indian pharmaceutical company

Cadila Pharmaceuticals is an Indian multinational pharmaceutical company based in Ahmedabad. The company's operations focus on manufacturing products ranging from active pharmaceutical intermediates, finished formulations, food supplements, biotechnology products and pharmaceutical machinery.

Harrow Health, Inc., formerly known as Imprimis Pharmaceuticals, is a publicly traded pharmaceutical company based in Nashville, Tennessee.

Viatris Inc. is an American global pharmaceutical and healthcare corporation headquartered in Canonsburg, Pennsylvania. The corporation was formed through the merger of Mylan and Upjohn, a legacy division of Pfizer, on November 16, 2020.

Troikaa Pharmaceuticals is an Indian multinational pharmaceutical company headquartered in Ahmedabad city of Gujarat, India. It is a public unlisted company and is classified as company limited by shares.

Akums Drugs and Pharmaceuticals Limited is an Indian pharmaceutical Contract Development and Manufacturing Organization (CDMO) that serves both domestic and multinational pharmaceutical companies. The company was established in 2004 and became publicly listed on August 6, 2024.

References

  1. 1 2 "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 - RHP". sebi.gov.in. Retrieved 3 July 2024.
  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. ↑ "Emcure Pharmaceuticals Ltd". Bloomberg. Retrieved 28 June 2024.
  9. ↑ Thakur, Gaurav (28 October 2003). "A cure from Mr Mehta". The Times of India. Retrieved 3 July 2024.
  10. ↑ "Satish Mehta & family". Forbes. Retrieved 10 July 2024.
  11. ↑ Bureau, Our Corporate (17 February 2006). "Bristol-Myers outsources AIDS drug to Emcure". Business Standard India– via Business Standard.{{cite news}}: |last= has generic name (help)
  12. ↑ "Gilead Sciences in pact with drug trio". The Telegraph. 16 August 2006. Retrieved 27 June 2024.
  13. 1 2 "Business News Today: Read Latest Business news, India Business News Live, Share Market & Economy News". The Economic Times.
  14. ↑ "Roche to Sell Cheaper Cancer Drugs in India | Businessworld". Archived from the original on 1 August 2012. Retrieved 12 April 2012.
  15. ↑ Bhushan, Ratna (13 March 2013). "MS Dhoni to sell health drink, energy bars in partnership with Emcure Pharmaceuticals". The Economic Times. Retrieved 3 July 2024.
  16. ↑ "Blackstone to sell Emcure Pharmaceuticals stake to Bain Capital - Indian Express". archive.indianexpress.com.
  17. ↑ Podishetti, Akash (10 July 2024). "Emcure Pharma shares debut with 31% premium over issue price". The Economic Times. Retrieved 10 July 2024.
  18. 1 2 "Manufacturing | Emcure Pharmaceuticals". Emcure. Retrieved 23 August 2021.
  19. ↑
  20. ↑
  21. ↑
  22. ↑ "2 ex-executives of Emcure's US arm accused of price fixing". Business Standard. Retrieved 27 June 2024.
  23. ↑ "Pharmaceutical Company Admits to Price Fixing in Violation of Antitrust Law, Resolves Related False Claims Act Violations". www.justice.gov. 31 May 2019.
  24. ↑ Brittain, Blake (22 March 2022). "Lawsuit says India's Emcure stole COVID-19 vaccine secrets for IPO". Reuters.
  25. ↑ Pilla, Viswanath (23 May 2024). "Emcure and its subsidiary Gennova settle legal dispute with HDT Bio over mRNA technology". The Economic Times. Retrieved 27 June 2024.
  26. ↑ "FDA Warns Indian Pharma Company Over Repeat Data Manipulation Violations". raps.org. Retrieved 27 June 2024.
  27. ↑ "March 2011". Archived from the original on 20 May 2011. Retrieved 25 April 2012.
  28. ↑ "FDA recalls Orofer FCM after Saifee patient's death". Hindustan Times. Retrieved 27 June 2024.
  29. ↑ FDA asks Emcure to recall contaminated injectable drugs
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.