In the essential realm of healthcare, the pharmaceutical industry stands as a beacon of progress, vital for global well-being and economic prosperity. Pharmaceutical companies, operating at the intersection of innovation and responsibility, are closely inspected to guarantee the manufacturing of high-quality medications.
Governments, realizing how vital health is, keep a close eye on pharmaceutical activities to ensure that standards are maintained. Technology has made it possible for businesses like Emcure Pharmaceuticals to investigate a variety of drugs. Emcure is a prominent multinational company that specializes in producing tablets, capsules, and injectables. The company is dedicated to improving healthcare by using innovative approaches and searching for novel medications. Emcure Pharmaceuticals Limited is ranked as the 11th largest company in the Indian Pharmaceutical Market as per AWACS MAT Feb’24 data.
In this article, we will delve into the successful journey of Emcure Pharmaceuticals’ founder, business model, funding, competitors, IPO, and more.
Company Highlights
- Startup Name: EMCURE PHARMACEUTICALS
- Headquarters: Pune, Maharashtra, India
- Sector: Pharmaceuticals
- Founders: Satish Ramlal Mehta
- Founded: 1981
- Revenue: INR 6,658 crore (FY24)
- Website: emcure.com
About Emcure Pharmaceuticals
Established in 1981, Emcure Pharmaceuticals has become a prominent participant in the Indian pharmaceutical industry, acknowledged worldwide for its wide array of offerings. Emcure, which is well-established in more than 70 countries, focuses on important therapeutic domains like HIV, gynecology, cardiology, cancer, respiratory, and central nervous system.
Six biologics have been launched by the business in both the domestic and Rest of the World (RoW) markets. During the COVID-19 pandemic, Emcure Pharma demonstrated its agility by founding Gennova, a subsidiary that spearheaded the creation of India’s first-ever indigenous mRNA vaccine. This demonstrates Emcure’s dedication to innovation and meeting pressing healthcare needs around the world. The turnover of the company for FY24 is INR 6658 crore.
Subsidiaries
Emcure Pharmaceuticals has a range of subsidiaries that expand its global footprint:
- Gennova Biopharmaceuticals Ltd.
- Zuventus Healthcare Ltd
- Emcure Nigeria Limited
- Emcure Pharmaceuticals Mena FZ-LLC
- Emcure Pharmaceuticals South Africa (Pty) Limited
- Emcure Brasil Farmaceutica Ltda
- Heritage Pharma Holdings Inc. d/b/a Avet Pharmaceuticals Holdings Inc.
- Emcure Pharma UK Ltd
- Emcure Pharma Peru S.A.C
- Emcure Pharma Mexico S.A. DE C.V
- Marcan Pharmaceuticals Inc
- Emcure Pharmaceuticals Pty Ltd
Industry Overview
According to a Statista analysis, the pharmaceuticals market is expected to increase at a compound annual growth rate (CAGR) of 6.33% from 2024 to 2028. By 2028, the market volume is predicted to reach US $15.93 billion based on this trajectory.
With a predicted volume of US $2.02 billion in 2024, Oncology Drugs continues to be the leading market sector in this dynamic landscape. The strong revenue growth is indicative of the pharmaceutical industry’s overall resiliency and evolution in meeting a range of healthcare demands, as well as the growing emphasis on oncology therapies.
Founders and Team
Satish Ramanlal Mehta
- Founder, CEO, and Managing Director
- A postgraduate in Chemistry from Pune University and has a diploma in management from IIM Ahmedabad.
- Led Emcure to achieve global recognition, operating in over 70 countries.
- Ranked on the Forbes Rich List as the 82nd richest Indian in 2016 with a net worth of $1.6 billion in 2018.
Namita Thapar
- Executive Director
- Chartered Accountant from the Institute of Chartered Accountants of India.
- MBA from Duke University – The Fuqua School of Business.
- Former CFO of Emcure Pharmaceuticals and prominent investor on Shark Tank India.
Sunil Mehta
- Executive Director
- Graduate of Commerce from Pune University.
- Postgraduate in Business Administration from the Institute of Management Development and Research, Pune.
The company has over 10,000 employees.
Startup Story
Emcure Pharmaceuticals was founded in Pune, Maharashtra, India by Mr. Satish Mehta, a visionary leader. With a postgraduate credential from IIM-A, Satish immersed himself in his father’s pharmaceutical company to obtain knowledge of the nuances of the pharma sector. Driven by a vision for innovation and the desire to make a distinct mark, he secured a bank loan and embarked on the entrepreneurial journey that led to the inception of Emcure Pharmaceuticals.
Mission and Vision
- Mission: “To constantly innovate and deliver affordable & high-quality healthcare solutions to people.”
- Vision: “To provide quality healthcare solutions globally by leveraging our scientific strengths.”
Name, Tagline, and Logo
- Tagline: “Cure and beyond.”
Business Model
Emcure Pharmaceuticals has strategically crafted a focused go-to-market business model that capitalizes on a blend of front-end presence, partnerships, and a distributor model. With this approach, the company leverages its broad and diverse product line to target various market dynamics effectively.
Revenue Model
Emcure Pharmaceuticals’ revenue channels emphasize a strategic balance between emerging, domestic, and international markets, ensuring a diversified and resilient profile with a robust international footprint. For FY2023, below is the revenue generated from various markets:
- 46% of revenue came from the domestic market
- 16% from emerging markets
- 30% from regulated markets of Canada and Europe, and the rest from other segments including contract manufacturing for Avet.
Challenges Faced
As the pharmaceutical industry continued to grow and more distinct product options were available, Emcure Pharmaceuticals faced several obstacles:
- Increased rivalry from other pharmaceutical firms.
- The changing nature of worldwide pharmaceuticals and the rules that accompany them.
- Challenges presented by the COVID-19 pandemic, especially with its efforts to create COVID-19 vaccinations.
Funding and Investors
Emcure Pharmaceuticals raised around $50 million (INR 310.60 crore) in 2006 from Blackstone. This infusion of capital fortified Emcure’s standing in the pharmaceutical sector and empowered the company to expand its operations and propel its research and development initiatives to new heights.
Growth
Emcure Pharmaceuticals is a leader in the development, production, and international marketing of a wide range of pharmaceutical products covering several essential therapeutic areas. Some of the growth highlights of Emcure Pharmaceuticals are:
- Presence in 70+ countries as of July 2024.
- 350+ brands in India as of July 2024.
- 5 R&D centers as of July 2024.
- 13 manufacturing facilities as of July 2024.
- 22 subsidiaries as of July 2024.
- R&D team of over 500 scientists as of July 2024.
Financials
- Operating Revenue (FY23): Rs 5,986 crore
- EBITDA: 19.7%
- Net Profit: Rs 561.8 crore
IPO
Emcure Pharmaceuticals shares made a strong debut on July 10, 2024, listing at INR 1,325.05, a 31.5% premium over the issue price of INR 1,008. This impressive debut followed a successful Initial Public Offering (IPO) that attracted significant investor interest. Emcure’s IPO, which took place from July 3 to July 5, was a book-built issue valued at INR 1,952.03 crores.
Marketing and Campaigns
Emcure Pharmaceuticals has launched its new corporate campaign, “Cure and Beyond,” featuring cricketer MS Dhoni. The campaign highlights innovation as key to Emcure’s operations and aims to establish thought leadership in the Indian pharmaceutical market. The ad is showcased across digital, television, and print media.
Awards and Achievements
Emcure Pharmaceuticals has earned multiple awards, affirming its excellence and leadership in the pharmaceutical industry:
- 2018: Best New Introduction of the Year Silver Award by AWACS, Brand of the Year award for Marketing Excellence – Gold Award by AWACS.
- 2019: Brand of the Year award for Marketing Excellence -Bronze Award by AWACS, Best API Patents Award by the Indian Drug Manufacturers Association.
- 2020: Pronto Consult Consumer Award – Platinum Impact Award Vylda.
- 2021: Exafib – CIMS Medica Healthcare Excellence Award, Most Engaging Scientific Platform from Pharma Company.
- 2022: Silver Impact Award at Pronto Consult Award for Vylda, 1st runner up at the AWACS Pharmarack Awards for New Introduction of the Year above 2,000 crores – Chronic for Dydrofem.
Competitors
Emcure Pharmaceuticals competes with the following companies:
- Sun Pharma
- Abbott India
- Dr. Reddy’s Laboratories
- Biocon Limited
- Cipla
- Torrent Pharmaceuticals
- Alkem Laboratories
- Intas Pharmaceuticals
- Natco Pharma
- Amneal Pharmaceuticals
- Supriya Lifescience
Future Plans
The company is well-positioned to take advantage of favorable conditions for its public market debut after the launch of its IPO. The company’s resubmission is consistent with its forward-thinking strategy and shows its dedication to flexibility and wise decision-making when pursuing strategic expansion prospects. Emcure Pharmaceuticals aims to continue its growth trajectory by focusing on innovation, quality, and expanding its global footprint.
Conclusion
Emcure Pharmaceuticals
, as India’s 11th largest pharmaceutical company, exemplifies innovation, resilience, and strategic growth in the global pharmaceutical industry. With a robust portfolio, significant global presence, and a commitment to quality healthcare, Emcure is poised to continue its trajectory of success and impact in the healthcare sector.