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Mankind Pharma

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Mankind Pharma Limited
Company typePublic
ISININE634S01028
IndustryPharmaceutical
Founded1991; 33 years ago (1991)
Founders
Headquarters
Okhla Phase III, Delhi
,
India[2]
Area served
Worldwide
Key people
  • Ramesh Juneja (Chairman)
  • Rajeev Juneja (MD & Vice Chairman)
  • Sheetal Arora (CEO)
  • Arjun Juneja (COO)
Products
RevenueIncrease ₹10,335 crore (US$1.2 billion) (FY24)[3]
Increase ₹2,550 crore (US$310 million) (FY24)[3]
Increase ₹1,942 crore (US$230 million) (FY24)[3]
Number of employees
22,000+ (2023)[4]
Websitewww.mankindpharma.com Edit this at Wikidata

Mankind Pharma is an Indian multinational pharmaceutical and healthcare product company, headquartered in Delhi. The company has products in therapeutic areas ranging from antibiotics, to gastrointestinal, cardiovascular, dermal, and erectile dysfunction medications.[5][6][7]

As of 2023, Mankind Pharma had 25 factories and 6 R&D centres in India.[8] The company derived 97% of its operating revenue from the Indian market,[9] where it is reportedly the fourth largest pharmaceutical company by domestic sales.[8] Some of Mankind Pharma's consumer healthcare brands are the largest-selling in their respective categories, including Manforce in condoms,[10] Prega News in pregnancy test kits,[11] and Unwanted-72 in emergency contraception.[12]

History

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Mankind Pharma was incorporated in 1991, and actively started its operations in 1995, with the contributions of two brothers, Ramesh C. Juneja and Rajeev Juneja, who established the company with a seed capital of ₹5,000,000.[13][14] The company was started with 20 employees and launched in two states in the first year of its operation.[15][16]

Mankind Pharma initially targeted price-sensitive drugs, with a focus on rural market;[17] its early products included antibacterial drug Zenflox and prescription antibiotic Moxikind CV, which were priced at a steep discount to the existing products in the market.[18] The company ventured into the over-the-counter segment in 2007, focusing primarily on sexual healthcare products.[19][20]

Prega News livery on a SpiceJet aircraft.

The company acquired Magnet Labs Pvt. Ltd. to enter the antipsychotic segment in 2007.[21] It acquired Longifene-an appetite stimulant for children in January 2010 which was earlier a brand of UCB.[22]

In 2017, Mankind Pharma established Pathkind Labs, a provider of diagnostics and healthcare tests.[23]

In 2019, Mankind became the first Indian company and second only in the world to develop and launch Dydrogesterone, a drug used in high-risk pregnancies and infertility by the brand name Dydroboon.[24]

In 2022, Mankind acquired Panacea Biotec Pharma's domestic formulations brands in India and Nepal for ₹1,872 crore (US$220 million).[25] It then acquired a respiratory treatment product, and an infant skincare brand from Dr. Reddy's Laboratories.[26] It also bought a majority stake in the Ayurvedic and herbal products manufacturer, Upakarma Ayurveda.[27]

In 2022, the company entered agritech[28] and pet care segments.[29]

In April 2023, Mankind Pharma launched its initial public offering (IPO), with existing investors selling ₹4,326 crore (US$520 million) worth of shares.[30]

In 2024, Mankind Pharma acquired a 100% stake in Bharat Serums and Vaccines (BSV) from private equity firm Advent International for an enterprise value of ₹13,630 crore (US$1.6 billion).[31] The deal included over 2,500 employees joining the company. Mankind also aimed to raise up to ₹10,000 crore through non-convertible debentures to support its growth initiatives.[31]

As per Forbes list of India’s 100 richest tycoons, dated 9 October 2024, Ramesh and Rajeev Juneja & family are ranked 42nd with a net worth of $7 billion.[32]

See also

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References

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  1. ^ Bhalla, Mohit; Rajagopal, Divya. "Mankind Pharma: The story of Juneja siblings, the biggest disruptors in Indian pharma space". The Economic Times. Retrieved 21 December 2022.
  2. ^ Singh, Khomba. "Mankind Pharma's pocket-friendly pricing in demand". The Economic Times. Retrieved 21 December 2022.
  3. ^ a b c "Investor Presentation Q4FY24" (PDF). Mankind Pharma. Retrieved 15 May 2024.
  4. ^ "Mankind Pharma Forays Into Critical Care Segment". Outlook India. Retrieved 12 April 2023.
  5. ^ "India's Mankind Pharma wants deals, sees FY domestic sales topping $700 mln". Reuters. 10 April 2015. Retrieved 21 March 2023.
  6. ^ Raturi, Prerna (11 February 2012). "For a robust business". Business Standard. Archived from the original on 27 April 2012. Retrieved 7 May 2023.
  7. ^ Singh, Raveena (20 March 2023). "At $6-7B, Mankind Pharma eyes Torrent's valuation. But its catch lies in Eris & Gland IPOs". The Ken. Retrieved 21 March 2023.
  8. ^ a b Raghunathan, Anu (11 October 2023). "Mankind Pharma's Founders Map Growth Plan After Pulling Off Major IPO". Forbes. Retrieved 4 December 2023.
  9. ^ "India's biggest condom maker lifts dreary IPO market". Financial Times. 27 April 2023. Retrieved 4 December 2023.
  10. ^ Tandon, Suneera (18 February 2022). "Durex becomes second-largest condom brand in India: Reckitt". Mint. Retrieved 22 November 2022.
  11. ^ "Behind Mankind's plans to take Prega News to rural markets". Moneycontrol. Retrieved 22 November 2022.
  12. ^ "Mankind Pharma Ltd" (PDF). Geojit. Retrieved 24 April 2023.
  13. ^ Hussain, Shabana (8 May 2014). "Mankind Pharma: Formulating Strategy To Enter The Big League". Retrieved 27 June 2018.
  14. ^ "Mankind Pharma set to tap core drugs market". Business Standard. 19 July 2012. Archived from the original on 6 October 2014. Retrieved 26 April 2023.
  15. ^ "A Giant Leap For Mankind". Business Outlook India. 24 December 2011. Archived from the original on 29 June 2012. Retrieved 5 February 2013.
  16. ^ "Testing Times For Mankind Pharma". Businessworld. Retrieved 26 April 2023.
  17. ^ Rajagopal, Divya (13 June 2012). "How Ramesh Juneja's Mankind Pharma has changed pharma game with pulp marketing". The Economic Times. Retrieved 1 March 2023.
  18. ^ "Mankind vs Goliaths". Business Standard. 3 November 2009. Retrieved 26 April 2023.
  19. ^ Singh, Khomba (3 March 2007). "Mankind forays into OTC market". The Economic Times. Retrieved 27 April 2023.
  20. ^ Singh, Rajiv (26 March 2014). "Mankind Pharma: Do products revolving around sex help the Rs 3000 cr company?". The Economic Times. Retrieved 26 April 2023.
  21. ^ "Acquisition of Magnet Labs" (PDF). The International Journal of Business Management and Technology. ISSN 2581-3889.[permanent dead link‍]
  22. ^ Mankind Pharma markets Longifene- 29 August 2011
  23. ^ "Mankind Pharma forays into diagnostics". The Times of India. 31 March 2017. Retrieved 26 April 2023.
  24. ^ "Mankind Pharma launches drug for the treatment of infertility in India". The Economic Times. Retrieved 22 November 2022.
  25. ^ "Mankind Pharma acquires Panacea's domestic formulation brands for Rs 1,872 cr". Business Today. 1 March 2022. Retrieved 22 November 2022.
  26. ^ "Mankind Pharma acquires two derma and respiratory brands from Dr. Reddy's". Business Standard. Retrieved 22 November 2022.
  27. ^ Mahtta, Priyal (28 November 2022). "Mankind Pharma acquires majority stake in Upakarma Ayurveda". mint. Retrieved 3 December 2022.
  28. ^ "Mankind Pharma forays into agri-tech space, plans to invest Rs 200 crore". Business Standard. 5 April 2022. Retrieved 1 March 2023.
  29. ^ Pilla, Viswanath (21 December 2022). "Mankind Pharma enters pet care segment with launch PetStar brand". The Economic Times. Retrieved 1 March 2023.
  30. ^ Prabhakar, Sai (22 April 2023). "Mankind Pharma IPO: Why it's a promising prescription". The Hindu Businessline. Retrieved 26 April 2023.
  31. ^ a b Das, Sohini (26 July 2024). "Mankind Pharma acquires Bharat Serums and Vaccines for Rs 13,600 crore". Business Standard. Retrieved 9 August 2024.
  32. ^ "India's 100 Richest". India’s 100 Richest. 9 October 2024.
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