With 2023's Largest Indian IPO, Mankind Listing Watched; GPCR-Based Candidate Enters Trials
Transplant, Oncology Divisions Planned
Scrip takes a look at what a listing of Mankind Pharma, which has thrice the revenues of Pfizer’s India unit and the fourth largest domestic pharma sales, would mean. A GPCR-based candidate against type-2 diabetes and obesity is in Phase I trials and a search on India’s trial registry reveals a study for an ayurvedic preparation against diabetes
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India had a busy deals calendar in 2022, with companies led by Biocon striking large M&A deals while PE activity declined. Scrip pieced together data for infographics on these deals. A multitude of factors is expected to keep the momentum going in 2023
Mankind Pharma has licensed Novartis’ heart failure therapy Entresto in India, executive chairman Ramesh Juneja tells Scrip. The privately-owned company has also acquired the generics business of Panacea in India and Nepal for over $255m.
As India revealed finer details of two schemes to promote bulk drug production, Mankind Pharma and Aarti Drugs spelled out a preference for chemical synthesis products - they are likely to be joined by more companies reluctant to invest in some that are fermentation-based. Whether a “plug and play” format for bulk drug parks will attract foreign investment remains to be seen.