Ajay Kumar at 10:00, 7 March 2022

2022-03-07T10:00:38Z

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{{Short description|Indian multinational pharmaceutical company}}
{{Use dmy dates|date=October 2021}}
{{Use Indian English|date=October 2021}}
{{Infobox company
| name = Intas Pharmaceuticals
| logo =
| logo_caption =
| image = Intas Biopharmacueticals.jpg
| image_caption = Headquarters of Intas Pharmaceuticals
| type = [[Private company|Private]]
| foundation = {{Start date and age|1977}}
| founder = Hasmukh Chudgar
| key_people = Binish Chudgar {{small|(Vice Chairman and Joint Managing Director)}} Nimish Chudgar {{small|(Joint Managing Director and CEO)}} Urmish Chudgarr {{small|(Joint Managing Director)}}
| location = [[Ahmedabad]], [[Gujarat]]
| hq_location_country = India
| industry = [[Pharmaceuticals]], [[Biopharmaceuticals]]
| area_served = Worldwide
| products = Neukine (GCSF) Erykine (EPO) Intalfa (IFN) Pegasta (Peg GCSF) Terifrac (Teriparatide) Mabtas (Rituximab) Folisurge (FSH)
| revenue = {{up}} {{USD}}1.88 billion (FY 2019)<ref name="fy19"/>
| net_income = {{up}} {{USD}}204 million (FY 2019)<ref name="fy19">{{cite news |title=Financials – Intas Pharmaceuticals Ltd. |url=https://www.intaspharma.com/financials/ |access-date=1 January 2022 |work=Intas Pharmaceuticals Ltd.}}</ref>
| num_employees = 8000+
| num_employees_year = 2021
| homepage = {{URL|https://www.intaspharma.com/}}
}}
'''Intas Pharmaceuticals Limited''' is an Indian [[pharmaceutical industry|pharmaceutical company]] headquartered in [[Ahmedabad]], [[Gujarat]].<ref name=dreams>{{Cite news|last=Dandekar|first=Vikas|last2=Barman|first2=Arijit|title=Chudgars of Intas: A family that dreams big together|work=The Economic Times|url=https://economictimes.indiatimes.com/news/company/corporate-trends/chudgars-of-intas-a-family-that-dreams-big-together/articleshow/54725284.cms|date=7 October 2016}}</ref>

==History==
The company was founded by Hasmukh Chudgar in 1977<ref>{{Cite web|title=Hasmukh Chudgar & family|url=https://www.forbes.com/profile/hasmukh-chudgar/|access-date=2021-10-03|website=Forbes|language=en}}</ref> and was incorporated in 1985.<ref name=":0">{{Cite web|last=Dewan|first=Shamsher|last2=Shah|first2=Kinjal|last3=Jain|first3=Gaurav|last4=Gupta|first4=Vanshika|date=19 July 2021|title=Intas Pharmaceuticals Limited: Long-term rating upgraded to [ICRA]AA+ (Stable); shortterm rating reaffirmed|url=https://www.icra.in/Rationale/ShowRationaleReport/?Id=104712|url-status=live|access-date=3 October 2021|website=[[ICRA Limited]]}}</ref>

In 2013, ChrysCapital acquired 16.14% stake in the company, and in 2015, ChrysCapital subsequently sold 10.13% to [[Singapore]]-based [[Temasek Holdings]]<ref>{{Cite web|last=Sarkar|first=Pooja|date=2015-07-10|title=Temasek pumps more than Rs4,600 crore into India in Q1|url=https://www.livemint.com/Companies/ZpDUEtOhCmp74zpVsqyqqO/Temasek-pumps-in-more-than-Rs4600-crore-into-India-in-Q1.html|access-date=2021-10-03|website=mint|language=en}}</ref> and in 2017, it further diluted 3.01% stake to Capital International. Though, by May 2020, ChrysCapital bought back Capital International's stake.<ref>{{Cite news|first=Madhav|last=Chanchani|date=2 June 2020|title=ChrysCapital backs Intas again, buys 3%, valuation hits $4.3 billion|url=https://timesofindia.indiatimes.com/business/india-business/chryscapital-backs-intas-again-buys-3-valuation-hits-4-3bn/articleshow/76144201.cms|access-date=2021-10-03|newspaper=The Times of India|language=en}}</ref> Currently, the Chudgar family, owns 83.85% stake in the company, with 10.13% being held by Temasek Holdings, and 6.02% by ChrysCapital.<ref name=":0" />

As of March 2021, the company is operating 19 manufacturing facilities globally - 13 in [[India]], 5 in the [[UK]], and 1 in [[Mexico]].<ref name=":0" /> The company has setup a new manufacturing facility in PHARMEZ ([[Bavla]], near [[Ahmedabad]]) with capacity to manufacture and export more than 1 billion solid dosages and 5 million [[injectables]].<ref>{{Cite web|last=Modi|first=Krunal|last2=Sharma|first2=Ranjan|date=11 March 2021|title=Analyst Report - Intas Pharmaceuticals Limited, March 11, 2021|url=https://www.careratings.com/upload/CompanyFiles/PR/11032021071654_Intas_Pharmaceuticals_Limited.pdf|url-status=live|access-date=2021-10-03|website=CARE Ratings}}</ref>

== Divisions ==
=== Biologics Unit (formerly, Intas Biopharmaceuticals) ===
In 2006, an independent biotechnology division of Intas Pharmaceuticals was incorporated as Intas Biopharmaceuticals by Urmish Chudgar, a [[hematologist]]. Later in 2012-13, the subsidiary was merged with the parent company Intas Pharmaceuticals Limited.<ref>{{Cite news|first=Chitra|last=Unnithan|date=18 June 2012|title=Intas Pharmaceuticals: Intas Pharma merges group companies, subsidiaries|url=https://timesofindia.indiatimes.com/city/ahmedabad/intas-pharma-merges-group-companies-subsidiaries/articleshow/14226717.cms|access-date=2021-10-03|newspaper=The Times of India|language=en}}</ref> This division is involved in development and manufacturing of [[biosimilar]] products based on [[recombinant DNA]] and [[monoclonal antibodies]].<ref>{{Cite web|last=Shetty|first=Sujay|last2=Vishwakarma|first2=Nisha|title=Global pharma looks to India: Prospects for growth|url=https://www.pwc.com/gx/en/pharma-life-sciences/pdf/global-pharma-looks-to-india-final.pdf|url-status=live|access-date=2021-10-03|publisher=[[PricewaterhouseCoopers]]|page=19}}</ref>

The company faced an EU-GMP ([[Good Manufacturing Practice]]) audit in December 2006, to seek approval for a clinical trial of its [[biosimilar]] [[Filgrastim]] in Europe and was certified as EU-GMP compliant in April 2007, becoming the first company in India to receive such certification.<ref>{{Cite news|date=13 June 2007|title=Intas mfg unit gets EU-GMP certification|work=[[The Economic Times]]|url=https://economictimes.indiatimes.com/industry/healthcare/biotech/intas-mfg-unit-gets-eu-gmp-certification/articleshow/2118921.cms?from=mdr|access-date=2021-10-03}}</ref> In 2015, the company launched its first biosimilar product, Filgrastim in Europe, to treat patients with advanced [[HIV infection]] and immune system disorders such as [[neutropenia]].<ref>{{Cite news|last=Subbu|first=Ramnath|date=2015-02-23|title=Intas Pharma launches biosimilar in Europe|language=en-IN|work=The Hindu|url=https://www.thehindu.com/business/Industry/intas-pharma-launches-biosimilar-in-europe/article6925941.ece|access-date=2021-10-03|issn=0971-751X}}</ref><ref>{{Cite web|date=2015-03-06|title=Intas Pharmaceuticals launches biosimilar in Europe|url=https://www.financialexpress.com/india-news/intas-pharmaceuticals-launches-biosimilar-in-europe-2/50917/|access-date=2021-10-03|website=The Financial Express|language=en-US}}</ref>

Apart from EU-GMP certification, the company has approvals from MCC [[South Africa]], [[Gulf Cooperation Council]] (GCC), [[Syria]], [[Yemen]], [[Belarus]] and several other national health authorities for its manufacturing facility and products.<ref>{{Cite web|date=2015-01-23|title=Intas's Growth Driver : Biopharmaceuticals|url=https://nckpharma.com/intas-growth-driver-biopharmaceuticals/|url-status=live|access-date=2021-10-03|website=NCK Pharma|language=en-US}}</ref>

==Subsidiaries==
===Accord Healthcare===
[[London]]-headquartered Accord Healthcare is a fully-owned subsidiary of Intas Pharmaceuticals, which deals with large-scale generic pharmaceuticals in Europe and North America markets. It also manages an American [[R&D]] unit which is located at [[Research Triangle Park]], [[Durham,_North_Carolina|Durham]]. As of 2018, the company has approval for 89 [[Abbreviated New Drug Application|Abbreviated New Drug Applications]] and is selling 255 dosing presentations.<ref>{{Cite web|date=9 August 2018|title=Accord Healthcare Inc August 9, 2018|url=https://www.pharmacytimes.com/view/accord-healthcare-inc|url-status=live|access-date=2021-10-03|website=Pharmacy Times}}</ref>

== Acquisitions ==
===Teva Pharmaceuticals (UK & Ireland) ===
In 2016, Intas acquired the assets of [[Teva Pharmaceuticals]] in the [[United Kingdom|UK]] and [[Ireland]] for [[US$]]764 million.<ref>{{Cite news|last=Dandekar|first=Vikas|last2=Barman|first2=Arijit|date=2016-10-06|title=Intas buys Teva's UK & Ireland assets for $764 million to break into global top 20 generic players club|work=The Economic Times|url=https://economictimes.indiatimes.com/industry/healthcare/biotech/pharmaceuticals/intas-buys-tevas-uk-ireland-assets-for-764-million-to-break-into-global-top-20-generic-players-club/articleshow/54696609.cms?from=mdr|access-date=2020-05-08}}</ref><ref name=dreams/>

=== Actavis (UK & Ireland) ===
In 2017, the company's Accord Healthcare announced acquisition of [[Actavis|Actavis UK Ltd.]] and [[Actavis|Actavis Ireland Ltd]] from [[Teva Pharmaceuticals|Teva Pharmaceutical Industries]], for an enterprise value of [[Pound sterling|£]]603 million.<ref>{{Cite web|title=Intas Pharmaceuticals Completes Deal to Acquire Actavis|url=https://www.moneycontrol.com/news/business/companies/intas-pharmaceuticals-completes-deal-to-acquire-actavis-941493.html|access-date=2020-05-08|website=Moneycontrol}}</ref><ref>{{Cite web|title=Intas to acquire UK & Ireland generics businesses from Teva for £603 million|url=https://www.thehindubusinessline.com/companies/intas-to-acquire-uk-amp-ireland-generics-businesses-from-teva-for-603-million/article21712880.ece|access-date=2021-07-04|website=@businessline|language=en}}</ref> The deal included a portfolio of generic medicines and a manufacturing plant in [[Barnstaple]].<ref>{{Cite web|last=Babla|first=Shraddha|title=Intas Pharma In No Hurry To List, Says MD Binish Chudgar|url=https://www.bloombergquint.com/business/intas-pharma-acquires-tevas-uk-ireland-assets-sees-revenue-from-europe-at-dollar600-million|access-date=2021-10-03|website=BloombergQuint|language=en}}</ref>

=== Sanofi's Fawdon Plant ===
In 2018, Intas' subsidiary Accord Healthcare reopened [[Sanofi]] 's Fawdon plant in the UK for manufacturing generic effervescent medicines. The plant was acquired in 2015 after Sanofi closed the facility.<ref>{{Cite web |title=Intas puts the fizz back into ex-Sanofi plant with generic effervescents |author=Flora Southey |work=Outsourcing-Pharma.com |date=31 January 2018 |url= https://www.outsourcing-pharma.com/Article/2018/01/31/Intas-puts-the-fizz-back-into-ex-Sanofi-plant-with-generic-effervescents}}</ref> This is the fifth manufacturing location for Accord in the country after Harrow, Barnstaple, Haverhill, and Didcot.<ref>{{Cite web|date=2018-01-25|title=500 jobs to be created by Accord Healthcare at its new Fawdon Pharmaceutical Factory|url=https://investnortheastengland.co.uk/news/accord-healthcare-new-fawdon-pharmaceutical-factory/|access-date=2021-10-03|website=Invest North East England|language=en-GB}}</ref>

== Financials ==
The company had an annual revenue of US$1.8 [[Billion]] (₹12,600 [[crore]]) in 2019 and a profit of $204 [[1,000,000|Million]] (₹1,248 crore) after taxes in the financial year 2019. The company's 69% of revenue came from international operations in the FY2019 while 31% came from [[India]].<ref name="fy19"/>

== Controversies ==
In December 2020, the company along with [[Mankind Pharma]] received show-cause notices for selling anti-diabetic medicine without seeking price approval from [[National Pharmaceutical Pricing Authority]].<ref>{{Cite news|last=Chandna|first=Himani|date=31 December 2020|title=Mankind Pharma, Intas found selling diabetes drug ‘without nod’, to get show cause notice|work=[[ThePrint]]|url=https://theprint.in/health/mankind-pharma-intas-found-selling-diabetes-drug-without-nod-to-get-show-cause-notice/577101/|access-date=2021-10-03}}</ref>

== References ==
{{reflist|2}}

== External links ==
* [https://www.intaspharma.com/ Official site]

{{Authority control}}

[[Category:Indian brands]]
[[Category:Pharmaceutical companies of India]]
[[Category:Biotechnology companies of India]]
[[Category:Pharmaceutical companies established in 1977]]
[[Category:Manufacturing companies based in Ahmedabad]]
[[Category:1977 establishments in Gujarat]]

Intas Pharmaceuticals - Revision history

Ajay Kumar at 10:00, 7 March 2022