Emcure Pharmaceuticals Ltd (Emcure), a Rs.1,800 crore Pune based pharma major, has filed a draft red herring prospectus (the DRHP) with the Securities and Exchange Board of India (SEBI) for offering of equity shares of face value Rs.10 each for cash at a price per equity share including a share premium to be determined through the book building process. The Issue comprises a fresh issue of equity shares aggregating up to Rs.300 crore and an offer for sale of up to 2,513,057 equity shares by certain existing shareholders of the company.
The equity shares offered in the Issue are proposed to be listed on BSE and NSE. The book running lead managers to the issue are DSP Merrill Lynch Ltd, IDFC Capital Ltd and Morgan Stanley India Company Pvt Ltd.
Emcure is a fast growing Indian pharmaceutical company engaged in developing, manufacturing and marketing a broad range of pharmaceutical products globally. Its core strength lies in in-house development and manufacturing of differentiated pharmaceutical products. The company focuses its research and development efforts on developing a portfolio of differentiated products across several platforms, including chiral molecules, biosimilars and novel drug delivery systems. It commercializes its products through a combination of its own marketing and distribution infrastructure across geographies as well as relationships with multinational pharmaceutical companies.
It has a pan India marketing and distribution presence with a field force of more than 4,800 personnel, as of March 31, 2013. The company has a well-diversified income base in terms of geographies, therapeutic areas and business segments within the pharmaceutical industry. The company has its own sales and marketing infrastructure in the United States through its subsidiary, Heritage.
The company also sells its portfolio of branded generic products to the rest of world. Its products are currently shipped to over 65 countries, where it has established its presence by focusing on important alliances with local and multinational companies.
The company has subsidiaries in Brazil, Dubai, Nigeria, Singapore and South Africa and branch offices in Morocco and Russia, which play an important role in its international operations. It operates nine manufacturing facilities, eight of which are located in India and one in the United States. Several of these facilities have approvals from various regulatory bodies, including the US FDA and the UK-MHRA. These facilities are capable of producing APIs and pharmaceutical products encompassing a wide range of dosage forms including oral solids, oral liquids, soft gelatin capsules and injectables (both liquid and lyophilized).