Shares of the pharmaceutical company Concord Biotech Ltd were trading 5% higher on 9 April after the company announced securing final approval from the US Food and Drug Administration (USFDA) to market its Teriflunomide Tablets, 7 mg and 14 mg.

The medication teriflunomide is used to treat patients with relapsing forms of multiple sclerosis. 

According to IQVIATM, teriflunomide tablet sales are expected to reach over $402 million in the US and $908 million globally, indicating substantial potential for growth both at home and abroad. 

In its regulatory filing, the company said, “The approval reinforces our capability in successfully developing and commercialising a differentiated product portfolio for the US market.”

Concord Biotech, established in 2000, is a research-driven biopharmaceutical firm that specialises in the manufacturing of Active Pharmaceutical Ingredients (APIs) via fermentation and semi-synthetic techniques, as well as final formulations. 

Concord began as a single-product organisation and has now grown into a full solutions provider, delivering a diverse range of goods across multiple therapeutic categories. The company has created a global presence, with products distributed in over 70 countries, including key markets such as the United States, Europe, Japan, and Latin America, as well as a significant presence in India. 

By establishing strategic partnerships with leading global pharmaceutical companies, Concord is able to expand its product line and reach in both APIs and final formulations.

Concord operates cutting-edge manufacturing facilities in India, including three important sites in Ahmedabad and Gujarat. The Dholka facility, which opened in 2000, concentrates on API production and has received various regulatory certifications, including those from the USFDA, EUGMP, and PMDA. 

Launched in 2016, the Valthera factory produces a variety of oral solids and liquids with the intention to expand into injectable formulations. The Limbasi factory, the most recent extension, was built in 2021 and is dedicated to API manufacturing. It has advanced fermenting and downstream processing capabilities. 

At 11:27 am, the shares of Concord Biotech were trading 1.64% higher at Rs 1,622.80 on NSE.

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