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Mankind Pharma IPO - Calibrated Approach In Domestic Branded Formulations: ICICI Direct

Mankind Pharma will launch its maiden public offering on April 25, 2023.

<div class="paragraphs"><p>Mankind Pharma Ltd.'s R&amp;D facility. (Source: Company website)</p></div>
Mankind Pharma Ltd.'s R&D facility. (Source: Company website)

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ICICI Direct Report

Mankind Pharma Ltd. is the fourth largest player in the domestic market with a presence across therapy areas like anti-infectives, cardiac, gastro, respiratory and also in consumer healthcare segments like condoms, acne preparations, emergency contraceptives, pregnancy tests among others.

As of December 2022, it employed 4,121 manufacturing workers across 25 manufacturing locations, four research and development laboratories in India. It has a field team of 3,561 field managers and 11,691 medical representatives across India.

Key triggers/Highlights:

  • Scalable domestic company with strong Indian pharma market performance and room for expansion.

  • High brand recognition with strong portfolio presence across therapeutic areas • Growing presence in areas of chronic therapy.

  • Good track record of operational & financial performance.

Key risk and concerns

  1. Competition from well established players in newer therapies.

  2. Concentration towards top revenue generating brands.

  3. Volatility in active pharma ingredient prices.

  4. Dependence on key personnel

Click on the attachment to read the full report:

ICICI Direct Mankind IPO Review.pdf
Opinion
Mankind Pharma IPO - One Of The Largest Domestic Pharma Companies In India: Anand Rathi

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