Incorporated in 1981, Emcure Pharmaceuticals Limited is a prominent Indian pharmaceutical company known for developing, manufacturing, and globally marketing a diverse range of pharmaceutical products across several major therapeutic areas. Ranked 13th in domestic sales and 4th in market share in covered markets for MAT September 2023, Emcure is a leader in the gynaecology and HIV antiviral therapeutic areas. In the first half of FY 2023 and the Financial Year 2023, domestic sales contributed 50.84% and 53.16% of total revenue, respectively, with domestic sales growing at a CAGR of 10.80% between September 2019 and September 2023, outperforming the Indian pharmaceutical market. The company employed 552 scientists as of September 30, 2023, and operated five research facilities in India, filing over 1,800 documents globally, including 204 in the EU and 133 in Canada, with 201 granted patents and 33 pending patent applications. Emcure's 13 manufacturing facilities in India produce a wide array of pharmaceutical and biopharmaceutical products, including pills, liquids, injectables, and complex ingredients like chiral molecules, iron molecules, and cytotoxic substances. The company's extensive marketing and distribution network in India, supported by over 5,000 field personnel and 5,000 stockists served by 37 carry-and-forward agents, ensures regular interaction with healthcare providers and effective distribution of its products.

Strength Factors

Strategic Domestic Position: The company is well-placed to leverage its strong position in the domestic market.

Brand Building Expertise: Demonstrated capabilities in building and establishing strong brands.

Diverse and Expanding Portfolio: A large, diversified, and fast-growing product portfolio in international markets.

Risk Factors

Manufacturing and Quality Control Issues: Problems in manufacturing or quality control can damage the company's reputation, lead to regulatory action, and expose the company to litigation or other liabilities.

Non-Compliance with Quality Standards: Failure to meet applicable quality standards may result in product liability claims, negatively impacting the company's business, financial condition, cash flows, and operations.

Supply Chain Disruptions: Disruptions in the supply or price increases of outsourced raw materials and finished products can adversely affect the supply and pricing of the company's products, impacting its business, cash flows, financial condition, and results of operations.