Rubicon Research Limited Completes Acquisition of Alkem's Pithampur Manufacturing Unit for Rs. 149 Crores

June 24, 2025 09:06 AM AEST | By NewsVoir
 Rubicon Research Limited Completes Acquisition of Alkem's Pithampur Manufacturing Unit for Rs. 149 Crores
Image source: Kalkine Media

Rubicon Research Limited has completed the acquisition of Alkem Laboratories' formulations manufacturing facility in Pithampur, Madhya Pradesh in an all-cash deal for Rs. 149 crores.


The acquired facility, located in the Special Economic Zone at Pithampur, Madhya Pradesh, is equipped to manufacture steroids, hormones, and high-potency products, including immunosuppressants and oncology medications. The facility was inspected by the U.S. Food and Drug Administration (US FDA) in 2022. With a built-up area of more than 16,000 sq. m. and total plot area of more than 1,25,000 sq. m., the site has potential for future expansion.


Besides capacity expansion, the addition of a third formulations manufacturing location strengthens Rubicon's supply chain and adds new manufacturing capabilities for Rubicon in segments like steroids, hormones, and high-potency products.


Mr. Parag Sancheti, Chief Executive Officer of Rubicon Research Limited highlighted the importance of this acquisition saying, "This acquisition supports our strategy of expanding our US market presence and complements our development efforts to grow our portfolio of specialty products and drug device combination products. The Pithampur facility increases our ability to manufacture products for regulated markets at scale through a resilient supply chain."


Additionally states "As mentioned in our DRHP, our two existing manufacturing facilities in Maharashtra as well as our R&D facilities in India and Canada are also USFDA inspected."


About Rubicon Research
Rubicon Research Limited is a pharmaceutical formulations company with an expanding portfolio of specialty and drug-device combination products, exclusively focused on regulated markets, particularly the United States.


Rubicon's total revenue from operations more than doubled from Rs. 3,135.67 million in Fiscal 2022 to Rs. 8,538.89 million in Fiscal 2024, growing at a CAGR of 62.5%, which, according to Frost & Sullivan, was five times higher than the average of 11 assessed peers, making Rubicon the fastest-growing Indian pharmaceuticals formulations company, among the assessed peers.


According to Frost & Sullivan, Rubicon is the only Indian pharmaceutical player among six listed Indian peers assessed that is entirely focused on regulated markets.


As of March 31, 2024, Rubicon had 69 active US FDA-approved ANDA and NDA products and, according to Frost & Sullivan, ranked among the top 10 Indian companies by total ANDA approvals from the US FDA in Fiscal 2024, securing 14 approvals that year. Between 2018 and 2023, according to Frost & Sullivan, it also ranked 9th among companies. receiving specialty product approvals in the US, with 8 approvals in that period. Rubicon maintains a strong innovation focus, with revenue expenditure on R&D in Fiscals 2024, 2023, and 2022 representing 13.00%, 18.52%, and 40.15% of revenue from operations, respectively. Frost & Sullivan noted Rubicon's R&D expenses as a percentage of revenue from operations in Fiscal 2024 was 2.5 times higher than the average of Indian peers assessed.


Disclaimer
Rubicon is proposing, subject to receipt of requisite approvals, market conditions and other considerations, an initial public offering of its equity shares and has filed a Draft Red Herring Prospectus (DRHP) dated 31 July 2024 with SEBI. The DRHP is available on the website of SEBI at www.sebi.gov.in, the Company at www.rubicon.co.in and the websites of the Book Running Lead Managers - Axis Capital Limited, JM Financial Limited, IIFL Capital Services Limited (formerly known as IIFL Securities Limited), and SBI Capital Markets Limited at www.axiscapital.co.in, www.jmfl.com, www.iiflcap.com, and www.sbicaps.com, respectively and the websites of BSE Limited and National Stock Exchange of India Limited at www.bseindia.com and www.nseindia.com, respectively.


Investors should note that investment in equity shares involves a high degree of risk and for details refer to the Red Herring Prospectus, including the section titled "Risk Factors" of the Red Herring Prospectus when available. Potential investors should not rely on the DRHP for any investment decision.


This press release is for information only and does not constitute an offer to sell or solicitation to buy securities.


This announcement is not being made in and copies of it may not be distributed or sent into the United States, the United Kingdom, Canada, Australia or Japan.


The securities of Rubicon Research Limited may not be sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Rubicon Research Limited does not intend to register any of the securities in the United States or to conduct a public offering of the securities in the United States.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (“Kalkine Media, we or us”), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary.
The content published on Kalkine Media also includes feeds sourced from third-party providers. Kalkine does not assert any ownership rights over the content provided by these third-party sources. The inclusion of such feeds on the Website is for informational purposes only. Kalkine does not guarantee the accuracy, completeness, or reliability of the content obtained from third-party feeds. Furthermore, Kalkine Media shall not be held liable for any errors, omissions, or inaccuracies in the content obtained from third-party feeds, nor for any damages or losses arising from the use of such content.
Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyrighted to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have made reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.
This disclaimer is subject to change without notice. Users are advised to review this disclaimer periodically for any updates or modifications.

AU_advertise

Advertise your brand on Kalkine Media

Sponsored Articles


Investing Ideas

Previous Next
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.