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1482-1486, Trasad Road, Dholka
Concord Biotech Ltd. is an R&D driven biotechnological powerhouse that manufactures Active Pharmaceutical Ingredients through the process of Fermentation, Semi-synthetic and synthetic processes. Founded in the year 2000, Concord has since emerged from a single... more.
Welcome to Concord Biotech
Sudhir Vaid is the MD and CEO of Concord Biotech Limited.
He is responsible for ensuring efficient and effective functioning of the organization as a whole. As a promoter of Concord Biotech Limited, Sudhir is responsible for providing the strategic direction and is the keystone in building strategic partnerships and a strong and prestigious customer base for Concord. Sudhir began his career as a biotechnologist in the year 1975 and has worked with the leading biotechnology companies in India and abroad, before he turned entrepreneur in the year 2000. He brings with him a rich 30 years of experience in Corporate R & D and consultancy with the leading global API companies in the area of biotechnology encompassing vitamins, statins, hormones and antibiotics. He is a prolific observer with an open mind & a zeal for excellence. He has a keen determination to grow which has led Concord to achieving greater heights. With his vision & foresight Concord has come up to be one of the fastest growing global fermentation based API companies.
Ankur Vaid, son of Concord Biotech's founder Sudhir Vaid, confirmed the Ahmedabad-based company's plans.
"Definitely, an IPO is in the pipeline," Vaid told Business Standard. He is also a director of Concord Biotech. "However, we have not yet decided the timeframe and the amount to be raised from the issue," he added. Vaid said Jhunjhunwala had a "significant stake" in Concord Biotech. According to media reports, Jhunjhunwala holds 40 per cent while Sudhir Vaid owns 52 per cent. Tags :IPOs | Rakesh Jhunjhunwala | Concord Biotech | Hungama Digital | Topsgrup | Ankur Vaid | Sudhir Vaid | Sebi |
BioSpectrumIndia - the business of biotech
- Sudhir Vaid, MD, Concord Biotech Ltd, Ahmedabad
Sudhir Vaid, the main promoter and managing director of Concord Biotech, signed a term sheet with Matrix executives in Secunderabad on Tuesday.Matrix sources said that Concord Biotech is a closely-held private company, which posted a net profit of Rs 2 crores on revenues of Rs 15 crores in 2004-05.Financial terms of the deal were not disclosed. Matrix will be acquiring the 55 per cent stake in Concord Biotech through a combination of purchasing of existing equity shares from the promoters and other shareholders of the company and subscribing to the new equity shares to be issued by Concord Biotech on preferential basis.Mr Sudhir Vaid and his associates will continue to hold a 29 per cent stake in the company.Other existing shareholders will hold a 16 per cent stake.The sources said that Mr Vaid and his team will continue to spearhead the operations of the company under the guidance of the board in which Matrix will have majority representation.Concord has filed Drug Master Files for Lovastatin, Simvastatin and Tacrolimus with the US FDA.Dossiers for obtaining Certificate of Suitability for these three products have also been filed with the European department for quality medicines.
domain-B: companies: companies : Matrix to acquire controlling stake in Concord Biotech
Sudhir Vaid, the main promoter and the managing director of Concord Biotech, and his associates will continue to hold 29 per cent stake in the company.Other existing shareholders will hold a 16-per cent stake.Vaid and his team will continue to spearhead the operations of the Concord reporting to the board in which Matrix will have majority representation.In addition, Vaid will also enter into a non compete agreement with Matrix for three years, which would commence after the completion of the period of the management contract.