History
Mankind Pharma was incorporated in 1991, and actively started its operations in 1995, with the contributions of two brothers, Ramesh C. Juneja and Rajeev Juneja, who established the company with a seed capital of ₹5000000.[14][15] The company was started with 20 employees and launched in two states in the first year of its operation.[16][17]
Mankind Pharma initially targeted price-sensitive drugs, with a focus on rural market;[18] its early products included antibacterial drug Zenflox and prescription antibiotic Moxikind CV, which were priced at a steep discount to the existing products in the market.[19] The company ventured into the over-the-counter segment in 2007, focusing primarily on sexual healthcare products.[20][21]
The company acquired Magnet Labs Pvt. Ltd. to enter the antipsychotic segment in 2007.[22] It acquired Longifene-an appetite stimulant for children in January 2010 which was earlier a brand of UCB.[23]
In 2017, Mankind Pharma established Pathkind Labs, a provider of diagnostics and healthcare tests.[24]
In 2019, Mankind became the first Indian company and second only in the world to develop and launch Dydrogesterone, a drug used in high-risk pregnancies and infertility by the brand name Dydroboon.[25]
In 2022, Mankind acquired Panacea Biotec Pharma's domestic formulations brands in India and Nepal for inr 18720000000.[26] It then acquired a respiratory treatment product, and an infant skincare brand from Dr. Reddy's Laboratories.[27] It also bought a majority stake in the Ayurvedic and herbal products manufacturer, Upakarma Ayurveda.[28]
In 2022, the company entered agritech[29] and pet care segments.[30]
In April 2023, Mankind Pharma launched its initial public offering (IPO), with existing investors selling inr 43260000000 worth of shares.[31]
In 2024, Mankind Pharma acquired a 100% stake in Bharat Serums and Vaccines (BSV) from private equity firm Advent International for an enterprise value of inr 136300000000.[32] The deal included over 2,500 employees joining the company. Mankind also aimed to raise up to ₹10,000 crore through non-convertible debentures to support its growth initiatives.[32]
