Rubicon Research Ltd is a pharmaceutical formulations company, driven by innovation through focused research and development, with an increasing portfolio of specialty products and drug-device combination products targeting regulated markets and in particular the United States. Based on the peer set (of six listed Indian companies assessed by F&S, and our Company), they are the only Indian pharmaceutical player with a complete focus on regulated markets. (Source: F&S Report)
According to F&S, between Fiscals 2022 and 2024, they were the fastest growing Indian pharmaceuticals formulations company with a CAGR for total revenue of 62.5% which was five times higher than the average (of 11 companies, including us) assessed by F&S. According to F&S, in Fiscal 2024, they ranked among the top 10 Indian companies in terms of total Abbreviated New Drug Application (“ANDA”) approvals. They received 14 ANDA approvals from the US FDA in Fiscal 2024, 12 ANDA approvals in Fiscal 2023 and nine ANDA approvals in Fiscal 2022.
According to F&S, in Fiscal 2024, among their 55 commercialized products (“Commercialized Products”) in the US, they held a market share of more than 25% by volume for seven products. Furthermore, according to F&S, none of their manufacturing facilities have received an “Official Action Indicated” (“OAI”) statthem by the US FDA since 2013.
They believe their multi-disciplinary, data-driven, and return on investment (“ROI”) centric product selection framework is geared towards identifying sustainable opportunities for new product development. They identify and pursue such opportunities in a manner that provides them a competitive advantage by leveraging their development, manufacturing, and commercialization capabilities to create and grow their share of the market.
As on March 31, 2024, they had a portfolio of 69 active1 ANDA and New Drug Application (“NDA”) products approved by the US FDA. According to F&S, their Company’s portfolio includes 55 Commercialized Products, with a US generic pharmaceutical market size of USD 2,386.6 million, of which the Company contributed USD 154.3 million in Fiscal 2024. These products are being marketed and are available for purchase by customers in the US.
Note: The actual amount will be debited when the shares are allotted to you.
Note: The actual amount will be debited when the shares are allotted to you.
An IPO offers share market participants like you and me an opportunity to be a shareholder in an erstwhile privately held company that is now going public and being listed on the market. Historically speaking, investors who choose the right IPOs make significant returns on their investments, which increases the attraction of IPOs.
Once you are a shareholder, you are eligible to receive dividends from the company proportional to the shares you own. You can also sell your stocks for profit on the stock exchange.
In exchange for its shares, the company has an opportunity to raise huge capital to be used to further enhance its business and scale up its operations. The company also has other benefits, such as credibility; visibility; better leverage to effect mergers, acquisitions and even to procure loans at lower rates of interest.
In India, the entire IPO process is ably regulated by the Securities & Exchange Board of India (SEBI), right from the IPO filing by the company to the bidding, allotments and refunds (in case you aren't allotted shares due to oversubscription).
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