Anthem Biosciences, a contract drugmaker based in India, has filed for a ₹3,395 crore ($397 million) initial public offering (IPO), according to draft papers released recently. The company, which offers services such as early-stage drug discovery and drug efficacy testing, will see shares being sold by investors including private equity firm True North and drugmaker DavosPharma.
The Indian IPO market has seen a surge in activity this year, with over 300 companies raising $17.5 billion in proceeds as of mid-December. This places India at the forefront globally in terms of IPO proceeds and volumes. Anthem’s decision to go public comes at a time when global drugmakers are increasingly looking to diversify their supply chains and reduce reliance on Chinese contractors.
Established in 2007, Anthem operates two manufacturing facilities and also produces active pharmaceutical ingredients (API), dietary supplements, and probiotics. The company competes with other Indian API makers such as Syngene International, Divi’s Laboratories, and Sai Life Sciences.
Anthem’s IPO is a significant development in the Indian pharmaceutical industry and reflects the growing interest in drug discovery and API manufacturing in the country. With the market showing strong momentum, Anthem’s public offering is expected to attract significant attention from investors looking to capitalize on the sector’s growth potential.
