Mankind Pharma

What Mankind Pharma does

Mankind Pharma Limited, founded in 1995 by Ramesh Juneja and Rajeev Juneja, is India's 4th largest pharmaceutical company by domestic sales. Headquartered in New Delhi with 28,000+ employees, it develops, manufactures, and commercializes affordable generic pharmaceuticals across acute and chronic therapeutic areas including anti-infectives, cardiovascular, gastrointestinal, respiratory, anti-diabetic, gynecology, dermatology, and CNS treatments. The company operates 32 manufacturing facilities with 43.5 billion units annual installed capacity across India, Nepal, and Germany, producing formulations, APIs (including India's first commercialized Dydrogesterone), biosimilars, and complex injectables/ophthalmics. Its 7 R&D centers employ 730+ scientists and have produced 76+ ANDA filings, 350+ patents, and novel molecules including a GPR119 agonist (Phase II) and JAK1 inhibitors.

The company generates revenue primarily through domestic pharmaceutical formulations (₹12,217 crore, 86% of FY25-26 total) and international operations (₹2,061 crore, +34.5% YoY) across 70+ countries via LifeStar Pharma (North America) and BSV (global biopharma). GTM relies on India's largest field force of 18,000+ representatives covering 5,00,000+ doctors through 13,000+ stockists, complemented by in-licensing partnerships (AstraZeneca, Takeda, Biocon) and consumer healthcare brands (Manforce condoms, Prega News pregnancy tests, Gas-O-Fast antacids) sold through retail channels. The December 2024 acquisition of Bharat Serums and Vaccines (BSV) for ₹13,770 crore added a biologics platform (including the world's first recombinant Anti-D immunoglobulin Trinbelimab) and made Mankind the domestic gynecology leader with 10.4% market share. The company IPO'd on NSE/BSE in 2023 and trades under ticker MANKIND, with a market capitalization of approximately ₹99,640 crore and FY25-26 revenue of ₹14,278 crore (+17% YoY) at a 27% EBITDA margin.

Name

Mankind Pharma

Legal name

Mankind Pharma Limited

Website

https://mankindpharma.com

Company type

Public

Founded year

1995

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Mankind Pharma Limited is India's 4th largest pharmaceutical company, developing and commercializing affordable generic formulations, consumer healthcare brands, and biopharmaceuticals across 70+ countries via an 18,000+ field force covering 5,00,000+ doctors.

Ownership category

akta.pro rank

Product category

Pharmaceutical Manufacturing

NAICS

Pharmaceutical Preparation Manufacturing (325412), Biological Product (except Diagnostic) Manufacturing (325414)

SIC

Pharmaceutical Preparations (2834), Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Primary Care & General Medicine Pharmaceuticals (HLAIAAAA)

akta.pro secondary industries

Cardiometabolic Pharmaceuticals (Cardiovascular/Diabetes/Obesity) (HLAIAAAE), Endocrinology & Reproductive Health Pharmaceuticals (incl. Women’s Health) (HLAIAAAJ), Respiratory & Allergy Pharmaceuticals (HLAIAAAH)

Keywords

• Generic pharmaceuticals
• Pharmaceutical formulations
• Consumer healthcare products
• Active pharmaceutical ingredients
• Biopharmaceutical products

Headquarters

HQ city

New Delhi

HQ country

India

HQ region

Asia

Offices17 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Supply Chain, Infrastructure

Revenue model

1. Domestic Formulations: Sale of pharmaceutical formulations across acute and chronic therapeutic areas in the Indian market through extensive field force and distribution network
2. International/Export Revenue: Revenue from exports to 34+ countries including regulated markets (US, EU), emerging markets (LATAM, Africa, MENA, ASEAN), andROW markets
3. Consumer Healthcare Products: Sale of OTC products including condoms (Manforce), pregnancy test kits (Prega News), antacids (Gas-O-Fast), and other consumer healthcare items through retail channels
4. Bharat Serums and Vaccines (BSV) Specialty: Revenue from biopharmaceuticals, vaccines, fertility hormones, and specialty injectables through BSV's domestic and international operations

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

Mankind Pharma develops, manufactures, and commercializes affordable generic pharmaceutical formulations across acute and chronic therapeutic areas (anti-infectives, cardiovascular, gastrointestinal, respiratory, anti-diabetic, gynecology, CNS), alongside consumer healthcare brands (Manforce condoms, Prega News pregnancy tests, Gas-O-Fast antacids), active pharmaceutical ingredients (including India's first commercialized Dydrogesterone), biopharmaceuticals through its BSV subsidiary (Trinbelimab recombinant Anti-D, fertility hormones), veterinary formulations, pet care, and crop protection products. The company operates 32 manufacturing facilities with 43.5 billion units of installed capacity and 7 R&D centers employing 730+ scientists.

Product overview

Mankind Pharma operates as a diversified pharmaceutical company with a unified product portfolio spanning prescription pharmaceuticals, consumer healthcare, APIs, biopharmaceuticals, veterinary care, pet care, and agritech. The core pharmaceutical business offers 500+ formulations across acute and chronic therapeutic areas including anti-infectives, cardiovascular, gastrointestinal, respiratory, anti-diabetic, gynaecology, dermatology, pain/analgesics, and neuro/CNS treatments. Consumer healthcare is anchored by leading brands Manforce (condoms), Prega News (pregnancy tests), Gas-O-Fast (antacids), and Unwanted 21 (contraceptives). The BSV biopharma division provides women's health, fertility, critical care, and emergency medicine products including the novel Trinbelimab. Manufacturing capabilities include 32 facilities across India, Nepal, and Germany. The company operates through subsidiaries including LifeStar Pharma for North America and has expanded into pet care (PetStar) and agritech (crop protection products).

Differentiator

Problem solved

Functional benefit

Brands

• Manforce: India's #1 ranked condom brand offering products for sexual wellness, safety, and intimacy. Also includes Epic Condoms & Lubes premium line and Thunder Vibrating Ring Massager.
• Prega News
• Unwanted 21
• Gas-O-Fast
• AcneStar
• HealthOK
• Kabz End
• Nimulid
• Ova News
• PregaHope
• PregaHappy
• Epic Condoms
• PetStar
• Mankind Agritech
• Rapid News

Products and services

• Manforce India's #1 condom brand offering condoms, lubricants, and premature ejaculation gels for sexual wellness and safety. Positioned as a trusted sexual wellness brand.
• Prega News India's #1 pregnancy test kit brand offering home pregnancy detection with 99% accuracy. Provides early and reliable pregnancy confirmation for women.
• Epic Condoms & Lubes Premium vegan, flavored condom and lubricant line targeting the luxury segment. Crafted for consumers seeking elevated intimate experiences.
• Gas-O-Fast #2 ranked antacid powder brand providing instant relief from acidity and indigestion using natural Ayurvedic ingredients.
• Unwanted 21 Daily contraceptive pill providing reliable hormone-based pregnancy prevention for women with regular use.
• HealthOK #8 ranked VMN (Vitamins/Minerals/Nutrients) brand, 100% vegetarian multivitamin with ginseng, taurine, and 19 essential nutrients for boosting energy, immunity, and overall wellness.
• AcneStar Medicated anti-acne brand providing powerful skincare solution for acne control, reducing pimples, controlling excess oil, and promoting clearer skin.
• Ova News Ovulation detection kit that identifies fertile days by detecting LH hormone surge before ovulation, helping women trying to conceive.
• PregaHope Fertility-friendly lubricant and pre-pregnancy support supplement designed to promote healthy ovulation and regulate the female reproductive system for women trying to conceive.
• Kabz End Natural Ayurvedic laxative providing effective relief from constipation with herbal formula promoting smooth digestion.
• Nimulid Pain relief medication for neck pain and inflammation.
• Trinbelimab World's first marketed recombinant Anti Rh(o)-D Immunoglobulin developed by BSV to prevent sensitization in Rh negative mothers. Winner of Prix Galien 2024 for Best Biotechnology Product. Patented globally across Australia, Eurasia, Canada, Europe, and South Africa.
• Generic Semaglutide Injection Generic semaglutide weight-loss injection launched in India in April 2026 following patent expiry of innovator brands, targeting the GLP-1 weight-loss drug market.
• Dydrogesterone Dydrogesterone API for women's health applications including menstrual cycle regulation and infertility treatment. First developed and commercialized by an Indian pharmaceutical company.
• PetStar Modern-age pet food brand crafted for Indian climate with UK-sourced ingredients meeting BRCGS standards. Offers customized recipes with nutritionists-developed formulations.
• Mankind Agritech Products Comprehensive crop protection portfolio including herbicides, insecticides, fungicides, plant growth regulators, plant nutrition, and biopesticides for Indian farmers.
• Rapid News Diagnostic kits brand including UTI test, menopause test, and dengue antigen test for home-based diagnostics.

Quantifiable outcome

• 72.14% carbon emission reduction in FY2025-26 vs FY2020-21 baseline
• +7 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature6 records

Partnerships

13 partnerships are on record, tiered core.

• Denovo SciencescoreStrategic or Co-development Partner · 2 July 2026AI-led drug discovery partnership combining Mankind Pharma's R&D and clinical development capabilities with Denovo Sciences' proprietary AI platform for molecular generation and prioritization. The collaboration operates under a human-in-the-loop model where AI generates and evaluates molecular candidates while scientific experts validate and refine results, aiming to reduce early drug discovery timelines and improve lead candidate quality.
• AstraZenecacoreGTM or Marketing PartnerCo-marketing arrangements for Symbicort (budesonide/formoterol for asthma/COPD) and Crenzlo (Inclisiran - novel cholesterol treatment), leveraging Mankind's extensive field force and distribution network for broader market reach in India.
• Takeda PharmaceuticalscoreGTM or Marketing PartnerNon-exclusive patent license agreement to launch Vonoprazan (Vonalong and Vonatime brands) for treating GERD in India, a novel potassium-competitive acid blocker.
• Biocon BiologicscoreGTM or Marketing PartnerExclusive partnership for Insulin Aspart analogue (rapid-acting insulin), expanding Mankind's diabetes portfolio with established biologic product.
• Gan & Lee PharmaceuticalscoreGTM or Marketing PartnerCo-marketing of Insulin Glargine (long-acting insulin), providing comprehensive diabetes management solutions through complementary field force and distribution.
• NovaartscoreGTM or Marketing PartnerCo-marketing arrangement for Neptaz (Sacubitril/Valsartan) - novel heart failure treatment, combining products for comprehensive cardiovascular portfolio.
• Panacea Biotec PharmacoreOthersAcquired domestic formulations business of Panacea Biotec Pharma for Rs 1,908 crore, including formulations brands in India and Nepal along with related trademarks and copyrights, enabling entry into transplant and oncology segments.
• Roche ProductscoreOthersAcquired Rivotril brand (clonazepam) from Roche for Indian market, strengthening CNS therapy segment and supporting growth in chronic therapies.
• Dr. Reddy's LaboratoriescoreOthersAcquired Daffy and Combihale brands from Dr. Reddy's, expanding product portfolio in relevant therapeutic areas.
• Bharat Serums and Vaccines Limited (BSV)coreOthersAcquired 100% stake in BSV for ₹13,770 crore, marking strategic pivot into high-barrier biologics and making Mankind the domestic gynecology leader with 10.4% market share. BSV brings 50+ years of biopharmaceutical innovation including Trinbelimab and fertility hormones.
• Mamta Health Institute for Mother & Child (MAMTA HIMC)coreStrategic or Co-development PartnerPartnership for nationwide preventive oncology initiative reaching over 1 million women and families in underserved Indian communities with cancer awareness and screening access for breast and cervical cancer. Program trains frontline healthcare workers including ASHAs, ANMs, and Community Health Officers.
• Dr. Anil KoulcoreOthersDr. Anil Koul joined as Group Chief Scientific Officer in 2025, previously led respiratory infections discovery at Johnson & Johnson's Janssen division and discovered Bedaquiline. He brings extensive drug discovery expertise to lead innovation and next-generation drug development.
• Theravance BiopharmacoreOthersSettled Hatch-Waxman patent litigation over YUPELRI (revefenacin), granting Mankind Pharma royalty-free non-exclusive US license to market generic version starting April 23, 2039.

Scale indicators22 records

Recent moves9 records

Expansion highlights7 records

Direct peers

• Sun Pharmaceutical Industries: Largest Indian pharma company by domestic sales and a direct competitor across Mankind's full therapeutic spectrum including chronic, specialty, and US generics. Sun Pharma's larger specialty and biologics presence makes it the closest scale and portfolio comparable to Mankind.
• Cipla: Indian pharma major competing head-to-head with Mankind in respiratory (a stated Mankind specialty), anti-infectives, and chronic segments, with comparable distribution muscle and similar India-mass-market orientation.
• Dr. Reddy's Laboratories: India-headquartered pharma with parallel generic-and-specialty platform, USFDA-approved manufacturing, biosimilars investment, and chronic-therapy portfolio overlapping Mankind's cardiovascular, anti-diabetic, and CNS franchises.
• Lupin Limited: Top-5 Indian pharma competing across cardiovascular, anti-diabetic, respiratory, and women's health segments using a similar field-force-driven domestic model with growing US generic presence.
• Zydus Lifesciences (formerly Cadila): India-headquartered pharma with broad generics, biosimilars, and consumer wellness businesses, directly comparable to Mankind on domestic mass-market field force plus biologics push via the BSV-type acquisition strategy.
• Torrent Pharmaceuticals: India-focused pharma with heavy chronic-therapy weighting (cardiac, CNS, diabetes), closely mirroring Mankind's targeted chronic division expansion and field-force-led primary care engagement.
• Aurobindo Pharma: Major Indian generics player with comparable USFDA-heavy export strategy (76+ ANDAs filed), large API integration, and broad therapeutic spread similar to Mankind's LifeStar franchise.
• Glenmark Pharmaceuticals: Mid-tier Indian pharma competing in dermatology, respiratory, and oncology, with similar chronic-therapy pivot but smaller scale — useful as a closely-matched business model comparable.
• Alkem Laboratories: India-centric pharma with comparable anti-infective and chronic mix; ranked near Mankind in domestic pharma rankings and replicating its tier 2-3 town distribution focus.
• Ipca Laboratories: Domestic-focused Indian generics competitor with parallel field-force distribution, mass-market acute-and-chronic portfolio, and emerging export business — scaled-down twin of Mankind's domestic franchise.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Pharma_Mankind
• YouTubeyoutube.com/channel/UCRnBT-DEKwKLkjIVe37Vu8Q
• Facebookfacebook.com/MankindPharmalimited
• LinkedInlinkedin.com/company/mankind-pharma-ltd

Compliance15 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries15 records

Funding overview

Funding rounds2 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments10 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mankind Pharma