Substipharm
Substipharm is a privately-held French pharmaceutical group founded in 1995, operating two divisions — Pharmaceuticals (branded specialties and generics with 90+ molecules) and Biologics/Vaccines (IMOJEV Japanese Encephalitis and ENVACGEN Enterovirus A71 vaccines) — serving healthcare providers and patients across more than 100 countries via direct sales and distribution partnerships.
- Company typePrivate
- Founded1995
- HeadquartersParis, France
- Headcount101–250
- GTM typeB2B
- OfferingHardware or Manufacturing
What Substipharm does
Substipharm is a privately-held French pharmaceutical group founded in 1995 and headquartered in Paris, operating across two dedicated divisions: Pharmaceuticals (Branded Specialties and Generics) and Biologics (Vaccines). The pharmaceutical division holds a marketed portfolio of more than 90 different molecules distributed across over 100 countries, encompassing branded specialty products (including recently acquired iconic brands Aspégic from Opella and Kardégic/Cardirene from Sanofi) and generic medicines commercialized through subsidiaries Vygoris (UK) and Substipharm SrL (Italy). The Biologics division, established via the 2022 acquisition of the IMOJEV Japanese Encephalitis vaccine, focuses on Japanese Encephalitis prevention (IMOJEV, a live attenuated vaccine with a single-dose primary immunization profile) and Enterovirus A71 prevention (ENVACGEN, holding the first marketing authorization in Vietnam), supported by a dedicated vaccine manufacturing facility in Bangkok, Thailand.
The company's business model combines internal pharmaceutical dossier development expertise (built since 1995) with both direct commercialization and partnership-based distribution. GTM is sales-led, with a two-fold approach: in-licensing and acquiring niche, well-differentiated established products rather than competing on commoditized offerings, then commercializing through direct channels in Europe and Southeast Asia alongside distribution partnerships (e.g., Medigen Vaccine Biologics for ENVACGEN across six Southeast Asian markets, Emergent BioSolutions for IMOJEV U.S. manufacturing and government distribution valued at $34.5 million). The customer base spans healthcare providers and patients globally, with the company maintaining local medical information, pharmacovigilance, and product quality complaint infrastructure across at least 10 European and Asian markets.
Substipharm employs over 150 people and pursues an acquisition-driven growth strategy, having completed four material acquisitions between 2022 and 2025 (IMOJEV in 2022, Eli Lilly multi-country assets in November 2024, Vectans Pharma majority stake in February 2025, and the Aspégic/Kardégic/Cardirene portfolio from Opella/Sanofi in October 2025). The company is independently/family-owned, with Léopold Berthier as Chairman, and operates regional offices in Paris, London, Milan, Taipei, Geneva (regional HQ for Biologics), and Bangkok, positioning itself for continued internationalization across Europe, North America, Latin America, and Asia-Pacific.
Substipharm firmographics
Firmographics- Name
- Substipharm
- Legal name
- SUBSTIPHARM, S.A.S.
- Website
- https://substipharm.com
- Company type
- Private
- Founded year
- 1995
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Substipharm is a privately-held French pharmaceutical group founded in 1995, operating two divisions — Pharmaceuticals (branded specialties and generics with 90+ molecules) and Biologics/Vaccines (IMOJEV Japanese Encephalitis and ENVACGEN Enterovirus A71 vaccines) — serving healthcare providers and patients across more than 100 countries via direct sales and distribution partnerships.
- Ownership category
- akta.pro rank
Substipharm industry classification
Industry- Product category
- Specialty Pharmaceuticals
- NAICS
- Biological Product (except Diagnostic) Manufacturing (325414), Pharmaceutical and Medicine Manufacturing (3254), Drugs and Druggists' Sundries Merchant Wholesalers (424210)
- SIC
- Biological Products, (No Disgnostic Substances) (2836), Pharmaceutical Preparations (2834)
- akta.pro primary industry
- Infectious Disease & Pandemic Preparedness Vaccines (emerging pathogens) (HLAAAEAC)
- akta.pro secondary industries
- Vaccine Cold Chain, Storage & Distribution (HLAIAEAK), Vaccines & Cold-Chain Pharmaceutical Distributors (HLAIAJAG), Vaccine Fill-Finish, Packaging & Cold-Chain Formulation (vial/syringe, lyophilization, thermostable) (HLAAAEAJ), Travel & Tropical Disease Vaccines (HLAIAEAE)
Keywords
Where Substipharm is headquartered
LocationHeadquarters
- HQ city
- Paris
- HQ country
- France
- HQ region
- Europe
Offices6 records
Markets served
Substipharm business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Operations, Personnel, Technology or R&D, Supply Chain, Marketing or Sales, Infrastructure
Revenue model
- Pharmaceuticals (Branded Specialties & Generics): Substipharm's historical expertise lies in pharmaceuticals, serving both direct and indirect operations globally. The company develops pharmaceutical dossiers and commercializes its own product portfolio of branded specialties and generics. Portfolio includes iconic brands such as Aspégic (acquired from Opella) and Kardégic/Cardirene (acquired from Sanofi).
- Biologics / Vaccines: Substipharm's vaccine activity is focused on Japanese Encephalitis (IMOJEV) and Enterovirus A71 (ENVACGEN). Vaccines are commercialized in Asia-Pacific region through direct operations and distribution partnerships. Manufacturing partnerships (e.g., with Emergent BioSolutions) support US government supply following regulatory approvals.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels3 records
Substipharm product offering
Product offeringCore offering
Substipharm develops and supplies high-quality affordable medicines and vaccines through two divisions: Pharmaceuticals (Branded Specialties & Generics) and Biologics/Vaccines. The company specializes in developing pharmaceutical dossiers and commercializing a portfolio of more than 90 molecules, with a focus on niche and well-differentiated established products. Its biologics division focuses on Japanese Encephalitis (IMOJEV) and Enterovirus A71 (ENVACGEN) vaccines, commercialized across Europe and Asia-Pacific.
Product overview
Substipharm is a private French healthcare group operating as a fast-growing pharmaceutical company with two main divisions: Pharmaceuticals/Branded Specialties & Generics (the historical core business with over 90 molecules, including brands like Vygoris and Substipharm SrL, and acquired brands Aspégic and Kardégic/Cardirene) and Biologics/Vaccines (focused on Japanese Encephalitis through the IMOJEV vaccine acquired in 2022, with manufacturing facility in Bangkok). The company commercializes its own product portfolio directly or through partnerships, operates in over 100 countries with direct presence in Europe and Southeast Asia, and has over 150 employees. Recent strategic moves include the ENVACGEN Enterovirus A71 vaccine distribution partnership and the IMOJEV U.S. manufacturing partnership with Emergent BioSolutions.
Differentiator
Problem solved
Functional benefit
Brands
- Substipharm Biologics: Vaccine division focusing on JE (Japanese Encephalitis) vaccines, including IMOJEV and ENVACGEN products.
- Substipharm SrL
- Vygoris
Products and services
- IMOJEV A live attenuated Japanese Encephalitis (JE) vaccine providing protection against JE, a severe mosquito-borne viral infection and leading cause of viral encephalitis in Asia. Administered as a single-dose primary immunization, providing long-term protection with over 99% of adults protected one month after immunization and 84% protection maintained at 5 years.
- ENVACGEN Enterovirus A71 (EV-A71) vaccine developed by Medigen Vaccine Biologics Corp. with Substipharm Biologics as distribution partner for Southeast Asia markets. Granted the first marketing authorization for an EV-A71 vaccine in Vietnam, used to prevent hand, foot and mouth disease caused by Enterovirus A71.
- Aspégic Iconic pharmaceutical brand acquired by Substipharm from Opella in October 2025. Part of Substipharm's portfolio of branded specialty pharmaceuticals serving patients globally.
- Kardégic / Cardirene Iconic pharmaceutical brands acquired by Substipharm from Sanofi in October 2025. Part of Substipharm's branded specialty pharmaceutical portfolio.
- Vectans Pharma Lauriad Products Pharmaceutical products based on Vectans Pharma's proprietary Lauriad muco-adhesive drug delivery technology. Vectans Pharma became a majority-owned subsidiary of Substipharm in February 2025.
Quantifiable outcome
- IMOJEV provides single-dose primary immunization protection against Japanese Encephalitis with over 99% of adults protected one month after vaccination and 84% protection maintained at 5 years.
- +2 more outcomes
Companies that use Substipharm
Customer profileSegments1 record
Ideal customer profiles2 records
Substipharm technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Substipharm partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered minor and core.
- SAB BiotherapeuticsminorEmergent BioSolutions announced strategic manufacturing partnerships with SAB Biotherapeutics and Substipharm Biologics as new strategic initiatives, supporting medical countermeasures manufacturing.
- Emergent BioSolutionscoreEmergent BioSolutions entered into a $34.5 million strategic manufacturing partnership with Substipharm Biologics to manufacture drug substance for IMOJEV, a Japanese Encephalitis vaccine, at Emergent's Canton, Massachusetts facility. Emergent will also serve as the exclusive distributor of the vaccine to the US government following potential FDA regulatory approval. The FDA issued a 'No Action Indicated' status classification for the Canton facility after an inspection in February 2026. Emergent has begun scale-up efforts with plans to hire additional employees later in 2026.
- OpellaminorSubstipharm acquired iconic brand Aspégic from Opella, strengthening its pharmaceutical branded specialties portfolio.
- SanofiminorSubstipharm acquired iconic brands Kardégic and Cardirene from Sanofi, strengthening its pharmaceutical branded specialties portfolio.
- Medigen Vaccine Biologics Corp (MVC)coreSubstipharm Biologics entered a distribution agreement with Medigen Vaccine Biologics Corp (MVC) regarding ENVACGEN Enterovirus A71 (EV-A71) vaccine covering Vietnam, Thailand, Philippines, Indonesia, Malaysia, and Singapore. MVC was also joined with Substipharm Biologics for the expansion of ENVACGEN market in Southeast Asia. ENVACGEN received the first Enterovirus A71 vaccine marketing authorization in Vietnam.
- Vectans PharmaminorSubstipharm and athena announced the acquisition of a majority stake in Vectans Pharma, a pharmaceutical company recognized for its proprietary Lauriad muco-adhesive drug delivery technology.
- Eli Lilly and CompanyminorSubstipharm completed a new acquisition from Eli Lilly and Company in Japan, Mexico, USA, Australia, and Brazil. This marked a significant milestone in the company's internationalization journey.
Scale indicators5 records
Recent moves6 records
Expansion highlights6 records
Substipharm competitors and assessment
Company assessmentDirect peers
- Valneva SE: Valneva markets IXIARO, the most established competitor vaccine to Substipharm's IMOJEV for Japanese Encephalitis, and is a focused specialty vaccine company targeting travel and endemic infectious diseases — making it the closest direct comparable for Substipharm Biologics.
- Bavarian Nordic: Bavarian Nordic is a specialty vaccine company with a portfolio targeting infectious diseases and travel-related pathogens, overlapping with Substipharm's tropical disease and infectious disease vaccine focus.
- STADA Arzneimittel AG: STADA is a European specialty generics and branded pharma company with a similar playbook of acquiring and commercializing established niche molecules, mirroring Substipharm's pharmaceuticals division strategy and geographic reach.
- Hikma Pharmaceuticals: Hikma is a specialty/generics pharma company with branded and off-patent product portfolios across Europe, MENA, and the US, comparable in business model and product breadth to Substipharm's pharmaceuticals division.
- Viatris Inc. Viatris is a global specialty and generics pharma operator with an established brand portfolio and broad geographic reach, comparable to Substipharm's pharmaceutical dossier development and commercialization model across 100+ countries.
- Medigen Vaccine Biologics Corp: Medigen is Substipharm's development and SEA distribution partner for ENVACGEN, but it is also an emerging vaccine player with overlapping infectious disease vaccine capabilities (EV-A71 developer) in the Asia-Pacific region.
Broad incumbents
- Emergent BioSolutions: Emergent is a biodefense and specialty vaccine manufacturer that is both Substipharm's IMOJEV US manufacturing/distribution partner and a broader vaccines/biologics incumbent with overlapping capabilities in vaccine production for government and travel markets.
- Sanofi: Sanofi is a global vaccines and specialty pharma incumbent; it divested Kardégic/Cardirene to Substipharm and operates its own travel vaccine portfolio (including JE competitor products historically), making it a structurally comparable incumbent.
- Takeda Pharmaceutical: Takeda operates a significant vaccines business (including dengue) and a global specialty pharma portfolio, comparable in breadth to Substipharm's combined pharmaceuticals plus biologics footprint across multiple geographies.
Regional players
- Aspen Pharmacare Holdings: Aspen is a specialty pharma company with strong emerging-markets presence, particularly in Africa and Asia, and pursues an acquisition-led growth strategy analogous to Substipharm's expansion playbook, though focused on different geographies.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Substipharm social profiles
Digital presenceSubstipharm financial estimates
Financial estimateRevenue estimate
Valuation estimate
Substipharm leadership team
Management profileNumber of profiles
Profiles1 record
Substipharm subsidiaries and ownership
Company hierarchySubsidiaries4 records
Substipharm funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Substipharm M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Substipharm
What does Substipharm do?
Substipharm develops and supplies high-quality affordable medicines and vaccines through two divisions: Pharmaceuticals (Branded Specialties & Generics) and Biologics/Vaccines. The company specializes in developing pharmaceutical dossiers and commercializing a portfolio of more than 90 molecules, with a focus on niche and well-differentiated established products. Its biologics division focuses on Japanese Encephalitis (IMOJEV) and Enterovirus A71 (ENVACGEN) vaccines, commercialized across Europe and Asia-Pacific.
Is Substipharm a public or private company?
Substipharm is a private company. It is classified as family owned and is currently operating.
When was Substipharm founded?
Substipharm was founded in 1995. It employs 101 to 250 people.
Where is Substipharm based?
Substipharm is headquartered in Paris, France, in the Europe region.
How does Substipharm make money?
Two revenue lines are on record. Pharmaceuticals (Branded Specialties & Generics) is the primary driver. The others are biologics / Vaccines.
Who are Substipharm's main competitors?
Direct peers on record are Valneva SE, Bavarian Nordic, STADA Arzneimittel AG, Hikma Pharmaceuticals, Viatris Inc. and Medigen Vaccine Biologics Corp. Broad incumbents are Emergent BioSolutions, Sanofi and Takeda Pharmaceutical. Aspen Pharmacare Holdings is listed as a regional player.
Does Substipharm have an API?
No public API is recorded for Substipharm.
What industry is Substipharm in?
Substipharm's product category is Specialty Pharmaceuticals. Its primary akta.pro industry code is HLAAAEAC, Infectious Disease & Pandemic Preparedness Vaccines (emerging pathogens), with a secondary code of HLAIAEAK, Vaccine Cold Chain, Storage & Distribution. Its NAICS code is 325414 and its SIC code is 2836.