Haffkine Bio-Pharmaceutical

What Haffkine Bio-Pharmaceutical does

Haffkine Bio-Pharmaceutical Corporation Limited (HBPCL) is a wholly-owned Government of Maharashtra undertaking and one of India's oldest public sector pharmaceutical manufacturers, with origins dating to 1899 when Dr. Waldemar Haffkine established the Plague Research Laboratory in Mumbai. The company was formally constituted in 1975 through bifurcation of Haffkine Institute's production activities, with the present legal entity registered under the Companies Act, 1956. It operates three manufacturing facilities: the Parel headquarters in Mumbai (pharmaceutical production and oral liquids), the Pimpri unit near Pune (antitoxins and sera products with WHO cGMP certification), and the Jalgaon facility operated through wholly-owned subsidiary Haffkine Ajintha Pharmaceuticals Ltd. (HAPL) for antibiotics and related formulations. Headcount is reported in the 501-1000 range.

The company's core product portfolio is organized across four categories: (1) Antitoxins and Sera, including Polyvalent Snake Antivenin, Antiscorpion Venom Serum, Anti-Rabies Serum, Diphtheria Antitoxin, and Tetanus Antitoxin, all derived from enzyme-refined equine immunoglobulins and lyophilised for shelf stability; (2) Oral Polio Vaccines, specifically monovalent Type 1 (mOPV1) and Bivalent Type 1 & 3 (bOPV1&3) using Sabin strains propagated in primary monkey kidney cell cultures, with UN pre-qualification; (3) Oral Liquids including cough syrups, paracetamol suspension, and anthelmintic suspensions; and (4) Capsules, Ointments, and Tablets covering generic antibiotics (Ciprofloxacin, Amoxycillin, Ampicillin, Tetracycline, Ofloxacin, Azithromycin), anti-diabetic (Metformin), and combination antibiotics. Core technical capabilities include lyophilisation infrastructure, enzyme refinement processes, and WHO cGMP compliant production lines.

HBPCL generates revenue through tender-based government pharmaceutical supply to 11 Indian state Medical Service Corporations and through UNICEF contracts for international oral polio vaccine supply. Revenue for FY 2022-23 was Rs. 190.53 crore (approximately $22.9M USD) with Rs. 195 Lacs in net profit, down from a peak of Rs. 315 crore in FY 2013-14 when OPV vaccine sales contributed Rs. 297 crore. The company has no private-sector customers, no publicly disclosed pricing, and no private funding; ownership remains 100% state government. Marketing is conducted through a dedicated sales team (Sales Officer and Assistant Sales Officer positions) and tender-based procurement channels.

Name

Haffkine Bio-Pharmaceutical

Legal name

Haffkine Bio-Pharmaceutical Corporation Ltd.

Website

https://vaccinehaffkine.com

Company type

Private

Founded year

1975

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Haffkine Bio-Pharmaceutical Corporation Limited is a Government of Maharashtra-owned public sector pharmaceutical manufacturer producing vaccines, antivenoms, antitoxins, and generic drugs for supply to Indian state Medical Service Corporations and UNICEF through government tenders.

Ownership category

akta.pro rank

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Government Pharmaceutical Supply: HBPCL operates as a public sector undertaking supplying essential medicines, vaccines, and antivenoms to government healthcare systems across Indian states through tender-based procurement. Revenue is generated through sales to Medical Service Corporations and direct government contracts. The company has achieved significant sales volumes including Rs. 315 crore group turnover in FY 2013-14, with sales ranging from Rs. 2,609L to Rs. 31,571L across different fiscal years.
2. UNICEF and International Agency Supply: HBPCL supplies oral polio vaccines (mOPV1, bOPV1&3) to UNICEF for international immunisation programmes. The company achieved UN accreditation for mOPV1 in 2008 and received significant UNICEF orders for tOPV and mOPV1 in 2009-2010.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Haffkine Bio-Pharmaceutical Corporation Limited is a state-owned pharmaceutical manufacturer that produces vaccines (including oral polio vaccine), antitoxins and antisera (anti-snake venom, anti-scorpion venom, tetanus and diphtheria antitoxins, anti-rabies serum, tetanus toxoid), and generic finished dosage forms (tablets, capsules, and oral liquids). Its products are supplied primarily to government Medical Service Corporations and institutional buyers such as UNICEF, with manufacturing carried out at WHO cGMP-certified facilities in Mumbai, Pimpri, and Jalgaon.

Product overview

Haffkine Bio-Pharmaceutical Corporation Ltd (HBPCL) is a Government of Maharashtra undertaking and one of India's oldest public sector pharmaceutical manufacturers, established in 1899. The company operates as a diversified manufacturer producing life-saving biological products and pharmaceuticals. Its core product portfolio consists of four main categories: (1) Antitoxins & Sera - including Snake Antivenin, Antiscorpion Venom Serum, Anti Rabies Serum, Diphtheria Antitoxin, and Tetanus Antitoxin, all derived from equine immunoglobulins; (2) Oral Polio Vaccines - both Monovalent Type I (mOPV1) and Bivalent Type 1 & 3 (bOPV1&3) oral poliomyelitis vaccines; (3) Oral Liquids - including Parakine Syrup (paracetamol), Cophekine Syrup (cough syrup), Albekin Suspension (albendazole), and Trimekine Suspension (antibiotic); and (4) Capsules/Ointments/Tablets - antibiotics (Ciprofloxacin, Amoxycillin, Ampicillin, Tetracycline, Ofloxacin, Azithromycin), anti-diabetic (Metformin), and combined antibiotics (Trimethoprim & Sulphamethoxazole). HBPCL supplies products to government medical stores, UNICEF, and international agencies, with facilities in Parel (Mumbai), Pimpri, and Jalgaon certified to WHO cGMP standards.

Differentiator

Problem solved

Functional benefit

Products and services

• Oral Polio Vaccine (OPV) — Sabin strain Live-attenuated Sabin-strain oral polio vaccine supplied to national immunization programmes and international agencies such as UNICEF.
• Anti-Snake Venom Serum (ASVS) / Snake Antivenin Polyvalent equine antiserum used for treatment of venomous snake bites; supplied to government hospitals and Medical Service Corporations.
• Anti-Scorpion Venom Antiserum Hyperimmune equine serum indicated for scorpion-sting envenomation cases; supplied to public-sector health facilities.
• Tetanus Antitoxin Passive-immunizing antitoxin against tetanus toxin, supplied to government health institutions.
• Diphtheria Antitoxin Antitoxin used in the treatment of diphtheria; supplied to public-sector hospitals and Medical Service Corporations.
• Anti-Rabies Serum (ARS) Hyperimmune equine serum used for passive immunization in rabies post-exposure prophylaxis; supplied to government health facilities.
• Tetanus Toxoid Vaccine Active-immunizing vaccine against tetanus supplied to government immunization programmes.
• Generic Pharmaceutical Formulations (Tablets, Capsules, Oral Liquids) Generic finished dosage forms — tablets, capsules, and oral liquids — across therapeutic categories such as antibiotics, antidiabetics, and cough preparations; sold primarily through government health tenders.

Quantifiable outcome

• India declared POLIO FREE on 11th February 2014 with HBPCL as contributor to national immunisation programme
• +1 more outcomes

Named customers12 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• Government of IndiacoreStrategic or Co-development Partner · 1 January 2014HBPCL received prestigious invitation from Government of India to participate in the polio-free declaration event at Delhi on 11th February 2014 when India was officially declared polio-free by WHO. Contributed to national immunisation programmes.
• World Health Organisation (WHO)coreStrategic or Co-development Partner · 1 January 2010WHO cGMP certification obtained for Pimpri manufacturing facility in 2010 for production of antitoxins and sera products. WHO pre-qualification requirements met for oral polio vaccine facilities with implementation of WHO-GMP guidelines from 1999.
• United Nations (UNICEF)coreStrategic or Co-development Partner · 1 January 2008HBPCL achieved UN pre-qualification for monovalent Type 1 Oral Poliomyelitis Vaccine (mOPV1) in 2008, enabling supply to UNICEF and international immunisation programmes. Received significant UNICEF orders for tOPV and mOPV1 in 2009-2010 amounting to approximately Rs. 183 crore, the highest ever group turnover at that time.

Scale indicators6 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• Biological E: Indian vaccine and biological products manufacturer producing WHO-prequalified vaccines, antitoxins/antisera and generic injectables. Direct competitor for UN agency tenders and Indian state essential-medicines procurement.
• Bharat Biotech: Indian vaccine and biotherapeutics manufacturer producing polio vaccines (including IPV), rotavirus, and a range of public-sector immunisation products. Highly comparable given shared Indian public-health, OPV/IPV, and WHO pre-qualification footprint.
• Serum Institute of India: The world's largest vaccine manufacturer by doses, producing OPV (including UN-supplied), DPT, measles, and other immunisation products. Directly comparable to HBPCL as an Indian manufacturer of UN-prequalified OPV and other public-sector biologicals.
• Indian Immunologicals: Subsidiary of the National Dairy Development Board producing veterinary and human vaccines including anti-rabies serum and snake antivenin. Closely comparable in antisera/biologicals portfolio and public-sector supply orientation.
• Panacea Biotec: Indian vaccine and pharmaceutical manufacturer with a strong public-sector tender portfolio including polio vaccines and essential medicines; competes for similar state Medical Service Corporation and international agency contracts as HBPCL.
• Vins Bioproducts: Indian manufacturer specializing in antisera and antivenoms including snake antivenin and anti-rabies serum. Direct overlap with HBPCL's equine-derived biologicals portfolio for the Indian government hospital segment.

Regional players

• Haffkine Institute (Research): The original Haffkine Institute from which HBPCL was bifurcated in 1975; remains a Maharashtra state biomedical research organisation under the same parent government, with overlapping biologicals R&D heritage.

Broad incumbents

• Bharat Serums and Vaccines: Large Indian biopharmaceutical company producing antisera, plasma-derived products, and specialty injectables. Overlaps with HBPCL in equine-derived antisera, anti-rabies, and antivenin categories.
• Shantha Biotechnics (Sanofi Pasteur): Indian vaccine manufacturer (now part of Sanofi Pasteur) producing WHO-prequalified vaccines for global immunisation programmes. Comparable as a private-sector Indian vaccine producer competing for the same UN/state tenders.
• GSK Vaccines: Global vaccine major with a large OPV franchise historically and WHO pre-qualified polio vaccines. Relevant broad incumbent comparable to HBPCL on the UN-prequalified OPV side of the portfolio.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/haffkine-bio-pharmaceutical-corporation-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Haffkine Bio-Pharmaceutical