Gujarat Themis Biosyn

What Gujarat Themis Biosyn does

Gujarat Themis Biosyn Limited (GTBL) is a Vapi, Gujarat-based pharmaceutical manufacturer founded in 1981, originally focused on fermentation-based production of erythromycin and other anti-infective active pharmaceutical ingredients (APIs). The company historically operated as a B2B ingredients supplier serving global pharmaceutical manufacturers, leveraging fermentation-led manufacturing to achieve industry-leading margins and peak return on equity above 50% on a modest revenue base with 101-250 employees. Its core technology stack centers on fermentation-based pharmaceutical R&D and manufacturing, with reported capabilities spanning oncology APIs, plasmid DNA manufacturing, antibody-drug conjugate (ADC) conjugation, and biologics — primarily inherited or assembled through acquisitions rather than built organically.

In 2026, GTBL announced a transformational pivot, deploying approximately Rs 3,000 crore (nearly 85% of its Rs 3,520 crore market capitalization at announcement) on two acquisitions within five weeks. The April 2026 Asset Purchase Agreement with Sanofi acquires a portfolio of 13 established branded generic anti-tuberculosis and anti-infective products for €158 million (approximately Rs 1,740 crore), with presence across 55+ countries in Europe, the Middle East, and Africa and €62 million in FY2025 net sales. The May 2026 acquisition of Japan-based MicroBiopharm Japan Co. (MBJ) for JPY 21.5 billion (approximately Rs 1,300 crore) brings fermentation-based CDMO capabilities, two US FDA and Japan PMDA-audited facilities, and an estimated JPY 9.5 billion in FY26 revenue. The combined effect transitions GTBL from a single-product fermentation intermediates business into a technology-driven CDMO and branded specialty platform.

The company's revenue model blends B2B API manufacturing (one-time/contract sales), CDMO professional services across fermentation, oncology, plasmid DNA, ADC conjugation, and biologics, and a newly acquired branded generics portfolio generating licensing-style royalty and product revenue across regulated and semi-regulated markets. Customers are primarily enterprise pharmaceutical companies and global distributors, reached through direct sales. Note: the headline financials table in the source data reports anomalous figures (e.g., revenue in trillions of dollars) inconsistent with a company of GTBL's market cap and headcount; these appear to be data artifacts and have been disregarded in favor of the explicit revenue signals (€62M Sanofi portfolio, JPY 9.5B MicroBiopharm FY26 estimate) disclosed in narrative sources.

Name

Gujarat Themis Biosyn

Legal name

Gujarat Themis Biosyn Limited

Website

https://gtbl.in

Company type

Public

Founded year

1981

Operating status

Operating

Headcount range

101–250 employees

Short description

Gujarat Themis Biosyn is a Vapi-based fermentation pharmaceutical manufacturer founded in 1981, transitioning via 2026 acquisitions of Sanofi's anti-infective branded generics portfolio and Japan's MicroBiopharm into a global CDMO and specialty pharma platform serving enterprise pharma customers across 55+ countries.

Ownership category

akta.pro rank

Product category

Pharmaceutical API Manufacturing

NAICS

Pharmaceutical and Medicine Manufacturing (3254), Biological Product (except Diagnostic) Manufacturing (325414), Research and Development in Biotechnology (except Nanobiotechnology) (541714)

SIC

Medicinal Chemicals & Botanical Products (2833), Biological Products, (No Disgnostic Substances) (2836), Services-Commercial Physical & Biological Research (8731)

akta.pro primary industry

Drug Substance–Drug Product Integrated CDMO (HLAGABAG)

akta.pro secondary industries

Small-Molecule API & Intermediates CDMO (HLAGABAA), Biologic API/Drug Substance Manufacturing Services (HLAAAKAA), Gene Therapy Vector Manufacturing & CDMO Services (HLAAACAJ)

Keywords

• Pharmaceutical API manufacturing
• Fermentation-based CDMO
• Anti-infective ingredients
• Biologics contract manufacturing
• Branded generic pharmaceuticals

Headquarters

HQ city

Valsad

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Pharmaceutical API Manufacturing: Manufacturing and sale of anti-infective pharmaceutical active pharmaceutical ingredients (APIs) to pharmaceutical companies globally
2. CDMO Services: Contract development and manufacturing organization (CDMO) services including fermentation-based R&D, oncology APIs, plasmid DNA, ADC conjugation, and biologics manufacturing
3. Branded Generic Products Portfolio: Revenue from acquired Sanofi portfolio of 13 branded generic anti-tuberculosis and anti-infective products across 55+ countries in Europe, Middle East, and Africa, generating approximately €62 million in net sales (FY2025)

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Gujarat Themis Biosyn is a pharmaceutical manufacturer that produces anti-infective active pharmaceutical ingredients using fermentation-based processes and sells these APIs to pharmaceutical companies globally. Following its 2026 acquisitions, the company is also expanding into contract development and manufacturing (CDMO) services covering oncology APIs, plasmid DNA, antibody-drug conjugate conjugation, and biologics, while marketing a portfolio of branded generic anti-tuberculosis and anti-infective products across more than 55 countries.

Product overview

Gujarat Themis Biosyn (GTBL) is a Vapi-based manufacturer of anti-infective pharmaceutical ingredients founded in 1981. The company has historically operated as a fermentation-led intermediates manufacturer with industry-leading margins. Following two major acquisitions in 2026 — Sanofi's portfolio of 13 branded generic anti-TB and anti-infective products (April 2026) and Japan's MicroBiopharm Japan Co. (May 2026) — the company is transitioning from a fermentation-led intermediates business to a technology-driven CDMO platform. The acquired MicroBiopharm provides oncology APIs, plasmid DNA manufacturing, ADC conjugation, and biologics capabilities, while the Sanofi portfolio grants access to regulated and semi-regulated markets across 55 countries.

Differentiator

Problem solved

Functional benefit

Products and services

• Anti-Infective Pharmaceutical Ingredients (APIs)

Quantifiable outcome

• Peak return on equity above 50%
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Three partnerships are on record, tiered minor and core.

• Optimus Drugs Private LimitedminorOthers · 26 June 2026GTBL initiated arbitration proceedings against Optimus Drugs Private Limited over a terminated supply agreement, claiming Rs 90.38 crore for breach of contract (Rs 75 crore break fees, Rs 23.8 lakh interest, Rs 15 crore damages). Company does not expect any financial impact from penalties as it pursues recovery through arbitration.
• MicroBiopharm Japan Co. (MBJ)coreStrategic or Co-development Partner · 25 May 2026GTBL announced acquisition of 100% stake in MicroBiopharm Japan Co., Ltd. for JPY 21.5 billion (approximately Rs 1,300 crore). MBJ operates fermentation-based pharmaceutical R&D and CDMO services with capabilities in oncology APIs, plasmid DNA manufacturing, ADC conjugation, and biologics. Two of its three Japanese facilities are US FDA and PMDA audited. Estimated revenue of JPY 9.5 billion for FY26. Closing expected Q2 FY27.
• SanoficoreStrategic or Co-development Partner · 24 April 2026GTBL signed an Asset Purchase Agreement with Sanofi to acquire 13 established branded generic anti-tuberculosis and anti-infective products for €158 million (approximately Rs 1,740 crore). The portfolio has presence across more than 55 countries in Europe, Middle East, and Africa, with net sales of approximately €62 million for FY2025. Deal expected to close by December 2026 pending regulatory approvals.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Biocon: India-based biopharmaceutical company with biologics, biosimilars and CDMO services. Comparable to GTBL/MBJ on biologics manufacturing and the move up the value chain from APIs to higher-value biologics.
• Piramal Pharma Solutions: Global CDMO offering API manufacturing, drug product and biologics services across India, North America and Europe. Comparable to GTBL/MBJ on multi-modality CDMO (fermentation, biologics, ADC) for pharma customers.
• Jubilant Pharmova: India-listed integrated pharma company with APIs, generics and a CDMO segment (Jubilant Biosys, HollisterStier). Comparable to GTBL on fermentation APIs, CDMO services and the strategy of scaling through acquisitions.
• Divi's Laboratories: India-based fermentation-led API and CDMO manufacturer with strong capabilities in custom synthesis and nutraceutical APIs. Closely comparable to GTBL's legacy fermentation API business and the broader transition toward complex CDMO services.
• Syngene International: Listed Indian contract research and manufacturing services organization offering discovery, development and biologics manufacturing for global pharma. Comparable as an India-headquartered publicly listed CDMO platform expanding into biologics.

Broad incumbents

• Samsung Biologics: Large-scale biologics CDMO with regulatory-inspected facilities serving global pharma. Comparable on the FDA/PMDA-grade regulatory moat and large-molecule CDMO model that GTBL is targeting through MBJ.
• Recipharm: European-headquartered CDMO offering development and manufacturing services across dosage forms. Comparable as a consolidator of legacy pharmaceutical manufacturing assets and a benchmark for the Sanofi-style branded-generics carve-out model.
• Lonza Group: Global leader in microbial and mammalian biologics CDMO with large-scale fermentation capacity. Comparable as a global benchmark for the kind of multi-modality fermentation, biologics and ADC platform that GTBL/MBJ is aspiring to build.
• Aurobindo Pharma: Large Indian generic and API manufacturer with a strong anti-infective portfolio and global commercial reach. Comparable to GTBL on fermentation-based anti-infective APIs and to the Sanofi-acquired branded generics franchise.

Emerging players

• Eurofins CDMO: Contract development and manufacturing services business within Eurofins Scientific, active in biologics and small-molecule CDMO. Comparable as a peer for the type of mid-sized, multi-modality CDMO platform GTBL is targeting.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/gujarat-themis

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries4 records

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 Gujarat Themis Biosyn