Unimark Remedies

In 1982, Unimark Remedies was founded, starting its journey as a marketing company. The playbook shifted in 1995 when the company integrated backwards into manufacturing Active Pharmaceutical Ingredients (APIs), the core components of medicines. This move set the stage for growth, and by 1997, Unimark acquired an antibiotic facility in Bavla, India. The company focused on developing and manufacturing generic drugs across therapeutic areas like respiratory and cardiovascular, aiming to be a global, integrated life sciences player. The mid-2000s marked a period of significant milestones, with its manufacturing plants in Vapi and Bavla receiving US FDA approval in 2006 and 2007, respectively. This opened the door for international expansion. In 2007, Citi Venture Capital invested Rs 113 crore for a 27% stake, valuing the company at Rs 380 crore. Another strategic investment came in 2011 from Hikma Pharmaceuticals, which acquired a minority stake for $33.3 million to gain access to Unimark's API manufacturing capabilities. However, the company's trajectory shifted. In 2018, after defaulting on a major loan, Unimark Remedies was admitted for corporate insolvency. The story took its final turn in April 2023, when a bankruptcy court approved an acquisition plan from a consortium including Intas Pharmaceuticals and Shamrock Pharmachemi for about Rs 250 crore. Today, Unimark Remedies is 100% owned and managed by the Shamrock Pharmagroup, closing one chapter and beginning another under new ownership.