Rubicon Research Ltd. IPO

We are a pharmaceutical formulations company, driven by innovation through focused research and development, with an increasing portfolio of specialty products and drug-device combination products targeting regulated markets, particularly, the United States. Based on the peer set (of seven listed ... Indian companies assessed by F&S, and our Company), we are the only Indian pharmaceutical player with a complete focus on regulated markets*. (Source: F&S Report) As on June 30, 2025, we – directly or through our Subsidiaries - have a portfolio of 72 active ANDA and nine NDA products approved by, and one overthe-counter monograph listed with, the USFDA. As on June 30, 2025, we have 17 new products awaiting USFDA ANDA approval and 63 product candidates in development. Our Company sells branded and non-branded pharmaceutical products, and for the three months ended June 30, 2025, derived 95.05% and 4.95% of our revenue from sale of goods from the sale of non-branded and branded products, respectively. Read more

In 2024, the US dominated the global prescription pharmaceutical market with a commanding 46.9% share. (Source: F&S Report) This dominance is attributed to several factors, including a robust healthcare infrastructure, a favorable regulatory environment, an innovative reimbursement mechanism, ... significant investments in R&D, and a large population with high healthcare expenditure and affordability. (Source: F&S Report) Additionally, according to F&S, the US leads in the share of first launches globally, with 65% of new medicines launched in 2021 being first launched in the US. Read more