Is Mankind Indian pharma’s next big star?

From making condoms to steering clear of costly formulations, the drugmaker’s strategy of taking the road less travelled could now give it a seat at the high table.

A fortnight ago, when Delhi-based Mankind Pharma published its first ever annual report after its public listing in May, it said it sold a whopping 52 crore Manforce condoms in 2022-23. That’s 16 a second. That business alone brought in a revenue of Rs 427 crore during the fiscal. Add sales of pregnancy testing kits and oral contraceptives and it was a further Rs 540 crore. The two together accounted for 11.5% of the company’s Rs 8,127 crore revenue.

Clearly, Mankind’s consumer business is a winner. One that is helping the company prove its critics wrong. Because, when it started …


T Surendar

Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.

Executive Editor